Originally published February 27 2005
Individual and class action lawsuits over Vioxx have been consolidated into one case
by Mike Adams, the Health Ranger, NaturalNews Editor
Merck, the maker of the drug Vioxx, is about the face off against one large, combined lawsuit that consolidates hundreds of individual and class actions lawsuits. Vioxx, which was found to cause an increased risk for heart attack and stroke, was pulled off the shelves voluntarily by Merck, leading them to claim that they acted in the best interests of patients. Others argue that Merck waited too long to pull the drug and ignored data proved Vioxx caused heart problems.
Inc. is one step closer to facing former Vioxx users in court, after a Wednesday ruling consolidated hundreds of individual and class action lawsuits brought against the drug company by plaintiffs alleging the painkiller caused heart damage, kidney failure and other ailments.
Under the order by the federal Judicial Panel on Multidistrict Litigation, all product liability cases filed nationwide against Whitehouse Station, N.J.-based Merck will be reassigned to a New Orleans federal court for pretrial proceedings.
Several shareholder securities class actions also have been filed against Merck in federal courts around the country---claiming top executives misled investors about the drug's safety---but a consolidation decision for those cases has not yet been made.
Last September, Merck pulled its arthritis medication Vioxx from markets worldwide when studies found that the drug increased patients' chances of a heart attack or stroke.
The company has since established a reserve of $675 million for future costs of legal defense and investigations associated with Vioxx.
Additionally, to help cover related personal injury damages and legal defense costs, Merck has nearly $630 million in product liability insurance, it said in a 2004 fourth quarter earnings report.
For potential securities liability, Merck has at least $190 million in directors and officers liability coverage, at least $275 million in Employment Retirement Income Securities Act claims coverage, and possible additional coverage available under upper-level excess policies.
The company Wednesday issued a statement saying it "intends to vigorously defend itself" in future Vioxx litigation.
Merck "acted responsibly every step of the way" and "acted in the best interest of its patients," the statement said.
Vioxx-related lawsuits have also been filed in other countries, including Canada, Brazil and Israel.
All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing LLC takes sole responsibility for all content. Truth Publishing sells no hard products and earns no money from the recommendation of products. NaturalNews.com is presented for educational and commentary purposes only and should not be construed as professional advice from any licensed practitioner. Truth Publishing assumes no responsibility for the use or misuse of this material. For the full terms of usage of this material, visit www.NaturalNews.com/terms.shtml