Merck's Vioxx Payouts To Begin In August

Law360, New York (July 18, 2008, 12:00 AM EDT) -- Merck & Co. has announced that it will issue the first installment of its $4.85 billion Vioxx settlement of 50,000 lawsuits on Aug. 6.

Merck's interim payments — including the first $500 million installment — will benefit claimants alleging cardiac injuries and death, the company announced Thursday. Claimants alleging stroke will begin getting paid Feb. 9.

Interim payments will be about 40% of the estimated final payment, Merck said.

Under the agreement, Merck had the right to walk away from the settlement if 85% of the...
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