- Merck (MRK +0.8%) reportedly agrees to pay $100M to settle more than 1,700 lawsuits alleging its NuvaRing contraceptive device causes potentially fatal blood clots.
- The settlement, which resolves cases in federal and state courts in Missouri and New Jersey, would provide an average payout of more than $58K a case.
- The settlement allows MRK to pay less than other competing contraceptive makers did to resolve lawsuits over their products; Bayer said last year it paid more than $1.6B to settle claims over its Yasmin and Yaz lines of birth control pills which allegedly caused blood clots that led to strokes and heart attacks.
Merck said to agree to $100M NuvaRing settlement
Feb 7 2014, 10:57 ET