Vioxx Settlement Reached for $4.85 Billion

According to the Philadelphia Daily News, drug giant Merck has agreed to a $4.85 billion settlement to be paid out to former users of Vioxx, a painkiller found to have serious cardiovascular side effects. Almost 50,000 claimants are expected to receive payouts ranging from $5,000 to several million dollars. The former blockbuster drug brought in a total of $11 billion before reports of heart problems culminated in its withdrawal from the market in 2004. The Philadelphia Daily News reports that Merck has spent $6.8 billion on Vioxx-related lawsuits.

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