Johnson & Johnson and Bayer to pay $775M to settle Xarelto suits
Johnson & Johnson and Bayer agreed Monday to pay $775 million to settle almost 25,000 lawsuits in connection to blood thinner Xarelto.
Each company will pay 50 percent of the settlement, according to The New York Times. The payment ends both state and federal cases — the New Brunswick, New Jersey-based Johnson & Johnson jointly markets Xarelto with Bayer, which is based in Germany.
Patients sued both companies, which failed to issue warnings regarding possible fatal bleeding episodes connected to taking Xarelto. Neither company accepted liability and actually won all six lawsuits that went to trial.
“Even in the face of meritless allegations, and even while winning in court, complex litigation demands an enormous amount of time and resources,” the pharmaceutical division of Johnson & Johnson explained in a statement regarding the settlement.
TriMark Legal Funding provides non-recourse pre-settlement and post-settlement Xarelto lawsuit loans to injured plaintiffs nationwide.
This post originally appeared here: https://www.bizjournals.com/newyork/news/2019/03/25/johnson-johnson-and-bayer-settle-xarelto-lawsuits.html
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