Merck & Co., Inc. (MRK) To Settle NuvaRing Lawsuits For $100 Million
2/7/2014 7:02:32 AM
Merck & Co has agreed to pay $100 million to settle hundreds of lawsuits accusing the U.S. drugmaker of downplaying serious health risks associated with its NuvaRing contraceptive device, Bloomberg reported on Thursday, citing people familiar with the deal. The agreement, which would settle cases in federal and state courts, will be announced on Friday and pay about $58,000 per complaint, according to the report. Merck is facing more than 1,700 lawsuits accusing it of failing to adequately warn NuvaRing users or downplaying a potential increased risk of developing dangerous blood clots known as venous thromboembolism, according to a recent filing with the U.S. Securities and Exchange Commission.
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