ARTICLE | Company News

Merck neurology news

February 15, 2010 8:00 AM UTC

The Superior Court of New Jersey preliminarily approved a proposed settlement of shareholder litigation against Merck related to pain drug Vioxx rofecoxib. Under the settlement, Merck agreed to appoint a CMO and retain an independent third party to monitor its compliance with requirements to register its clinical trials and submit results to a data bank as mandated by the Food and Drug Administration Amendments Act (FDAAA) of 2007. The company also will create two new safety committees - one to address risks requiring immediate action, the other to monitor product safety - and pay up to $12.2 million in attorney's fees. A final hearing is scheduled for March 22. ...