Merck To Pay $23M To Settle Vioxx Economic-Loss Claims

By Ciaran McEvoy (July 18, 2013, 2:41 PM EDT) -- Merck & Co. Inc. has agreed to pay up to $23 million to settle putative class claims of consumers who allege they suffered economic loss due to the drugmaker's purported misrepresentations regarding the recalled drug Vioxx, according to court papers filed Wednesday in Louisiana federal court.

The parties have asked U.S. District Judge Eldon E. Fallon to grant preliminary approval of the settlement agreement that would encompass claims by class members nationwide, except for those consumers who purchased the prescription painkiller for personal or family use before Oct. 1, 2004, while living in Missouri, according to the motion for preliminary approval...

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