WHITEHOUSE STATION, N.J.--(BUSINESS WIRE)--Merck & Co., Inc. today said it has reached civil settlements with Attorneys General from 29 states and the District of Columbia to fully resolve previously disclosed investigations under state consumer protection laws related to past activities for VIOXX.
As part of the civil resolution of these investigations, Merck has agreed to pay a total of $58 million to be divided among the 29 states and the District of Columbia. In April, Merck announced it had taken a pre-tax charge in the first quarter of $55 million in anticipation of this settlement. The agreement also includes compliance measures that supplement policies and procedures previously established by the Company.
We believe that Merck acted in good faith and that the Company’s activities in support of VIOXX were intended to fully comply with relevant regulations.
“Merck remains committed to communications that help patients and their physicians choose medicines based on accurate, fair and balanced information,” said Bruce Kuhlik, executive vice president and general counsel of Merck. “Today’s agreement enables Merck to put this matter behind us and focus on what Merck does best, developing new medicines.”
About Merck
Merck & Co., Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891, Merck currently discovers, develops, manufactures and markets vaccines and medicines to address unmet medical needs. The Company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Merck medicines but help deliver them to the people who need them. Merck also publishes unbiased health information as a not-for-profit service. For more information, visit www.merck.com.
Forward-Looking Statement
This press release contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential or financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Merck undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Merck’s business, particularly those mentioned in the risk factors and cautionary statements in Item 1A of Merck’s Form 10-K for the year ended Dec. 31, 2007, and in any risk factors or cautionary statements contained in the Company’s periodic reports on Form 10-Q or current reports on Form 8-K, which the Company incorporates by reference.
Contacts Merck & Co., Inc. Media: Ron Rogers, 908-423-6449 or Investors: Graeme Bell, 908-423-5185
