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Baycol Settlements
Baycol:
Baycol Settlements
In 2003, there
have been a number of Baycol settlements in the U.S. - These
settlements have been involving injuries related to a condition called
rhabdomyolysis, which the patients developed after taking the drug.
Following is an
Associated Press article from March 10, 2004:
Bayer
Reaches Deal On Cholesterol Drug
03/10/04 - German
drug maker Bayer AG has reached an agreement with most of its insurers
on coverage of around $1.2 billion for litigation related to the
2001 withdrawal of a cholesterol-lowering drug.
In a statement
Tuesday night, Bayer also said it had put aside 300 million euros
($369 million) in its 2003 fiscal year to cover additional settlements
and defense costs. The insurers "had previously proceeded only
on a provisional basis," the company said.
Bayer pulled
Lipobay, marketed as Baycol in the United States, in August 2001
after it was linked to a rare muscle-wasting syndrome and about
100 patient deaths.
On Tuesday,
the Leverkusen-based company said it has now reached 2,224 cases
related to the drug, paying out $842 million without admitting liability.
Another 9,948
cases were pending in the United States as of March 5, Bayer said.
"Where
facts have been developed in the course of the litigation, it so
far appears that the vast majority of plaintiffs did not suffer
serious side-effects," its statement said.
If
you have an interest in the Baycol lawsuits, it is much to your advantage
to contact an attorney who advertises having experience and knowledge
in Baycol settlements. There are various lawyers devoted to these
cases and most offer services on a no-win no-fee basis. This is an
important factor to determine when contacting an attorney.
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