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HOUSTON, TX, January 18, 2013 /24-7PressRelease/ -- Despite an onslaught of lawsuits pointed at two of its mainstay products (Yasmin/Yaz and the Mirena IUD) pharmaceutical and chemical giant, Bayer, handily beat all other rivals in market share, profit and overall growth in 2012. The company, based in Leverkusen, Germany, finished the year with a market value of 59.7 billion Euros ($79.6 billion USD). While fourth quarter totals won't be available until February 28, analysts are not expecting a decline.
For Yasmin and Yaz alone, Bayer has resolved claims by paying more than 2 billion Euros ($2.65 billion USD). According to Bloomberg, the first 500 Yasmin suits required a total payout of more than $110 million to users claiming to have been harmed by the drug.
Beginning in 2012, lawsuits filed by firms across the U.S. assert that many women have suffered uterine perforations by, and embedment and migration of the Mirena IUD, a popular contraceptive device that is inserted into the uterus where it is intended to remain for a period of five years. According to Bayer, the device is used by more than 2 million women.
In addition to the monetary settlement amounts, the U.S. Food and Drug Administration ordered Bayer to strengthen warnings on the products.
Even in the face of these and other lawsuits, Bayer remains strong, largely in part because of rising revenue in subsidiary companies. Bayer's CropScience division, for example, accounts for nearly 20% of posted sales and has enjoyed increases in total revenue and profit and has posted notable gains for at least two years straight.
Additionally, Bayer is casting its hopes on Xarelto, a new trial drug which, in combination with aspirin therapy, is predicted to prevent heart attacks and strokes in patients with coronary artery disease. The company is anticipating annual sales of the new drug to top 2 billion Euros (nearly $3 billion USD).
Beginning in 2012, lawsuits filed by firms across the U.S. assert that many women have suffered uterine perforations, embedment and migration by and of the Mirena IUD, a popular contraceptive device that is inserted into the uterus where it is intended to remain for a period of five years. According to Bayer, the device is used by more than 2 million women.
Pulaski & Middleman, L.L.C., a Houston-based law firm that represents women who assert claims for injuries caused by the Mirena IUD, has received many emails and phone calls from women who have required surgery after the device migrated through the uterine wall and into other parts of the abdomen or torso.
Adam Pulaski, a partner at the firm, stated, "We currently hear from more than 500 women per month, whose stories are incredibly consistent, recounting how the Mirena IUD has migrated into other parts of their body and have required surgery to retrieve the device."
Although Bayer petitioned the New Jersey Supreme Court to require that all Mirena IUD lawsuits be consolidated, their petition was denied. As a result, women who feel that they have been injured by this product may pursue individual claims against Bayer for damages.
At Pulaski & Middleman, L.L.C., our defective drugs lawyers and product recall attorneys are experienced in investigating and uncovering critical evidence when innocent victims are injured or killed by the medicines and medical devices they unknowingly trust.
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