Bayer pays $1.143 billion to settle Baycol cases

Bayer has said it has paid $1.143 billion (?656 million) to settle 3,058 cases around the world pertaining to its Baycol product, according to AFX.

The drug, used to prevent heart disease and lower cholesterol, was taken off the market in 2001 amid concerns about serious side effects. The company said it paid an average of $373,333 (?214,214) to settle each case.

But despite the announcement, Bayer says that there are still 6,055 cases seeking compensation – an increase on the 5,986 announced in June. The firm had settled an extra 41 cases since their last announcement on June 30th.

It added that whilst it believes that there are fewer than 50 cases in the US that “hold a potential for settlement” there is still the possibility of cases arising to side affects caused by Baycol or Lipobay that “may come to our attention”.

Baycol was voluntarily removed from the market by Bayer in 2001, after discovering that it caused possibly fatal rhabdomyolysis in some patients. The condition causes muscle cells to be released into the bloodstream, with the possibility of resulting in kidney or general organ damage.

Post-market research had discovered that 52 patients had died from the condition after taking a course of the drug.

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