Pradaxa Blood Thinner Lawsuits Settled for $650 Million
Posted on behalf of Phillips Law Group on May 29, 2014 in Defective Drug
The German pharmaceutical company which developed and marketed Pradaxa has agreed to settle almost 4,000 lawsuits over the blood thinner for a total of $650 million dollars.
Pradaxa is accused of causing over 500 deaths and more than 3,000 bleeding-related complications. The $650 million settlement should give each claimant an average of $162,500.
The plaintiffs in the Pradaxa lawsuits allege that the drugmaker was aware of problems with bleeding-related complications before the drug was submitted for FDA approval in 2010. After it passed the FDA process, patients and doctors reported 3,781 bleeding side effects and 542 deaths associated with the drug in 2011.
The FDA approved Pradaxa as a drug similar to Coumadin, or warfarin, meant for preventing strokes caused by blood clots. Because of the mechanism of these types of drugs, some risks of bleeding complications are inevitable. However, the plaintiffs alleged that Pradaxa could cause a patient to bleed to death with no way to control or stop the medication. In fact, a Pradaxa antidote was developed shortly after the drug was approved, and has earned Boehringer an additional billion dollars in sales.
The news of the settlement came shortly after evidence emerged revealing that Boehringer had concealed 22 serious bleeding complications during the FDA approval process. Additionally, the judge presiding over 2,500 of the Pradexa complaints handed down almost a million dollars worth of sanctions against the pharmaceutical company after it failed to preserve countless important records on the development and manufacturing of the drug.
These sanctions may have influenced the drug companys decision to settle. Legal observers also note that Boehringer may be attempting to avoid even greater sanctions, like those handed down to other pharmaceutical companies for destroying records. The company maintains that it has committed no wrongdoing, and is simply settling the case to avoid prolonged litigation expenses.
To read more about this story, go to:http://www.bloomberg.com/news/2014-05-28/boehringer-pays-650-million-to-end-blood-thinner-cases.html