Bayer Settles More Than 2,900 Lawsuits Over Statin Drug

Associated Press
January 26, 2005
 

German drug maker Bayer AG said Wednesday it has now settled more than
2,900 suits related to its cholesterol-lowering drug Lipobay, or Baycol,
paying more than $1.1 billion U.S. in out-of-court deals.

Bayer pulled Lipobay, marketed as Baycol in the United States, in 2001
after it was linked to a rare muscle-wasting syndrome and about 100 patient
deaths.

In a regular posting to its Web site, the Leverkusen-based company said it
has now settled 2,933 cases and agreed to pay a total of $1.113 billion
without admitting liability. Some 6,359 cases are still pending.