Bayer AG and Johnson & Johnson’s subsidiary Janssen Pharmaceuticals recently reached a $775 million settlement over their drug Xarelto. This settlement resolves the thousands of state and federal cases pending against the companies.
Xarelto (rivaroxaban) is a blood-thinning medication that was jointly developed by Bayer AG and Janssen Pharmaceuticals. The drug is used to treat or prevent clots, strokes, and various other blood-related ailments. Since its release in 2011, Xarelto has come under scrutiny due to safety concerns. Thousands of plaintiffs claimed that the medication caused uncontrollable and irreversible bleeding. Doctors and patients also claim that they were not adequately warned about the potential risks associated with Xarelto.
The $775 million settlement will be split equally by both companies, translating to around $390 million each for Bayer AG and Janssen Pharmaceuticals. The companies state that the settlements are not an admittance of fault. Rather, they offered to settle to save costs and time for all parties involved.
Spokespeople from Janssen Pharmaceuticals released statements saying that Johnson & Johnson does not admit to liability. The statement goes on to say that current litigation conflicts with years of scientific data and the U.S. Food and Drug Administration’s repeated testing of the safety and efficacy of Xarelto.
At Laborde Earles Law Firm, our compassionate attorneys understand the frustration and difficulties that accompany pharmaceutical injuries. With our years of experience handling dangerous drug cases, we could fight tirelessly for the compensation you deserve.
If you or someone you know has used a new medication and experienced severe, life-threatening side effects or complications, an experienced pharmaceutical product liability lawyer may be able to help. Call today to schedule a consultation and discuss your legal options.