Bayer is expecting a 30% jump in sales of Xarelto this year, even though it faces a growing number of product liability lawsuits involving the anticoagulant. According to the company’s most recent financial release, the medication racked up more than $1 billion in sales during the first quarter of 2015.
“Xarelto expanded its leading position among the new oral anticoagulants, particularly in Europe,” the company’s first quarter financial report states. “Business with Xarelto also developed very positively in the United States, where it is marketed by a subsidiary of Johnson & Johnson.”
Bayer also acknowledged that it had been named a defendant in at least 500 Xarelto lawsuits that have been filed in U.S. courts on behalf of individuals who allegedly suffered serious episodes of internal bleeding and other complications due to its use, along with at least five similar class actions in Canada. Additional filings are anticipated, according to the company.
Bayer introduced Xarelto to the U.S. market in 2011, promising that it would be easier to use than warfarin, a blood thinner that has been in use for decades. But over the past year, more and more patients have come forward to file Xarelto lawsuits that question the veracity of these claims. Among other things, they point out that there currently exists no approved antidote to reverse Xarelto bleeding. While all anticoagulants pose a risk of internal hemorrhaging, bleeding associated with warfarin can be stopped via the administration of vitamin K.
The majority of U.S. Xarelto cases have been filed in a multidistrict litigation that is currently underway in the U.S. District Court, Eastern District of Louisiana. Just over 220 similar claims are pending in a mass tort program that was established earlier this year in Pennsylvania’s Philadelphia Court of Common Pleas. All of the complaints similarly allege that Xarelto was wrongly marketed as a superior alternative to warfarin and places patients at risk for uncontrollable internal bleeding, as well as related complications such as strokes and blood clots.
Xarelto patients may be entitled to compensation if they experienced internal bleeding or related injuries while using the medication. If you would like to discuss filing a Xarelto lawsuit with an experienced attorney, please contact Bernstein Liebhard LLP today by calling.