Kenilworth, N.J.-based Merck & Co. agreed to pay an additional $830 million in a class-action lawsuit brought by shareholders, which alleged that the drugmaker made false and misleading claims about its painkiller Vioxx.
In a press release, the company said cash payments for the settlement and fees would amount to $680 million, with the remaining funds paid from insurance. Merck In the settlement, the company admitted no wrongdoing.
In the suit, shareholders also alleged that the company withheld information about the drug’s cardiovascular safety profile in its clinical trials. Previous lawsuits include a $4.85 billion settlement in 2007 and a $950 million settlement with the U.S. Justice Department in 2011.