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$1.5 billion reserve to cover Yasmin and Yaz lawsuits, causes loss in earnings

Posted on March 13th, 2013 No Comments

Drug giant Bayer said on its annual report at the end of February that the company experienced a drop in earnings after it placed $1.5 billion in a fund in 2012 to cover expenses related to lawsuits for the infamous contraceptive drugs Yasmin and Yaz.

Around 4,800 plaintiffs in the U.S. have claimed these contraceptives caused heart attacks, strokes, and even death due to blood clots. Bayer reportedly agreed to settle claims in the U.S. only, according to its annual report.

Bayer will also be facing investigation by the U.S. Attorney for the Eastern District of New York based on the investigation that off-label promotion of Yasmin or Yaz occurred.

A Bayer spokeswoman declined to entertain questions beyond the report.

Many women have sustained serious health problems or been killed as a result of using either Yasmin or Yaz. If you are one of these women or the family of a woman who has been affected, speak with an attorney from Williams Kherkher about obtaining financial compensation for your suffering. Call 800-761-3187 to discuss your case.

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