Bayer to Settle U.S. Essure Claims for Around $1.6 Billion
August 20 2020 - 2:03PM
Dow Jones News
By Kim Richters
Bayer AG said Thursday it has agreed to resolve the legal claims
in the U.S. related to its Essure birth control device, paying
around $1.6 billion.
The German pharmaceutical and chemical company said it had so
far reached agreements with plaintiff law firms for around 90% of
the almost 39,000 filed and unfiled U.S. Essure claims, which
involve women who allege device-related injuries.
Bayer said it had provisioned for the settlement, which includes
"an allowance for outstanding claims," and that it "is in
resolution discussions with counsel for the remaining
plaintiffs."
The settlement doesn't have any effect on pending litigation in
other countries and there "is no admission of wrongdoing or
liability by Bayer in the settlement agreements," the company
said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
August 20, 2020 13:48 ET (17:48 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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