Merck Settles With IRS for $2.3 Billion
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
TRENTON — Merck & Co., mired in multibillion litigation over its withdrawn painkiller Vioxx, has eliminated another legal headache, resolving several tax disputes with the Internal Revenue Service by agreeing to a $2.3 billion settlement. In announcing the agreement yesterday, the company said the settlement resolves all outstanding tax disputes with the IRS, covering the years 1993 through 2006. Merck owed as much as $3.8 billion, but the agreement apparently reduced that amount.
