Settlements Totaling $688 Million Approved in Merck Vytorin Suits

Settlements Totaling $688 Million Approved in Merck Vytorin Suits:
by Mary Pat Gallagher // New Jersey Law journal

A federal judge in Newark on Tuesday gave final approval to a $688 settlement of litigation over the cholesterol drug Vytorin.Class counsel called the settlement the largest ever in a securities-fraud against a pharmaceutical company.It resolves investors' claims that Merck & Co. and Schering-Plough Corp. concealed clinical trial results showing that the drug was no more effective than cheaper alternatives.Vytorin is a combination of Zetia and the generic drug simvastatin. The plaintiffs claimed losses from a two-year delay in the release of results from a study that found no benefit from Vytorin over use of simvastatin alone.U.S. District Judge Dennis Cavanaugh signed off on the settlement in dual actions, captioned In re Schering-Plough Corp./ENHANCE Securities Litigation and In re Merck & Co. Vytorin/Zetia Securities Litigation.

Read more: http://www.law.com/jsp/nj/PubArticleNJ.jsp?id=1202621916424&Settlements_Totaling_688_Million__Approved_in_Merck_Vytorin_Suits#ixzz2gfWwO4XQ

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