Bayer settles more than 2,900 lawsuits in connection with pulled cholesterol drug

The Associated Press reports that German drug maker Bayer AG has now settled more than 2,900 suits related to its cholesterol-lowering drug Lipobay, or Baycol, paying more than US$1.1 billion in out-of-court deals. Bayer pulled Lipobay, marketed as Baycol in the United States, in 2001 after it was linked to a rare muscle-wasting syndrome and about 100 patient deaths.

The Leverkusen-based company said it has now settled 2,933 cases and agreed to pay a total of US$1.113 billion without admitting liability. Some 6,359 cases are still pending.

In November the company said it had reached settlements in 2,895 cases and paid some US$1.1 billion in out-of-court deals.