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Does Merck Agreement Pave a Road Toward Change?
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The corporate governance reforms settlement agreement for Merck requires hiring a chief medical officer to serve as a sort of independent ombudsman to monitor product marketing and safety. Board members are required to take on tasks of research ethics and drug safety. Two new committees are to be formed- one on product safety and the other to address risks to the company. Michael Santoro, an associate professor of business ethics at Rutgers Business School helped draft the settlement.
The Merck corporate governance settlement agreement in the Vioxx case
04/02/2010
Corporate governance reforms enacted through a settlement agreement by pharmaceutical company Merck to settle the Vioxx case.
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