Our firm--which, through its partner Gerald Meunier as Co-Liaison Counsel, had a leadership role on behalf of plaintiffs--is pleased to announce that the makers of the popular blood-thinner Xarelto® have agreed to a $775,000,000 settlement to resolve litigation by patients who suffered bleeding injuries after taking the prescription drug.
According to the agreement announced on March 25, 2019, approximately 25,000 claims filed against Bayer Healthcare (OTC: BAYR) and Janssen Pharmaceuticals Inc., a subsidiary of Johnson & Johnson (NYSE: JNJ), now will be resolved. These claims include cases in federal and state courts.
"This is a fair resolution for thousands of consumers who have substantial claims," says Mr. Meunier. "We appreciate both the hard work of plaintiffs' counsel and the guiding role played by federal judge Eldon E. Fallon in overseeing the federal litigation here in New Orleans."
Under the settlement agreement, a Claims Administrator and two Special Masters will be retained to manage the settlement process and will be responsible for determining how funds will be allocated to those who are entitled to payment. It is expected that this process will continue throughout the remainder of 2019.