Plaintiffs v Merck & Co (MRK.N) and Schering-Plough Corp (SGP.N)
Merck & Co (MRK.N) and Schering-Plough Corp (SGP.N) Will Pay $41.5 Million To Settle Class-Action Lawsuits
Merck & Co (MRK.N) and Schering-Plough Corp (SGP.N) will pay $41.5 million to settle class-action lawsuits over their shared cholesterol drugs Vytorin and Zetia, the companies said.
The suits involved allegations arising from the Enhance clinical trial, whose results released in January 2008 raised questions about the worth of Zetia and Vytorin.
Merck and Schering-Plough, which have agreed to merge, sell the blockbuster medicines through a joint venture. Vytorin combines Zetia and an older statin drug, Zocor, into one pill.
The settlement will resolve all the class-action lawsuits that seek economic damages related to the purchase of the two drugs, the companies said. They have disclosed about 145 such lawsuits pending in federal court in New Jersey.
The agreement involves two settlements: one with consumers and other entities that purchased the drugs, and one with health plans. The settlement with consumers is subject to court approval; the other is not.
The Enhance study found that Vytorin was no more effective in reducing plaque in the carotid arteries than an inexpensive generic form of Zocor (simvastatin).
Last month, the companies agreed to pay $5.4 million to 35 states to settle allegations they delayed negative findings from the Enhance study.
For more information please contact:
Global Headquarters
Schering-Plough Corporation World Headquarters
2000 Galloping Hill Road
Kenilworth, N.J. 07033-0530
Telephone: (908) 298-4000
