Bayer, Janssen Reach $775M Settlement in Xarelto Litigation (1)

Bayer AG and Johnson & Johnson unit Janssen Pharmaceuticals Inc. have agreed to pay $775 million to settle thousands of suits over their blood-thinning drug Xarelto.

Each company will pay half.

Plaintiffs alleged the drug caused uncontrollable bleeding, and said the drugmakers failed to adequately warn of that risk.

Xarelto litigation has been ongoing for more than five years. Bayer and Janssen prevailed in all six test cases that went to trial, including a Pennsylvania state-court case in which a $27 million verdict was later thrown out.

No additional test trials had been scheduled.

The settlement will resolve virtually ...