Merck posts loss due to Vioxx settlement
Merck & Co. on Tuesday posted a $1.63 billion loss in the fourth quarter as whopping charges, mainly for its Vioxx litigation settlement, dragged down results.
It has been reported that Merck Sharp & Dohme, a unit of Merck & Co, will be pledging guilty to one count of misbranding Vioxx with a penalty of $321.6 million criminal fine as well as $628.3 million in order to settle civil claims regarding the sale of Vioxx for unapproved uses along with fake statements about its cardiovascular safety.