Bayer, J&J pay $775M to settle 25,000 Xarelto lawsuits

Bayer and Johnson & Johnson on Monday agreed to pay $775 million to settle nearly 25,000 lawsuits alleging that the companies failed to adequately warn of the potential for bleeding from blockbuster blood thinner drug Xarelto.

The total amount will be shared equally between Bayer and Janssen Pharmaceuticals – a division of J&J – and neither firm admitted liability. Both companies continue to stand behind the treatment.

"Even in the face of meritless allegations, and even while winning in court, complex litigation demands an enormous amount of time and resources," Johnson & Johnson said in a statement. "As a healthcare company, we want to spend every moment we can improving lives and finding new cures."

“This favorable settlement allows the company to avoid the distraction and significant cost of continued litigation,” Bayer said in a statement.

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Bayer netted roughly $4 billion in sales from Xarelto in 2018. The German pharmaceutical conglomerate has a licensing agreement with J&J to sell the drug in the U.S.

Separately, Bayer is facing 11,200 lawsuits over weedkiller Roundup.