Merck Closes In On Vioxx Settlement Goals
1 CommentBy Ed Silverman // March 3rd, 2008 // 9:29 am
The drugmaker issued a progress report in which it claims more than 44,000 of the approximately 47,000 individuals who registered eligible injuries have submitted some or all of the materials that could qualify them for an interim payment in the $4.85 billion settlement. And if the paperwork is deemed to be kosher, this would represent more than 93 percent of the eligible heart attack and stroke claims previously registered. You may recall that the deal stipulated at least a threshhold of at least 85 percent.
As of Feb. 29, Merck says the claims administrator reported more than 27,750 eligible heart attack claimants enrolled, more than 16,000 eligible stroke claimants initiated enrollment, more than 5,500 eligible combined claimants alleging death as an injury have initiated enrollment, and more than 26,500 eligible heart attack and stroke claimants alleging more than 12 months of use have initiated enrollment. These numbers don’t include another 5,000 enrollees whose eligibility has yet to be determined.
Under the settlement, US claimants who enroll in the resolution program by Feb. 29, are eligible to receive an interim payment, provided the claim ultimately qualifies for payment. In recent weeks, several plaintiffs’ firms reported that a substantial number of claimants who wanted to enroll needed additional time to submit complete enrollment packages. And so a grace period was given until March 31. Payments could start as soon as August.
Gerald Wise
I don’t understand why the injured parties can’t receive a partial payment now, we shouldn’t have to waite for our interim payment just because others have neglected to file.