Bayer Reaches USD 775 Million to Settle Xarelto Litigation | Financial Buzz

Bayer Reaches USD 775 Million to Settle Xarelto Litigation

Previously consumers accused drug-makers on failing to warn the severe side-effects of Xarelto, a blood thinner that consumers have claimed to have serious bleeding, even leading up to death.  Legal action has enacted against the drug maker Bayer A.G.  Over 20,000 patients have suffered extreme bleeding and filed lawsuits against Bayer.

Over five years after the litigation began, Bayer and Janssen Pharmaceuticals prevailed in all six cases that went to trial.  The companies reached an agreement to settle in the amount of USD 775 Million.  A total of 25,000 Xarelto claims will be solved with this settlement. 

Bayer continues to deny these claims and questions their merit.  “However, this favorable settlement allows the company to avoid the distraction and significant cost of continued litigation,” the company said.  The company will not admit they are liable.  The settlement will close the litigation, thus saving the company huge costs of keeping the litigation open any further. 

Although the litigation cost the company, Xarelto’s safety profile remains positive and regulatory agencies still utilize it worldwide.  Over 45 million patients have been prescribed Xarelto worldwide and the company’s focus continues to be development of new therapies to improve the lives and well-being of patients.