Plaintiffs involved in Vioxx, Fen-Phen and Zyprexa product liability lawsuits do not realize they can now get legal cash advance or lawsuit funding, while they are waiting for their lawsuit settlement money. It is called lawsuit funding and often referred as lawsuit loan, legal cash advance, legal finance, legal financing, litigation financing, pending lawsuit loan, lawsuit cash advance and lawsuit advance funding.
Vioxx is a non steroidal anti-inflammatory drug (NSAID) developed by Merck & Co. to treat osteoarthritis, acute pain conditions, and dysmenorrhoea. Vioxx was approved as safe and effective by the Food and Drug Administration (FDA) on May 20, 1999. Vioxx was supposed to be the super aspirin and block buster arthritis drug that would relieve pain safely.
On September 30, 2004, the pharmaceutical giant Merck & Co. had pulled Vioxx from the market following study results confirming earlier concerns that Vioxx increases the risk of cardiovascular problems, including heart attacks and stroke.
Vioxx was sold around the world and in all it was taken by about 20m people. A large percentage of these people suffered drastic side effects including blood clots, heart attacks, and stroke. Nearly 4,200 individual and class action Vioxx lawsuits were filed in U.S.A.
Vioxx lawsuits fall under a category known as products liability, claiming that the manufacturers of Vioxx (Vioxx lawsuit defendants) or their distributors knew that the drug could cause harm. Merck has reserved $970 million to pay for its Vioxx-related legal expenses through 2007.
It does not seem honest for the plaintiffs, that even if they would win their Vioxx settlement lawsuit, they may lose because too small settlement money comes in too late. They need money now. Most of the plaintiffs, because of their medical conditions have missed work or lost their jobs. They have to pay their mortgage/ rent, medical bills, car payments and other monthly bills. Unfortunately their options are very limited.
But now this new risk free Vioxx lawsuit settlement funding or litigation financing program is fantastic help to Vioxx product liability lawsuit plaintiffs. With a legal cash advance or pending lawsuit loan, on your Vioxx lawsuit settlement, you reduce the financial and emotional stress on you and your family.
But in right sense, these are not loans because the money does not have to be paid back unless the case is won or settled. These are non- recourse legal cash advances. It carries no risk because Vioxx product liability lawsuit plaintiffs pay only when they get their Vioxx settlement money from Defendant Company.
Litigation financing or so called Lawsuit loan can help them buy some time with a legal cash advance on their Vioxx product liability lawsuit settlement.
Vioxx Lawsuit Funding or Lawsuit Loan: How does it work?
There are many advantages of Vioxx lawsuit funding or litigation financing Program. The process to receive lawsuit loan or legal cash advance is risk free & simple. There are no monthly payments. The total process is confidential, prompt and discreet.
1. Making an application for lawsuit funding or pending lawsuit loan is free and there is no obligation. A excellent and reputed litigation financing company should not charge any upfront fee or any application fee, processing fee or any monthly fee.
2. Plaintiff may have a terrible or no credit. No employment requirement is required to apply for a lawsuit loan or lawsuit funding.
3. Quick and thorough underwriting process to qualify client (some times in 6-8 hours).
4. If approved for lawsuit funding or legal cash advance, funds are wired into your bank account, the same day. Of course, you can take a bank check also.
5. Plaintiff payback upon successful settlement/verdict of case.
6. If plaintiff loses case, plaintiff owes nothing to litigation financing or lawsuit funding company.
They can use the lawsuit loan or legal cash advance in any way they like. They can use the money for living expenses; pay their bills, mortgage/ rent / car payments, medical treatment, education expenses. As a matter of fact use it any way they like.
On April 7, 2005, FDA announced several vital changes that pertain to the marketing of non-steroidal anti-inflammatory drugs (NSAIDs). FDA has questioned that one product be withdrawn from the market, and is requiring stronger warnings in the labeling for the other products. This is a continuation of the process that started several months ago with Vioxx (rofecoxib), when Merck withdrew that product from the market because of concerns about adverse cardiovascular events. These later actions are being taken because of concerns about other NSAIDs. It’s vital to know that the new actions don’t just apply to the COX-2 selective inhibitors. They apply to both the COX-2 inhibitors and to other, non-selective NSAIDs, and they apply to both prescription and non-prescription products. FDA questioned the manufacturer of one of the COX-2 inhibitors, Bextra (valdecoxib), to withdraw it from the market based on concerns about cardiovascular events, and serious skin reactions. In its choice about Bextra, FDA noted the lack of adequate data on the cardiovascular safety of this drug when it’s used chronically, and also reports of serious skin reactions, including deaths. Another factor was the lack of demonstrated advantages of Bextra over other NSAIDs. That leaves just one COX-2 inhibitor, Celebrex (celecoxib), still on the market. FDA chose that the benefits of Celebrex outweigh the risks, provided that patients are properly selected and informed. But FDA is requiring that …
The Vioxx Claims Administrator continues to review claims and is on pace to complete its review of the heart attack claims by the end of September 2009. Since the Settlement Program’s inception, the Claims Administrator has reviewed over 30,000 heart attack claims and, by the date of this publication, will have issued interim settlement payments to over 19,000 victims of Vioxx-related heart attacks and their families. These interim settlement payments represent over $1.5 billon being distributed to Vioxx heart attack victims since payments started in August 2008. This remarkable feat is a testament to the efficiency of the Settlement Program.
Once the Claims Administrator finalizes its evaluations of the remaining heart attack claims, a final point value will be calculated. The Claims Administrator will then issue final settlement payments based upon the final point value. The Vioxx Claims Administrator has represented to the Court that the Settlement Program is currently on track for the final settlement payments for the heart attack claims to be calculated by September 30, 2009. We expect to issue final settlement checks in October 2009 to most of our clients who have been deemed eligible for compensation for their Vioxx-related heart attacks.
As of July 30, 2009, interim settlement payments have been issued to 2,086 stroke claims, and interim payments are expected in an additional 248 stroke claims in August 2009. This represents over $70 million being distributed to victims of Vioxx-related strokes and their families since payments started in February 2009. The Claims Administrator will continue reviewing stroke claims until all stroke claims are evaluated. We do not expect final settlement payments for stroke claims until sometime next year.
The Vioxx Claims Administrator continues to review claims and is on pace to complete its review of the heart attack claims by the end of September 2009. Since the Settlement Program’s inception, the Claims Administrator has reviewed over 30,000 heart attack claims and, by the date of this publication, will have issued interim settlement payments to over 19,000 victims of Vioxx-related heart attacks and their families. These interim settlement payments represent over $1.5 billon being distributed to Vioxx heart attack victims since payments started in August 2008. This remarkable feat is a testament to the efficiency of the Settlement Program.
Once the Claims Administrator finalizes its evaluations of the remaining heart attack claims, a final point value will be calculated. The Claims Administrator will then issue final settlement payments based upon the final point value. The Vioxx Claims Administrator has represented to the Court that the Settlement Program is currently on track for the final settlement payments for the heart attack claims to be calculated by September 30, 2009. We expect to issue final settlement checks in October 2009 to most of our clients who have been deemed eligible for compensation for their Vioxx-related heart attacks.
As of July 30, 2009, interim settlement payments have been issued to 2,086 stroke claims, and interim payments are expected in an additional 248 stroke claims in August 2009. This represents over $70 million being distributed to victims of Vioxx-related strokes and their families since payments started in February 2009. The Claims Administrator will continue reviewing stroke claims until all stroke claims are evaluated. We do not expect final settlement payments for stroke claims until sometime next year.
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