Merck agrees to pay $830 million to settle Vioxx investor claims

Merck (NYSE: MRK), which operates a facility in north Durham, disclosed Friday it would pay $830 million plus attorneys’ fees to settle investor claims relating to how the company characterized Vioxx. The settlement applies to investors who bought shares between May 21, 1999, and Oct. 29, 2004. Merck had withdrawn Vioxx after studies showed an increased risk of heart attacks, but investors claimed the company did not adequately warn them of the risks associated with the drug. As part of the…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news