Baycol product liability litigation

Executive Summary

Bayer has received 5,700 lawsuits related to the Baycol withdrawal, "almost entirely" from the U.S., Chairman Werner Wenning says during Nov. 12 analysts meeting. "Many of the recently-filed complaints are simply copied from other complaints; for example, a single firm has filed 2,500 virtually identical complaints." Further, "where we have been able to evaluate preliminary facts obtained from plaintiffs through discovery, we have found that the majority of plaintiffs are not claiming that they were hospitalized or developed rhabdomyolysis - the side-effect that led to the withdrawal of Baycol." Bayer has settled 190 cases; more than 150 of the suits filed are class actions. Baycol (cerivastatin) was withdrawn in August 2001 (1"The Pink Sheet" Aug. 13, 2001, p. 4)...