According to a report published in Equities.com, it appears that the latest in-court status conference revealed an agreed settlement of the Boles Fosamax® ONJ claims. Do go read it all, but here is a bit:
. . . .A Fosamax lawsuit filed by a woman who suffered from Fosamax jaw damage has reached a confidential damages agreement. . . . The plaintiff, Shirley Boles, first brought a claim against Merck & Co., manufacturer of the popular osteoporosis drug, in September 2009, alleging that the drug caused her to suffer from osteonecrosis of the jaw. The first Fosamax jaw lawsuit resulted in a mistrial. In a subsequent trial in June 2010, a jury awarded Boles $8 million in damages—which a judge later deemed excessive, and reduced to $1.5 million. Rather than accepting the reduced amount, Boles sought a third trial which was set to begin this month. However, before the trial commenced, the parties reached a confidential damages agreement. The amount of damages has not been disclosed. . . .Good news for all involved -- and it removes some uncertainty from Merck's exposure profile here. Even so, the next Fosamax case -- Scheinberg -- goes to trial on January 15, 2013.
1 comment:
Though, I wonder. This reminds me of the old days when everyone (e.g., Schering-Plough) jumped on the bandwagon for drug screening library/paradigm of combinatorial chemistry provided by Pharmacopeia back in the 90s. Or more recently, the whole siRNA non-event.
Just another way to pad the stock price.
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