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Baycol Settlement

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 contact us.

 



 

 



 

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"Baycol class action status granted in Pennsylvania"
March 2004

Bayer's Baycol cholesterol drug was recalled in August 2001 and is now linked to over 100 deaths. The company has so far paid $842 million to settle 2,224 cases but still faces 9,948 more Baycol cases. Now the company is facing a class action in Pennsylvania that would force Bayer to pay for monitoring the effects of former Baycol patients. While the certification ruling is just the first step in a possible Baycol class action trial, Bayer appears to be facing many more battles over its recalled drug in the future.

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