Mon, May 28, 2012, 7:14 PM EDT - U.S. Markets closed for Memorial Day

Summary Box: Merck settling Canadian Vioxx cases

Summary Box: Merck to end hundreds of Canadian Vioxx patient injury lawsuits for up to C$37M

VIOXX DEAL: Merck and lawyers for Canadian Vioxx users have struck a deal, awaiting approval by courts in provinces there, to end lawsuits filed by hundreds of people claiming harm from the drugmaker's recalled painkiller Vioxx.

SETTLEMENT TERMS: Merck will pay between $21.6 million and $36.5 million, depending on how many claimants are ruled eligible by an independent settlement administrator. Merck admits no wrongdoing.

COVERED CLAIMANTS: The settlement includes Vioxx users who suffered a heart attack or stroke, and survivors of those patients who died.

 

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