Merck pays $4.85bn into a settlement fund for VIOXX claims

Merck & Co has announced that it has entered into an agreement with law firms over the ongoing VIOXX litigation. According to Merck, “if certain conditions under the agreement are met, the company will pay a fixed amount of $4.85bn into a settlement fund for qualifying claims that enter into the resolution process. This is not a class-action settlement. Claims will be evaluated on an individual basis.”