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By Shankar P.The settlement clears the road ahead of Merck seeking shareholder approval for its previously announced $41.1 billion buyout of Schering-Plough, expected by year’s end.
The lawsuits accuse the companies of withholding data from clinical trials that showed the drugs to be no more effective than older and cheaper cholesterol drugs, including generic versions of Merck’s Zocor.
The agreements will allow the companies “to avoid continuing defense costs” and focus on new drug development, said Bruce N. Kuhlik, executive vice president and general counsel of Merck. The companies, however, maintained that the settlement is not an admission of “any misconduct or liability” in the Enhance case.
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