"This agreement is in the best interest of the company and its shareholders. It reduces the uncertainty of litigation and ongoing defense costs, and helps us to remain focused on bringing forward innovative products and services for our customers,"
WHITEHOUSE STATION, N.J.--(BUSINESS WIRE)--Merck, known as MSD outside the United States and Canada, today
confirmed terms of an agreement with plaintiffs to resolve Plubell v.
Merck, an economic class action lawsuit pending in Missouri state
court. The class consists of Missouri consumers who purchased Vioxx, but
do not claim any physical injury, and who seek to recover damages under
the Missouri Merchandising Practices Act.
Under the agreement, Merck will pay to resolve all validated claims
submitted by class members, approved attorneys' fees and expenses, and
settlement notice costs and administrative expenses. The company
recorded a charge for this settlement in the third quarter of 2012. The
agreement is subject to court approval and certain conditions related to
"This agreement is in the best interest of the company and its
shareholders. It reduces the uncertainty of litigation and ongoing
defense costs, and helps us to remain focused on bringing forward
innovative products and services for our customers," said Bruce N.
Kuhlik, executive vice president and general counsel of Merck.
Judge Marco Roldan is presiding over the case. Merck is represented by
John Beisner of Skadden, Arps, Slate Meagher & Flom LLP and Doug Marvin
of Williams & Connolly LLP.
Today's Merck is a global healthcare leader working to help the world be
well. Merck is known as MSD outside the United States and Canada.
Through our prescription medicines, vaccines, biologic therapies, and
consumer care and animal health products, we work with customers and
operate in more than 140 countries to deliver innovative health
solutions. We also demonstrate our commitment to increasing access to
healthcare through far-reaching policies, programs and partnerships. For
more information, visit www.merck.com
and connect with us on Twitter, Facebook and YouTube.
This news release includes “forward-looking statements” within the
meaning of the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. Such statements may include,
but are not limited to, statements about the benefits of the merger
between Merck and Schering-Plough, including future financial and
operating results, the combined company’s plans, objectives,
expectations and intentions and other statements that are not historical
facts. Such statements are based upon the current beliefs and
expectations of Merck’s management and are subject to significant risks
and uncertainties. Actual results may differ from those set forth in the
The following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements: the
possibility that all of the expected synergies from the merger of Merck
and Schering-Plough will not be realized, or will not be realized within
the expected time period; the impact of pharmaceutical industry
regulation and health care legislation in the United States and
internationally; Merck’s ability to accurately predict future market
conditions; dependence on the effectiveness of Merck’s patents and other
protections for innovative products; and the exposure to litigation
and/or regulatory actions.
Merck undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise. Additional factors that could cause results to differ
materially from those described in the forward-looking statements can be
found in Merck’s 2011 Annual Report on Form 10-K and the company’s other
filings with the Securities and Exchange Commission (SEC) available at
the SEC’s Internet site (www.sec.gov).
Merck Media: Ron Rogers, 908-391-4302 or Investor: Carol Ferguson, 908-423-4465