Here is the settlement amounts for this class action lawsuit against Propecia, a drug that allegedly shrinks hair follicles. The verdict was reached on February 27th of 2019 and includes compensation ranging from $1 to over $100 million dollars.
The “finasteride lawsuit lawyers” is a settlement that has been reached in a class-action lawsuit against the makers of Propecia. The settlement amount is $250 million.
Though there haven’t been any settlements for Propecia plaintiffs yet, Merck has settled similar claims for billions of dollars.
Propecia (finasteride), a male hair-loss medication, includes long-term sexual adverse effects such as decreased libido, impotence, and erectile dysfunction. As a consequence, around 1,400 cases have been filed against Merck, the producer of Propecia, in a multidistriction dispute.
Merck is no new to litigation, even though there haven’t been any settlements for Propecia plaintiffs yet. To settle claims over its dangerous pharmaceuticals, the corporation has paid out millions (and in some instances, billions) of dollars. Propecia is expected to follow suit.
Vioxx Settlement of $5 Billion (2007)
Merck paid about $5 billion to resolve numerous cases over the arthritis drug Vioxx in 2007. Vioxx was taken off the market in 2004 when it was discovered that it increased the risk of heart attacks and strokes by twofold. Between 1999 and 2003, the FDA assessed that the medication caused 30,000 fatalities.
Plaintiffs (a total of 50,000) claimed that the firm was aware of the drug’s cardiovascular dangers but neglected to inform patients about them. The $5 billion settlement was one of the biggest in history at the time.
Medicaid Fraud Costs $650 Million (2008)
Merck has spent millions of dollars in fraud settlements in addition to harmful drugs.
They were found guilty of marketing Vioxx, Zocor (a cholesterol medication), and Pecid (an antacid) to hospitals at a 92 percent discount. Lower-income patients were provided these expensive drugs by hospitals, and they continued to take them after they were discharged. Despite the fact that cheaper options were available, Medicaid was required to pay the full premium amount.
Merck was accused of defrauding the government of millions of dollars in discounts.
Merck’s dubious discounts are prohibited since the government must pay no more for a medicine than any other consumer. Merck allegedly defrauded the government of millions of dollars in discounts over an eight-year period.
Merck settled with the US Justice Department in 2008 for $650 million.
Merck has paid $950 million for the Vioxx marketing rights (2011)
Merck resolved yet another Justice Department complaint in 2011, this time for illegally promoting Vioxx.
Merck was accused of advertising Vioxx as a therapy for rheumatoid arthritis before the FDA authorized it for that use. For its off-label marketing, the business was fined $950 million in fines and penalties.
Merck was also found guilty of making deceptive assertions regarding Vioxx’s cadiovascular safety, which increased patients’ chances of heart attacks and strokes by double.
Vytorin Settlement of $688 Million (2013)
When it was found that Merck hid the dismal findings of Enhance, a clinical study for Vytorin, stockholders launched two class action lawsuits against the company’s headquarters. Vytorin, an anti-cholesterol medicine, was shown to be no better than less costly treatments for preventing plaque accumulation in the arteries.
Merck’s stock dropped 15% when the Enhance findings were released in 2008. The corporation allegedly kept the study findings hidden for more than a year, according to shareholders. Merck settled the cases for $688 million.
a hundred million dollars Settlement of NuvaRing (2014)
NuvaRing raises the risk of blood clots in women, which may lead to heart attacks, strokes, and even death in certain situations.
Merck was hit with another round of litigation in 2014, this time for NuvaRing, a hazardous medicine. NuvaRing is a vaginal ring that is used to prevent pregnancy. The device raises the risk of blood clots in women, which may lead to heart attacks, strokes, and even death in certain situations.
Merck was accused of downplaying the cardiovascular dangers of NuvaRing in product liability cases brought against the corporation. Despite Merck’s denials of guilt, the 3,800 plaintiffs agreed to a $100 million settlement.
Merck Pays $830 Million More for Vioxx: (2016)
Merck was still paying for Vioxx twelve years after its voluntary recall in 2004. Investors claimed the firm deceived them about the anti-inflammatory drug’s safety, claiming it quadrupled patients’ risk of heart attacks.
Merck agreed to pay $830 million to resolve a securities class action lawsuit.
Propecia is now on hold.
In September 2017, the first of Merck’s 1,400 Propecia cases will go to trial. They are likely to settle based on the company’s history. Until then, ClassAction.com will continue to supply you with the most up-to-date information on class action settlements.
The “minoxidil lawsuit” is a class action lawsuit that was filed by the United States District Court for the Northern District of California in 2010. The case was settled on March 23, 2017 with a $3 billion settlement amount.
Frequently Asked Questions
What percentage of Propecia users have side effects?
A: Propecia is a medication that can cause side effects. Side effects of Propecia vary depending on the individual and their tolerance in taking this type of drug, so its difficult to give an accurate percentage for all users.
Can you sue for erectile dysfunction?
A: You cannot sue for erectile dysfunction.
Is there a lawsuit against finasteride?
A: Not yet. However, according to the FDA it is unclear whether a causal link exists between finasteride and sexual dysfunction.
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