Bayer and Johnson & Johnson (J&J) have resolved over 25,000 pending lawsuits concerning the blood thinning drug Xarelto with a $775m settlement split equally between the firms. Neither company has admitted liability for the treatment, which plaintiffs claimed caused unstoppable, and in some cases fatal, bleeding. The firms previously won six legal trials covering the same issue. The settlement resolves all outstanding US lawsuits. Last year, Xarelto generated $2.47bn in revenues for Bayer and $4bn in sales for J&J, whose Janssen Pharmaceuticals unit co-developed the treatment.
Bayer and Johnson & Johnson (J&J) have resolved over 25,000 pending lawsuits concerning the blood thinning drug Xarelto with a $775m settlement split equally between the firms. Neither company has admitted liability for the treatment, which plaintiffs claimed caused unstoppable, and in some cases fatal, bleeding. The firms previously won six legal trials covering the same issue. The settlement resolves all outstanding US lawsuits. Last year, Xarelto generated $4bn in revenues for Bayer and $2.47bn in sales for J&J, whose Janssen Pharmaceuticals unit co-developed the treatment.