Merck Says It Will Pay $688 Million to Resolve Two Lawsuits

Feb. 14 (Bloomberg) -- Merck & Co. said it will pay $688 million to resolve two class-action lawsuits related to the results of a drug trial from 2008.

In connection to the proposed settlement, the company recorded a $493 million charge against fourth-quarter 2012 earnings. The agreement has no effect on the company’s 2013 results, Whitehouse Station, New Jersey-based Merck said in a statement today. Link to Statement:{NSN MI7O403V7UA6 <GO>}