Bayer May Pay $1.2 Billion to Settle Yaz, Yasmin Injury Lawsuits
August 8, 2012 By
Overview: The Yaz, Yasmin
litigation moves forward as Bayer pays millions to settle lawsuits
alleging the oral contraceptives caused blood clots. So far, the company
has paid over $400 million in Yaz and Yasmin settlements; if these
suits are any indication of future outcomes, settlements could end up
costing an estimated $1.2 billion.
Manufacturer: Bayer AG
Side Effects & Complications
Yaz Settlements Pile Up
Bayer said that it doubled its reserve funds for Yaz cases, setting aside $610.5 million. The company has already settled 1,877 Yaz, Yasmin lawsuits for $402.6, according to a report in Bloomberg Businessweek. At an average of $212,000 per claim, Bayer estimates it will spend $1.2 billion to settle the cases.
Even with the recent settlements, there are still over 12,000 lawsuits claiming that Yaz or Yasmin caused injuries. Bayer is currently only choosing to settle suits over venous blood clots, which account for roughly half of the pending suits. The company has refused to settle cases claiming that the pills caused arterial clots or gallbladder damage.
Company officials told Bloomberg that “We believe we have made appropriate provisions for most of the cases we consider to be worthy of settlement with these accounting measures.”
Background
Yaz and Yasmin are oral contraceptives that contain drospirenone, a synthetic version of the female hormone progesterone. In April, the U.S. Food and Drug Administration (FDA) updated the label on Yaz, Yasmin and other birth control pills containing drospirenone to warn about the increased risk of blood clots. According to the agency’s Drug Safety Communication, the risk of developing a blood clot may be three times as high in women taking drospirenone-based oral contraceptives.
- Bayer has settled nearly 1,900 Yaz, Yasmin lawsuits for $402.6 million; the company may end up paying a total of $1.2 billion to settle the suits
- Bayer has doubled its reserves for Yaz cases to $610.5 million
- There are thousands of lawsuits claiming the Yaz, Yasmin caused blood clots
Manufacturer: Bayer AG
Side Effects & Complications
- Blood Clots
- Pulmonary Embolism (PE)
- Deep Vein Thrombosis (DVT)
- Gallbladder Damage
- Heart Attacks
- Stroke
Yaz Settlements Pile Up
Bayer said that it doubled its reserve funds for Yaz cases, setting aside $610.5 million. The company has already settled 1,877 Yaz, Yasmin lawsuits for $402.6, according to a report in Bloomberg Businessweek. At an average of $212,000 per claim, Bayer estimates it will spend $1.2 billion to settle the cases.
Even with the recent settlements, there are still over 12,000 lawsuits claiming that Yaz or Yasmin caused injuries. Bayer is currently only choosing to settle suits over venous blood clots, which account for roughly half of the pending suits. The company has refused to settle cases claiming that the pills caused arterial clots or gallbladder damage.
Company officials told Bloomberg that “We believe we have made appropriate provisions for most of the cases we consider to be worthy of settlement with these accounting measures.”
Background
Yaz and Yasmin are oral contraceptives that contain drospirenone, a synthetic version of the female hormone progesterone. In April, the U.S. Food and Drug Administration (FDA) updated the label on Yaz, Yasmin and other birth control pills containing drospirenone to warn about the increased risk of blood clots. According to the agency’s Drug Safety Communication, the risk of developing a blood clot may be three times as high in women taking drospirenone-based oral contraceptives.
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