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Yaz Yasmin Settlements Could Reach Over $1.2 billion

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In a recent stockholder update, Bayer wrote that 12,325 Yaz and Yasmin lawsuits are currently pending against the company, and that it could pay over $1.2 billion in settlements.

The company said that it is only working to settle the 6,000 remaining blood clot injury lawsuits, and estimates the cost of those settlements to reach $1.2 billion. “On the assumption that the number of lawsuits will continue to decline and that we will be able to settle future claims of this kind for amounts similar on average to those agreed to date and based on the information currently available, we believe that we have made appropriate provisions for most of the cases we consider to be worthy of settlement with these accounting measures and the now exhausted insurance coverage,” the stockholder update said.

Bayer did not give an indication regarding how it plans to handle the 6,000 lawsuits alleging injuries other than those caused by blood clots. The company also wrote that it had already resolved over 1,800 lawsuits for about $400 million, though it has not admitted any liability in those cases.

Federally filed Yaz and Yasmin lawsuits are consolidated to the Southern District of Illinois in multidistrict litigation.

 

 

breakinglawsuitnews.com disclaimer: This article: Yaz Yasmin Settlements Could Reach Over $1.2 billion was posted on Thursday, August 9th, 2012 at 7:26 pm at breakinglawsuitnews.com and is filed under Defective Drug Lawsuits.

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