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Baycol Class Action

In September 2003, a federal judge denied giving several thousand lawsuits against Bayer a Baycol class action status. After the Baycol class action decision was made, Bayer shares greatly increased. Although the Baycol class action denial appeared to be a victory for the company, Bayer still faces 11,000 Baycol claims and has already paid $477 million to settle out of court 1,342 claims.

The decision to deny Baycol class action status was because the U.S. District Judge ruled the cases were too diverse in issues and medical conditions to qualify as one Baycol class action. At the time of the Baycol recall, 416 cases of rhabdomyolysis had been reported amongst Baycol patients, with 31 of them resulting in death. Bayer had opposed a Baycol class action status from the start because in a statement issued by the company it described the possibility of a Baycol class action as “unmanageable”.

Bayer’s shares have been up and down all year in response to various Baycol related news, as the latest Baycol class action denial has displayed. Upon news that a possible Baycol class action could greatly cause liabilities to exceed Bayer’s insurance cover, shares had halved. Due to the differences in state laws, medical histories, Baycol dosages, and Baycol use with other drugs, Bayer kept its’ stance the entire duration of the Baycol class action ruling that the judge should not approve a Baycol class action. Lawyers are still reviewing options to appeal the denied Baycol class action.

For more information on Baycol and Baycol class actions, please contact us to confer with a Baycol class action lawyer.

 

 

 



 

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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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