Vioxx class action lawsuits hearings begin
What some Vioxx attorneys are calling as the "Mother of all class action lawsuits" had a start last week in Florida. Because of the number of victims being huge (140,000 Americans alone injured, and out of that as many as 50,000 may be dead), Merck's Vioxx liabilities could be as much as $55 billion leading many analysts to speculate that Vioxx litigation could sink Merck.
Vioxx litigation is not going to be easy either for Merck or the plaintiffs. Merck has mounted a ferocious attack on Vioxx victims and has vowed to fight each lawsuit. Merck's case is quite weak though and such an aggressive public stance is merely a way to keep the company breathing its last breath till the cases wind their way through the courts. That could take years.
The number of Vioxx lawsuits is exploding and keeps growing on a daily basis. In its filings with the SEC last week, Merck had disclosed that as of January 31, 2005, approximately 850 lawsuits were filed. According to documents filed with the courts last week, that number has already jumped to 1,357. (Related article: Tough Vioxx litigation expected)
In the meantime, Merck is awaiting a final decision from the Food & Drug Administration Agency (FDA) if it will be allowed to resume sales of Vioxx in the United States. Last month in a bizarre development a panel filled with experts with financial ties to Merck recommended that Vioxx is safe to be to sold to Americans once again. The recommendation has been widely criticized due to the conflict of interest of those who voted in favor of this decision. The reason this is happening is that FDA routinely favors drug companies and this is one reason why Senator Charles Grassley has started a campaign to reform the agency. It is, however, expected that the powerful pharmaceutical lobby groups in Washington will prevail and Vioxx may be back on the market.
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