Product Liability Lawsuit Settlements Hit $142 Million for Defendant Bayer
German pharmaceutical giant,
Bayer
, has paid out settlement monies totaling over $142 million for product liability cases involving its contraceptives Yasmin and Yaz. A total of 651 cases have been resolved as of last month, for an average of about $218,000 per case.
The chemical make-up of the pills and the wide-spread popularity may prove to be Bayer’s biggest areas for concern. The FDA reported that Yasmin was the fourth most popular oral contraceptive last year with over 835,000 women taking the drug. The pill contains drospirenone–a synthetic hormone–which creates a risk of blood clotting.
Plaintiffs’ attorneys
argue that the pill’s package does not adequately notify consumers of the risks involved. Researchers believe that the synthetic hormone may triple the risk for blood clots, leading to heart attacks and strokes. The FDA reported 50 deaths associated with the drug from 2004 through 2008.
As of April 2012,
Bayer has faced over 11,900 lawsuits
with plaintiffs alleging injuries from Yasmin and Yaz. The defendant’s current strategy is to only settle cases involving contraceptive consumers with deep vein thromboses and pulmonary emboli. Other plaintiffs allege gallbladder damage and gallstones as side effects from taking the contraceptives. However, due to the lack of scientific research in support of these claims and the lack of legal resources by the defendant, Bayer is currently choosing to reject the gallbladder damage claims.
JP Morgan analysts have estimated that the product liability settlements from Yasmin and Yaz may cost Bayer over $2 billion. A recent newsletter from Bayer suggests that the claims may exceed the company’s product liability insurance coverage.
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