775 million U.S. dollars: Bayer reaches settlement to resolve Xarelto™ litigation
Leverkusen, March 25, 2019 – More than five years after the Xarelto™ litigation began, and with Bayer and Janssen Pharmaceuticals prevailing in all six cases that went to trial, the companies have reached an agreement in principle to settle in the amount of 775 million U.S. dollars.
The settlement amount will be shared equally between the two companies. It is expected that Bayer’s share will be partially offset by product liability insurance.
The settlement will resolve virtually all of the approximately 25,000 Xarelto™ claims in the US. The companies have reserved the right to withdraw from the settlement if certain participation rates of those who are eligible to participate are not satisfied.
The settlement amount will be shared equally between the two companies. It is expected that Bayer’s share will be partially offset by product liability insurance.
The settlement will resolve virtually all of the approximately 25,000 Xarelto™ claims in the US. The companies have reserved the right to withdraw from the settlement if certain participation rates of those who are eligible to participate are not satisfied.
Bayer continues to believe these claims are without merit and there is no admission of liability under the agreement. However, this favorable settlement allows the company to avoid the distraction and significant cost of continued litigation.
The safety profile of Xarelto™ remains positive and unchanged as confirmed time and again by regulatory agencies worldwide. We remain committed to the more than 45 million patients who have been prescribed Xarelto™ worldwide and focused on developing new therapies that improve the lives and well-being of patients.About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2018, the Group employed around 117,000 people and had sales of 39.6 billion euros. Capital expenditures amounted to 2.6 billion euros, R&D expenses to 5.2 billion euros. For more information, go to www.bayer.com.
Monday - March 25, 2019
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