According to court documents released on Monday, the German pharmaceutical multinational, Bayer AG, and the American pharmaceutical major, Johnson & Johnson, have finally agreed to settle more than 25,000 U.S. lawsuits over their best-selling blood thinner Xarelto, for a total of $775 million.
Although Bayer and J&J are yet to admit liability under the agreement, the settlement resolves all the pending U.S. lawsuits over Xarelto. The fines would be equally split by both companies, as they jointly developed the drug. Plaintiffs accused the companies of failing to sufficiently notify patients on the risk of uncontrolled bleeding.
Bayer had jointly developed Xarelto with J&J’s Janssen Pharmaceuticals unit, which sells the blood clot preventer under a licensing agreement in the United States.
Xarelto emerged as Bayer’s best-selling drug in 2018 and contributed 3.6 billion euros ($4.07 billion) in revenue to the German group’s pharmaceutical business. J&J reported that Xarelto’s total sales in 2018 amounted to $2.47 billion.