Bayer AG and Johnson & Johnson have agreed to settle more than 25,000 U.S. lawsu...
- Bayer AG and Johnson & Johnson have agreed to settle more than 25,000 U.S. lawsuits over their blockbuster blood thinner Xarelto for a total of $775 million, court documents on Monday showed.
The amount will be shared equally between the two companies that jointly developed the drug. Bayer and J&J do not admit liability under the agreement. Plaintiffs accused the drugmakers of having failed to warn about the bleeding risks, claiming their injuries could have been prevented had doctors and patients been provided adequate information.“However, this favorable settlement allows the company to avoid the distraction and significant cost of continued litigation,” the company said.
Xarelto is Bayer’s best-selling drug. It contributed 3.6 billion euros in revenue to the German group’s pharmaceutical business last year.
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