Merck agrees to proposed $27.7 million settlement over Fosamax lawsuits
More Info: Defective Drugs
Merck & Co Inc said on Monday that it was prepared to pay $27.7 million to settle lawsuits by hundreds of people who sued the company over allegations that its osteoporosis drug Fosamax caused bones in the jaw to deteriorate.
Lawyers for Merck and plaintiffs disclosed the proposed settlement at a court hearing in New York to resolve 1,140 lawsuits pending in federal and state courts. Any settlement would need to be approved by a judge.
Merck, which confirmed the agreement later on Monday, said the accord requires a 100 percent participation rate and evidence that the claimants satisfy eligibility requirements. The deal covers about 1,200 people, the company said.
“We hope to bring this to a successful conclusion,” Paul Strain, a lawyer for Merck, said at the hearing in U.S. District Court in Manhattan before Judge John Keenan, who has presided over federal litigation by plaintiffs claiming that they developed osteonecrosis of the jaw from taking Fosamax.
The condition is a disease that causes bones in the jaw to deteriorate or die.
See the original article here: https://www.reuters.com/article/us-merck-fosamax-idUSBRE9B811S20131209
About TriMark Legal Funding
TriMark Legal Funding was founded in 2003 and is one of America's leading national lawsuit funding companies. TriMark provides pre-settlement funding and post-settlement funding, sometimes called 'lawsuit loans', to injured plaintiffs throughout the United States. We offer funding on hundreds of different types of legal claims including personal injury loans, employment litigation funding, work injury accident loans, workers compensation loans, mass tort litigation funding, and multidistrict litigation funding.
We also provide immediate inheritance advance funding for heirs and beneficiaries, as well as attorney funding and law firm financing for legal practices.
|Personal Injury Lawsuits||Mass Torts|
Click here to see the original article.