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Subscribe To Our Syndicated NewsBayer settles 3,000 Baycol lawsuits worldwide
May 10, 2005
Bayer AG said that as of April 25 it has paid $1.133 billion to settle 2,995 Baycol cases worldwide. Its blockbuster drug Baycol was recalled in 2001 after it was linked to the deaths of about 40 people at the time.
On average, the company paid $381,224 to settle each case, and in the annual general meeting in late April, Bayer said there are now fewer than 6,000 Baycol lawsuits pending compared to the 6,174 cases in March.
On March 15, Bayer said it had paid $1.126 billion to settle 2,972 cases worldwide. The Baycol recall was costly for Bayer, but the withdrawal came after increasing evidence that the drug caused deterioration in the muscle tissue, called rhabdomyolysis, was discovered.
For more information on the Baycol recall, please contact us.
