Baycol
Lawsuit
Baycol
Lawsuit News
-September
18, 2003 BREAKING
NEWS!!
Baycol class action lawsuit
denied but Bayer still faces large legal battles.
A U.S. federal court on September 17, 2003 denied certification
of a Baycol class action lawsuit that had been filed
against Bayer AG. In 2001, Baycol cholesterol drug was
pulled off the market because of deadly Baycol side
effects reported, including rhabdomyolysis, a disease
causing muscle damage, kidney failure, and other injuries.
The Baycol
recall has been linked to over 100 deaths and 1,600
injuries. The recent Baycol class action lawsuit denial
was filed in representation of over 1,000 cases. Judge
Michael Davis denied the Baycol class action lawsuit
because he ruled the cases were too diverse.
Bayer has
said that the company has so far paid $477 million to
settle out of court 1,342 Baycol cases in the U.S. There
are still 11,000 Baycol lawsuits that Bayer must still
face, in which the company refused to acknowledge legal
liability.
The
company has said its legal strategy will be to continue
analyzing specific Baycol lawsuits in order to agree
on “fair compensation” for those people
that have suffered serious Baycol side effects. For
more information on Baycol contact
us to confer with a Baycol lawyer.
-June
24, 2003 BREAKING
NEWS!!
Bayer restructures in response to Baycol woes.
Bayer announced in May 2002 that 1,200
workers worldwide would be laid off by the end of the
year after suffering losses and facing a high number
of Baycol lawsuits after the Baycol recall was announced
in 2001. Now, Bayer has cut 100 more jobs, which may
reflect the $240 million that the company announced
it paid to settle 785 Baycol lawsuits out of court in
May 2003. Still facing around 9,400 more Baycol cases,
the company is still far from being past its’
Baycol battles.
Contact us for more information
on the Baycol Recall.
-April
10, 2003
Another Baycol lawsuit settled, according to Bayer.
The Baycol lawsuit was supposed to be heard in a Texas
courtroom late April however, settled for undisclosed
reasons and an undisclosed amount.
-April
9, 2003
A Baycol class action lawsuit was announced in the U.S.
District Court for Southern District of New York. The
Baycol lawsuit has alleged that Baycol maker Bayer AG
violated sections of the Securities Exchange Act of
1934 when issuing false and misleading statements to
the marketing in order to boost sales. In addition,
the Baycol lawsuit alleges that Baycol side effects
were minimized despite the knowledge by top Bayer executives
that Baycol patients were suffering deadly Baycol side
effects. For more information on Baycol lawsuits contact
us to confer with a Baycol attorney.
-April
4, 2003
Baycol maker, Bayer AG announced that the number of
out of court settlements for its recalled drug was on
the rise. Bayer has already settled around 500 Baycol
cases out of court at $150.1 million. The company said
it would update the Baycol settlement and Baycol lawsuit
figures later in April 2003. Bayer is still facing around
8,400 Baycol cases. There have been over 100 deaths
linked to the use of Baycol, many of the Baycol deaths
attributed to a rare condition called rhabdomyolysis.
-March
5, 2003
Documents that have been presented in court at Baycol
trials showing that Baycol executives became increasingly
more alarmed about the instances of Baycol side effect
rhabdomyolysis that was occurring at a much higher rate
than competing statins. Bayer has maintained the company
acted responsibly with Baycol and had to issue the Baycol
recall because doctors were improperly prescribing the
cholesterol drug.
-March
3, 2003
A German lawyer is hoping to settle about 100 Baycol
cases out of court in Germany. Of the 2,000 German Baycol
patients the lawyer is representing, he believes that
5% of the instances involve serious Baycol side effects
damage.
-March
3, 2003
Bayer has taken out full page ads defending Baycol on
February 28, 2003 entitled “Facts not Mood-stirring”
in order to reassure worried Bayer investors. Bayer
stated it was impossible to forecast the outcome of
future Baycol lawsuits despite predictions made by attorneys
and analysts. The company has already paid a total of
$125 million to settle 450 Baycol lawsuits but faces
thousands more.
-March
2, 2003
Bayer is trying to calm the speculation talk of the
impact Baycol lawsuits will have on the company following
the statements a lawyer made saying Bayer faced damages
of up to $50 billion. Bayer released a statement claiming
the Baycol lawsuit predictions have been wildly overestimated
and were press efforts to affect Bayer stock and help
legal battles. Analysts have estimated Bayer could suffer
damages of over $5 billion to almost $10 billion if
Baycol negligence is proved.
-February
28, 2003
GlaxoSmithKline is worried as its shares have continued
to slip for the fifth day in a row. Glaxo and Bayer
jointly marketed Baycol and Glaxo has been named in
some Baycol recall lawsuits for the deaths and serious
injuries, including rhabdomyolysis that occurred while
the cholesterol drug was on the market. Most Baycol
lawsuits have only named Bayer because it was predominantly
responsible for the marketing and selling of Baycol.
Glaxo is still not sure what type of liability the company
holds in the future Baycol lawsuits.
-February
28, 2003
The high profile Baycol lawsuit in Texas has drawn in
dozens of spectators. The Baycol trial is proving to
continue being controversial. Already, allegations of
attempted jury tampering have been made. In addition,
the county district attorney is looking into matters
in response to the trial judges request after Bayer
had sent thousands of letters to city residents urging
them to keep an open mind about the company just a day
before jury selections had begun. The company’s
response to the letters was that they were a mistake,
however the trial judge found the letters to be “outlandish”.
-February
27, 2003
Lawyer for a plaintiff in Germany are seeking $500 million
in punitive damages for recalled cholesterol drug Baycol,
marketed as Libobay outside of the U.S. The Baycol lawsuit
is in addition to the already present Baycol case occurring
in Texas with demands for a $100 million payout.
-February
27, 2003
Investors are quickly dropping Bayer’s stock fearful
that the company will be forced to pay large quantities
of money to settle even more Baycol lawsuits. The investors
have been unable to determine what type of loss Bayer
will suffer when all the Baycol lawsuits have come to
a close. The 7,800 Baycol lawsuits in the U.S. that
Bayer faces, in addition to any claims that are filed
from 700,000 Baycol patients that live outside of the
U.S., Bayer may end up making payment of more than $5
billion. Bayer officials are still denying its executives
knew of the deadly and serious Baycol side effects well
before adequately responding.
-February
25, 2003
Bayer announced the company has paid a total of $125
million to settle 450 Baycol cases out of court. The
company said that it is in active discussions with plaintiff
lawyer about settling 500 more Baycol cases. Bayer’s
worry about its Baycol liabilities do not seem to be
lessening, especially following the publication of company
documents that indicate Bayer executives knew long before
the Baycol recall that the drug had deadly risks.
-February
24, 2003
Bayer shares fell almost 10% after the New York Times
reported a senior company executive was aware of the
deadly risks associated to Baycol long before a Baycol
recall was issued. Of the more than 7,800 Baycol lawsuits
filed against Bayer, around 450 of them have already
been settled out of court for amounts ranging between
$200,000 and $1.2 million. The maximum estimated cost
the Baycol recall problems for Bayer could result in
is around $1.6 billion. Court papers show that in 1997
the President of Bayer’s North American pharmaceutical
operations had received a letter from executive vice
president of pharmaceuticals at SmithKline Beecham that
he had “serious concerns” about using Baycol
with some other medicines the day after Baycol received
FDA approval.
-February
22, 2003
Internal Bayer emails and depositions indicate that
Bayer was promoting Baycol with the knowledge that it
can cause rhabdomyolysis-induced deaths. A February
2000 Bayer email included an executive noting that the
word was leaking about deaths related to Baycol and
issuing an official statement before the situation worsened.
When the vice president for scientific affairs at Bayer
was asked in a deposition if the company had delayed
any knowledge of the link between Baycol and life-threatening
instances of rhabdomyolysis, the employee responded
that no knowledge was known. Other internal Bayer documents
showed the officials were more concerned with Baycol
becoming financially successful enough to fuel company
operations and compete with other pharmaceutical companies.
-February
21, 2003
A Baycol lawsuit opened, which marked the first lawsuit
of its kind in the U.S. Alleging that Bayer officials
were aware of the deadly side effects, the Baycol lawsuit
is the first of many awaiting trial. The plaintiff suffered
rhabdomyolysis after taking samples of Baycol for less
than a month.
-January
16, 2003
Bayer announced the number of Baycol lawsuits the company
is facing has increased to 7,400, up from 5,700 in November
2002.
Baycol Links
Bayer
said Monday that its pulled Baycol anti-cholesterol
drug may be linked to 52 deaths and that two rivals
have come forward since the company said the voluntary
recall may force it to seek a partner for its drug unit.
Nearly
two weeks after a popular cholesterol-lowering drug
was pulled off the market for causing deadly muscle
destruction, a consumer group charged Monday that five
similar medications have killed an additional 81 people.
http://latimes.com/news/nationworld/politics/wire/sns-ap-cholesterol-pills0820aug20.story
May
26, 1999 -- The United States Food and Drug Administration
has approved a 0.4mg strength of Bayer Corporation,
Pharmaceutical Division's and SmithKline Beecham's Baycol
as the recommended dose for patients with primary hypercholesterolemia
(elevated cholesterol) and mixed dyslipidemia (elevated
cholesterol and high triglycerides).
http://www.docguide.com/dg.nsf/PrintPrint/
88D95E6B60A291CE8525677D004A5FD3
FAQ
type information for anyone who is taking Baycol.
http://www.healthsquare.com/newrx/BAY1048.HTM
Browse a concise description of Baycol’s mode of action, uses, contraindications,
dosage, and side effects. http://www.nursespdr.com/members/database/
ndrhtml/cerivastatinsodium.html
FDA's
mission is to promote and protect the public health
by helping safe and effective products reach the market
in a timely way, and monitoring products for continued
safety after they are in use.
http://www.fda.gov
The
Health Research Group is the health arm of Public Citizen
and promotes research-based, system-wide changes in
health care policy as well as providing advice and oversight
concerning drugs, medical devices, doctors and hospitals
and occupational health.
http://www.citizen.org
Bayer AG is a health care and chemicals group numbering some 350 individual
companies, represented in virtually every country in
the world. For more Baycol information, patients
and doctors can contact Bayer at 1-800-758-9794 or the
FDA at 1-888-INFO-FDA.
http://www.bayer.com/en/index_en.html
Baycol
Attorneys
- Referral service for persons injured through the use
of Baycol.
Personal
Injury Sites
Nursing
Home Abuse Elderly Abuse Attorneys
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