In addition to the many personal injury lawsuits against the makers of Yaz, they are now being sued by pension funds that lost money investing in Bayer.
Oct. 6 (Bloomberg) -- Bayer AG, Germany’s largest drugmaker, was sued by two Pennsylvania pension funds and accused of misrepresenting the safety and effectiveness of the Yaz contraceptive to boost sales.
Bayer unlawfully promoted the drug from March 2006 to March 2009 by concealing side effects including blood clots, heart attacks and pulmonary embolisms, two health and welfare funds for firefighters and city employees said in a federal court complaint made public today in Philadelphia.
The Yasmin family of birth control pills, known as Yaz, Yasmin and Yasminelle, were Bayer’s top-selling drugs last year, bringing in about $1.8 billion, a 17 percent increase over 2007.
About 300 cases have been filed against the company over Yaz. Roughly 200 have been filed in federal litigation consolidated in East St. Louis, Illinois. Another 50 have been consolidated in state court in Philadelphia.
Source: Bayer Sued, Accused of Hiding Yaz Risk to Boost Sales (Update2) - Bloomberg.com
