Analysts Predict Merck’s Vioxx Liabilities Could Hit $50 Billion
In
Wake of Texas Verdict, Estimates Almost Double Those Previously
Anticipated
Merck
Is Found Liable for Man's Death in Vioxx Trial
After Merck & Co.
was assessed a $253+ million verdict in the first Vioxx trial in August
2005, financial analysts began adjusting their estimates on the size of
future jury awards or settlements. Prior to the trials, the payout by
Merck was predicted to be between $100,000 and $300,000 for each
lawsuit, for a potential total payout of $2 billion. With the end of the
landmark trial, analysts’ estimates have escalated to as high as $50
billion.
The primary reason
for the revised estimates is attributed to the loss by Merck and Co. of
its first wrongful-death verdict in a Vioxx case. In Carol A.
Ernst, et al. v. Merck & Co. Inc.,
the plaintiff’s claim was not considered especially
strong and the drug company thought the case winnable. However,
the Texas jury awarded the family of Robert Ernst
$24.4 million in actual damages and $229
million in punitive damages. The final award will not exceed
$26.1 million due to Texas caps on punitive damages.
Analysts anticipate
that the loss will continue to spawn significantly more claims against
Merck. Before the trial, approximately 4,200 cases were filed against
the drugmaker and the current claim estimates now top 5,000. An August
22, 2005,
Forbes.com article states that the total liability for Merck could
approach $50 billion.
Merck has
consistently declared that they would fight each personal injury
lawsuit. However, on August 26, 2005, Merck officials stated that the
company will now consider settling some Vioxx cases, specifically those
claims where plaintiffs took the drug for at least 18 months and had few
other risk factors for cardiac disease. Analysts say that this swift
change in
strategy may not help Merck in the long run because there is no
guarantee that settling cases will save the company time and money.
The second Vioxx
trial is scheduled to begin in AAJntic City on September 12. Citing
pre-trial publicity, Merck had requested a 45-day delay, but that
request and others were rejected by a New Jersey judge. The
Superior Court Judge who oversees the nearly
2,500 Vioxx product liability cases that have been filed in that state
also
rejected Merck motions that included excluding some of the company’s
marketing and promotional materials related to Vioxx, as well as
information related to the plaintiff’s Vietnam record of valor.
Merck’s first trial
in federal court is slated to begin Nov. 28 in New Orleans..
If
you, or a loved one, has taken Vioxx and suffered any side effects, our
firm can help protect your rights.
Our in-house legal team consists of a
physician-attorney, five registered nurses, 10 attorneys, and more
than 30 staff-members. As one of the nation's premier pharmaceutical
liability law firms, we represent consumers nationwide who have
been victimized by defective pharmaceutical drugs, including Vioxx.
We have the
experience to protect your legal rights and to help you obtain the
compensation you deserve. If you or a loved one has suffered serious
side effects from the use of Vioxx, please
contact us for an
immediate case evaluation.
Many law firms that advertise aggressively on the Internet are actually
client brokers who refer virtually all clients to lawyers in other firms
and other cities who do the actual work of representing the client.
Janet, Jenner & Suggs, LLC, is a traditional law firm that actively
represents all of our clients.
Robert K. Jenner
and Kenneth Suggs, leaders of the
pharmaceutical department within the firm, will always be accessible to
you. Mr. Jenner and Mr. Suggs, nationally recognized advocates on behalf
of victims of defective pharmaceutical products, and their highly
experienced team, will always be ready to answer your questions.
Our in-house legal team
consists of a physician, five registered nurses, 13 attorneys, and more
than 30 staff-members. As one of the nation's premier pharmaceutical
liability law firms, we represent consumers nationwide who have been
victimized by defective pharmaceutical drugs. We have the experience to
protect your legal rights and to help you obtain the compensation you
deserve. If you or a loved one have suffered serious side effects from
the use of Vioxx, please contact
us for an immediate case evaluation.
If you have suffered
an injury, illness, or pain and suffering
because of Vioxx, we can assist you in
determining if you are entitled to receive
compensation for the harm caused to you. Time
is of the essence. Litigation may be the only
way to receive the damages to which you may be
entitled. Such damages will likely include
lost wages, medical bills, and/or financial
compensation to heirs (in the case of a wrongful
death). Our MedLaw Legal Team of experienced
pharmaceutical attorneys, nurse lawyers,
on-staff physician, and certified nurse
paralegals will review your situation and inform
you promptly as to whether we can assist you in
making a claim.
Please
contact us today
for a FREE legal evaluation: 1-888-4-MEDLAW
RELATED INFORMATION:
About Our Law
Firm
Our Attorneys
Contact Us
|
|
Back To Top
|