Leverkusen, Nov 11: The German pharmaceuticals giant Bayer said today that it had paid out $659 million in out-of-court settlements so far in 1,811 suits connected with its disgraced anti-cholesterol drug Lipobay. The number of out-of-court settlements has therefore risen from 1,683 in October.

The German maker of aspirin is still currently facing 11,459 lawsuits worldwide in connection with Lipobay, also marketed as Baycol, which Bayer was forced to withdraw in 2001 after it was suspected of being connected with the deaths of around 100 people.

In September, a US court ruled that plaintiffs could not club together and file class-action suits against the German pharmaceuticals giant.

The federal district court in Minneapolis, Minnesota, found in Bayer's favour and ruled that no class-action suits could be filed against the company in the Lipobay case.

Class-action suits, if successful, often lead to much bigger compensation payments than suits filed on an individual case-by-case basis.

Prior to the scandal, Bayer had seen Lipobay as one of its most promising drugs. Its withdrawal plunged the hitherto highly profitable pharmaceuticals group into financial crisis.


Bureau Report