Merck Reports Insurance Concerns over Vioxx Litigation

WASHINGTON, D.C. - Merck & Co. Inc.'s current insurance coverage with respect to the Vioxx litigation may not be sufficient to cover its defense costs and any court losses over the withdrawn painkiller, according to the company's latest quarterly report filed with the SEC.

For the more than 14,200 Vioxx product liability lawsuits filed against Merck as of June 30, the company said it has insurance coverage with upper limits of approximately $630 million after deductibles and co-insurance.

The company added that it has not established any reserves for potential liability relating to the lawsuits or other investigations, including for …