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 The agreement could still collapse, though lawyers with knowledge of the deal said that was unlikely, the New York Times reported. The deal becomes binding only if 85 percent of all plaintiffs agree to drop their cases.
Merck could put the uncertainty of millions of dollars in possible settlements that have plagued pharmaceutical company behind it, though it has been successful fighting cases individually.
Analysts predicted early on that liability could reach $50 billion, but after losing its first case in a $253 million verdict, Merck has won a string of civil cases in numerous states.
The company said last month it had added $70 million to its reserves for defending lawsuits over the blockbuster painkiller that it pulled from the market three years ago. As of Sept. 30, Merck had reserved a total of $1.92 billion for legal expenses and spent a total of $1.2 billion.
Payments would vary, depending on injuries and the length of time that Vioxx was used.
"We've been asked by the judge to talk to the plaintiffs and we are talking to them," Kent Jarrell, a spokesman for Merck, told the New York Times. "Right now, there is no finalized agreement."
Two attorneys told the paper, however, confirmed it independently, the Times reported.
Merck still faces a number of government investigations, both state and federal.
[Associated Press]
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