Learn about the $4.85 Billion Vioxx Settlement from Anapol
Here is a brief summary of the Vioxx settlement. If you would like to receive a more in-depth analysis of the Vioxx settlement, please fill out the form below.
On November 9, 2007, Merck & Co., Inc., agreed to pay $4.85 billion to settle the majority of the Vioxx claims – a litigation in which Anapol Schwartz partners Sol Weiss and David Jacoby played an instrumental role.
The settlement terms require a complex, 70-page agreement, establishing many hurdles before a person qualifies for compensation. To qualify for a monetary award under the settlement, a claimant must initially satisfy three criteria: (1) the alleged injury must have been a heart attack or an ischemic stroke; (2) at least 30 pills of Vioxx must have been dispensed in a 60-day period at some point prior to the alleged injury; and (3) there must be evidence that the claimant used Vioxx within 14 days of the alleged injury.
For those claimants meeting settlement criteria, a precise calculation must be performed to determine compensation. The Vioxx calculator (see: officialvioxxsettlement.com) requires answers to a series of questions about the claimant's injury, length of Vioxx use and medical history to arrive at a number of basis points that a claimant has received. The more severe injuries/minimal medical histories will receive higher basis points, whereas lesser injuries and greater risk factors will receive lower point values. Each basis point will then be assigned a dollar value, i.e., $1,500 per basis point for a heart attack claimant. The calculator will then multiply the number of basis points by the assigned dollar figure to determine the claim's value. Because the number of claimants who will qualify under the settlement is still unknown, the dollar figure for each basis point is still undetermined, although it has been estimated between $1,500 and $2,000.
Under the settlement terms, a claims administrator (the Brown Greer law firm) has been appointed to determine if the criteria have been established. Should the claims administrator find a claimant who does not qualify, the claimant's records are automatically reviewed by a gate committee comprised of Merck representatives and others. This committee has the authority to overrule the claims administrator's findings. A claimant found not to qualify by the gate committee, can either opt out of the settlement program at that point and return to the court system, or make a final appeal to a special master. Should the special master agree that a case does not qualify for a recovery; the claimant is barred from recovering under the settlement program or the courts.
Currently, Anapol Schwartz is reviewing all of its filed claims to determine who will qualify for a recovery and if so, what those claimants can expect to receive.
Would you like to receive the Anapol Schwartz analysis of the Vioxx settlement? Complete the form below and we will e-mail you the analysis.
Anapol Schwartz Partners Sol Weiss and David Jacoby served as co-liaison counsel in the NJ Vioxx litigation, representing more than 900 victims.
Sol Weiss, Esq.
David Jacoby, Esq.
Contact Sol Weiss, Esq. at 215-735-2098 or email@example.com, and David Jacoby, Esq. at 856-488-5484 or firstname.lastname@example.org