A federal judge denied class action status for several thousand
lawsuits against Bayer for its recalled statin drug Baycol in
September 2003. At that time, Bayer said it had paid out $477
million in Baycol settlements out of court for 1,342 cases in
the U.S. Bayer has stated it will continue to battle against any
Baycol settlements when finding evidence that Baycol was not to
blame in the case. The company still faces over 11,000 Baycol
cases that still can end up in court or in a Baycol settlement.
An up hill battle, Bayer plans on reviewing each of the Baycol
claims before deciding on a possible fair Baycol settlement. The
shares of Bayer over the year have reflected the uncertainty the
company has faced and still faces as various decisions have been
made and with a high number of Baycol settlement still a possibility
for the future, Bayer will remain on its’ roller coaster.
Reports showed that more than a year after the Baycol recall
was announced many patients and physicians were still unaware
of the safety withdrawal, making the possibility of even more
Baycol settlements greater.
For more information on Baycol lawsuits and Baycol settlements