MSD to resolve US Vioxx lawsuits

Merck, Sharp and Dohme (MSD) has announced that it is to resolve the product liability lawsuits for Vioxx in the US, with the firm signing an agreement with the law firms that make up the executive committee of the relevant Plaintiffs’ Steering Committee and representatives of plaintiffs’ counsel.

The agreement has been signed by the parties following a meeting with three of the four judges charged with overseeing the coordination of the bulk of the existing Vioxx litigation claims.

If specific conditions are met, MSD will pay a total of $4.85 billion (2.3 billion pounds) into a settlement fund for claims in the resolution process that qualify, while claims will be evaluation on an individual basis.

Richard T Clark, chairman, president and chief executive officer of the company, said: “The agreement is structured to provide a significant degree of certainty toward resolving the majority of the outstanding Vioxx product liability claims in the United States for a fixed amount.”

He added that this agreement will enable the firm to better concentrate on its task of discovering, developing and delivering innovative compounds and vaccines to treat patients.

Last month, MSD won a product liability trial related to Vioxx in a Florida circuit court, with the company found not liable for the heart attack of Refik Kozic in April 2001.