Merck Reveals $670M Payment To Settle Probes

Law360, New York (December 4, 2007, 12:00 AM EST) -- Pharmaceutical company Merck & Co. Inc. revealed Tuesday that it will take $670 million out of its 2007 earnings in anticipation of settling civil claims from federal and state authorities over the company’s past marketing and selling practices.

In a press release on the company’s financial guidance for 2007 and 2008, Merck said the pretax charge will be used to resolve investigations into the company’s marketing practices which have been pending since 2002. The activities under investigation involve Merck’s nominal pricing programs and samples, the company...
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