Bayer, J&J settle U.S. Xarelto litigation for $775 million
Bayer AG and Johnson & Johnson have agreed to settle more than 25,000 U.S. lawsuits over their blockbuster blood thinner Xarelto for a total of $775 million, court documents on Monday showed.
The amount will be shared equally between the two companies that jointly developed the drug. Bayer and J&J do not admit liability under the agreement.
The settlement will resolve all pending U.S. lawsuits over Xarelto, which plaintiffs claimed causes uncontrollable and irreversible bleeding leading to severe injuries and even death among thousands of plaintiffs.
Plaintiffs accused the drugmakers of having failed to warn about the bleeding risks, claiming their injuries could have been prevented had doctors and patients been provided adequate information.
TriMark Legal Funding provides non-recourse pre-settlement and post-settlement Xarelto lawsuit loans to injured plaintiffs nationwide.
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