Bayer AG has announced that settlements of U.S. Yasmin/Yaz cases have risen to $402.6 million. The settlement involves nearly 1,900 cases involving the dangerous drug, for an average settlement of $212,000 per victim.
In addition, Bayer increased its settlement reserve for Yaz cases, setting aside $610.5 million. The new settlement reserve is more than double the reserve set in 2010 and 2011.
A Bayer representative stated: “We believe we have made appropriate provisions for most of the cases we consider to be worthy of settlement with these accounting measures.”
The 1,877 cases that Bayer has agreed to settle involve blood clots in veins amongst women who used the contraceptive. According to Carl Tobias of the University of Richmond, “[t]his indicates they are making progress putting these Yaz suits over the vein clots behind them.”
Bayer has refused to settle any cases in which women developed clots in arteries and has also rejected claims of gallbladder injury arising from the dangerous drug.
Bayer’s contraceptives were the company’s third best selling pharmaceutical, with sales totaling $1.1 billion in 2011.
For more information, contact the Ohio Yaz attorneys at Clark, Perdue & List.
Source: Bloomberg Reports, “Bayer’s Yasmin Lawsuit Settlements Rise to $402.6 Million,” Jef Feeley and Naomi Kresge, July 31, 2012.
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