Bayer settles 2,861 Lipobay/Baycol cases for $1.1B
Germany's Bayer says it has settled over 2,800 cases regarding the withdrawal of its cholesterol-lowerer Lipobay/Baycol (cerivastatin) in 2001, for a total of just under $1.1 billion in out-of-court deals. The company stopped selling the drug following its link to a rare muscle-wasting syndrome and about 100 patient deaths (Marketletters passim).
In an update posted on its website, Bayer said it has now reached 2,861 settlements and agreed to pay a total of $1.094 billion without admitting liability. Some 7,577 suits are still pending, it noted.
Earlier this year, Bayer reached an agreement with most of its insurers on coverage of around $1.2 billion for litigation related to the Lipobay withdrawal (Marketletter March 15).
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