Judge Orders Merck to Reveal Trial Cost,: "Judge Orders Merck to Reveal Trial Cost,
By THERESA AGOVINO AP Business Writer
© 2006 The Associated Press
NEW YORK — A N.J. judge ordered Merck & Co. on Tuesday to release records on how much it spent on a trial involving its Vioxx painkiller.
The information would provide a window into how much Merck spends on its trials, and what its legal defense costs could be in the future. More than 21,000 suits have been filed against Merck, which has vowed to try each case over Vioxx.
So far, Merck has reserved $970 million for legal costs and spent $285 million of that last year.
Judge Carol Higbee's order stems from a request from plaintiffs' lawyers that Merck pay their legal fees and expenses of roughly $5.6 million for a trial that combined the cases of two men who suffered heart attacks while taking Vioxx. The jury found that Merck committed consumer fraud in its marketing of Vioxx, and that finding allows plaintiffs firms to ask for legal fees."
By THERESA AGOVINO AP Business Writer
© 2006 The Associated Press
NEW YORK — A N.J. judge ordered Merck & Co. on Tuesday to release records on how much it spent on a trial involving its Vioxx painkiller.
The information would provide a window into how much Merck spends on its trials, and what its legal defense costs could be in the future. More than 21,000 suits have been filed against Merck, which has vowed to try each case over Vioxx.
So far, Merck has reserved $970 million for legal costs and spent $285 million of that last year.
Judge Carol Higbee's order stems from a request from plaintiffs' lawyers that Merck pay their legal fees and expenses of roughly $5.6 million for a trial that combined the cases of two men who suffered heart attacks while taking Vioxx. The jury found that Merck committed consumer fraud in its marketing of Vioxx, and that finding allows plaintiffs firms to ask for legal fees."
posted by Chris Placitella | 4:58 AM
0 Comments:
Post a Comment
<< Home