Merck Settles
Posted By: Dr. Frugal in Economics on 11/11/2007 at 08:01:53
Merck agreed to pay $4,850,000,000 in damages as part of a settlement over Vioxx. I am terrified to even write Vioxx in a blog since I get so many spammy emails asking about it. On other sites I've blogged on, I know there are tons of spam comments about various medicines and I really don't want that to happen here.
Anyway, it is, as far as I know, the largest single-product settlement in US history. There were about 50,000 outstanding personal injury lawsuits against Merck and this will supposedly clear them up. Even though they had to pay out nearly $5b, they still took in almost $3b on the Vioxx sales so they're probably not going to be going out of business any time soon.
Comments
No comments yet. Go ahead, be the first.
Leave A Comment:
Sections
Frugality (48)Budget (15)
Credit (17)
Currency (22)
Economics (84)
Loans (39)
Politics (17)
Saving (20)
Taxes (39)
Related:
Cost of InsurancePregnancy Outsourcing
Record Exports
Radiohead Experiment Blows Up
GM Posts $39b Loss for 3Q
Most Popular
Debix vs. LifelockIs Lifelock a scam?
Review: TurboTax
Most Recent
Condoleezza for VP?Great Depression 2
City Budget Cuts
Google's Free-Fall
CA House Prices down 26%
Homes Down Again
Gore-Led Ticket?