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Merck & Co Inc To Pay $688 Million To Settle Enhance Lawsuits-Reuters

Thursday, 14 Feb 2013 09:20am EST 

Reuters reported that Merck & Co Inc on February 14, 2013 said it has agreed to pay $688 million to settle two U.S. investor lawsuits over disclosures of the results of a clinical trial involving the anti-cholesterol drug Vytorin. The lawsuits alleged that Merck and Schering-Plough Corp knew far in advance that the trial was a failure, but withheld that information from investors. The trial, known as Enhance, had sought to demonstrate that Vytorin, a combination drug marketed by the two companies, was more effective than a competing drug in combating plaque build-up on artery walls. Investors claimed they lost money in both companies' securities after results of the clinical trial were published. In a statement, Merck said it will pay $215 million to settle a lawsuit brought against Merck defendants, and $473 million to settle a lawsuit against Schering-Plough defendants. 

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