Bayer AG pays out an average of $212,000 per Yaz and Yasmin case
In a stockholders’ newsletter in July, Bayer said that it’s resolved almost 1,900 cases in which it’s alleged that its Yasmin and Yaz contraceptives caused clots that can lead to heart attacks and strokes.
Bayer AG, based in Leverkusen, Germany put aside a total of $246 million U.S. dollars in 2010 and 2011, according to securities filings, and has now more than doubled it’s reserve for Yaz and Yasmin cases to $610.5 million U.S. dollars.
Bloomberg Report - In an emailed statement, Bayer officials said “We believe we have made appropriate provisions for most of the cases we consider to be worthy of settlement with these accounting measures.”
It is said that Bayer may have to pay more than 2.5 Billion U.S. dollars to resolve all the cases over Yaz and Yasmin.
If you believe that you or a loved one has suffered injury or death due to a defective or dangerous pharmaceutical, you may have a right to compensation for your injuries. The Yaz and Yasmin Lawyers at The Maher Law Firm would like to help. We invite you to contact our trial-tested dangerous drug attorneys today.
The first Yaz trial, which involves a plaintiff who suffered a pulmonary embolism after taking the drospirenone-containing birth control pill, was set to begin on January 9th. However, the federal judge overseeing thousands of Yaz, Yasmin and Ocella venous thromboembolism lawsuits, instead ordered that all involved parties meet with a special mediator in order to negotiate a settlement for the litigation.
Judge Herndon’s December 31st order has delayed the start of a trial that was likely going to help both the prosecution and the defense gauge how juries would react and respond to the evidence presented in many of the cases. Stephen Saltzburg, a professor at the George Washington School of Law, was the Special Master appointed to mediated the entire litigation.
To date, more than 10,500 women have filed product liability lawsuits against Bayer AG, alleging that they suffered injuries as a result of Bayer’s failure to properly warn users of the potentially dangerous side effects of Yasmin, Yaz and other drospirenone-containing birth control pills.
According to a recent report by the U.S. Food and Drug Administration, birth control pills that contain drospirenone, a new kind of synthetic progestin, may increase the risk for blood clots by as much as 75 percent over older-generation birth control pills.