Merck extends Vioxx settlement deadline

Executive Summary

Merck is extending to June 30 the deadline for eligible claimants to enroll in the Vioxx settlement agreement. Under the agreement, Merck agreed to pay a fixed amount of $4.85 billion to cover 45,000 to 50,000 heart attack and stroke claims (1"The Pink Sheet," Nov. 12, 2007, p. 11). The deal is contingent on participation of 85 percent of all plaintiffs with pending and tolled claims against the company. Merck said that as of March 31, it appears that at least 94.5 percent of eligible claims in each category had initiated enrollment