Merck Sets Aside $950M For Federal Vioxx Settlement

Law360, New York (October 29, 2010, 11:21 AM EDT) -- Drug giant Merck & Co. Inc. on Friday said it had set aside a $950 million legal reserve to cover a potential settlement of a federal inquiry into sales and marketing of the withdrawn painkiller Vioxx.

Merck said the settlement reserve was established in connection with “an anticipated resolution” of a previously disclosed investigation by the U.S. Attorney's Office for the District of Massachusetts, according to its third-quarter earnings statement. The office's health fraud task force is leading the investigation.

Whitehouse Station, N.J.-based Merck disclosed in...
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