Merck has told the SEC that it has not established any reserves for potential liability relating to Vioxx lawsuits or investigations, including for those cases in which a verdict has been entered against the company and which are now in post-verdict proceedings or on appeal.
The company has filed with SEC on August 7, 2006, that its insurance coverage with respect to Vioxx lawsuits will not be adequate to cover defense costs and any losses.
Merck has product liability insurance for claims brought in Vioxx Product Liability Lawsuits with upper limits of about $630 million after deductibles and co-insurance.
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