The pharmaceutical company Bayer Healthcare and its US partner Janssen Pharmaceuticals Inc. agreed to a settlement totaling $775 million with a large number of plaintiffs. It's about 25,000 lawsuits due to inadequate risk information and alleged side effects of the anticoagulant Xarelto. According to Bayer, each company will cover half. The Group's share is partially offset by its product liability insurance.
Xarelto is the trade name for the drug rivaroxaban. Its uses include treating and preventing blood clots in the leg or lungs and preventing strokes in people with irregular heartbeats. The drug was aggressively advertised on television. The commercials also featured celebrities such as comedian Kevin Nealon, golfer Arnold Palmer and NASCAR driver Brian Vickers.
The litigation, which dates back to 2014, was consolidated in federal court in New Orleans. The lawsuits against Bayer Healthcare and Janssen Pharmaceuticals allege that doctors and patients were not fully informed about the risks they allegedlife-threatening complicationshave led. The drug has been linked to serious health problems such as internal bleeding and strokes and even death.
The plaintiffs' lawyers called the settlement a "fair and equitable solution." “It may have taken more than four years and six separate lawsuits, but litigation like this is an important opportunity for consumers to have a voice in drug safety,” said lead plaintiff attorney Brian Barr.
The pharmaceutical company remains convinced that the lawsuits are unfounded, the company said in a press release. Six previous cases had been decided in favor of the pharmaceutical companies. However, the company said the “favorable settlement” allows it to avoid the costs of continued litigation.
“Xarelto’s safety profile remains positive and unchanged, as consistently confirmed by regulatory authorities worldwide,” Bayer officials said in a press release. “We remain committed to the more than 45 million patients prescribed Xarelto worldwide and focused on developing new therapies that improve patients’ lives and well-being.”
