Overnight, Merck filed its second quarter SEC Form 10-Q. And since its been a bit since we last mentioned the status of the above litigation, here is the updated paragraph — from Note 8, page 20 — on litigation.
I would also recommend the readership look at the description of the patent litigation between Merck and BMS related to the immuno oncology franchises. Actually, scratch that — I’ll make it a separate post, later today — as time permits. Here is the finasteride update — with nothing really new:
. . . .As previously disclosed, Merck is a defendant in product liability lawsuits in the United States involving Propecia and/or Proscar. As of June 30, 2016, approximately 1,360 lawsuits have been filed by plaintiffs who allege that they have experienced persistent sexual side effects following cessation of treatment with Propecia and/or Proscar. Approximately 50 of the plaintiffs also allege that Propecia or Proscar has caused or can cause prostate cancer, testicular cancer or male breast cancer.
The lawsuits have been filed in various federal courts and in state court in New Jersey. The federal lawsuits have been consolidated for pretrial purposes in a federal multidistrict litigation before Judge Brian Cogan of the Eastern District of New York. The matters pending in state court in New Jersey have been consolidated before Judge Mayer in Middlesex County. In addition, there is one matter pending in state court in Massachusetts and one matter pending in state court in New York. The Company intends to defend against these lawsuits. . . .
Onward now — to a fine summer’s morning — fresh coffee, OJ and a banana. Smiling. . .