Bayer AG, maker of Yasmin birth control pills, has paid more than $402 million to settle nearly 1,900 lawsuits in the U.S., the company told stockholders. Bayer also reported that it has doubled its reserve to $610.5 million to settle future cases.
The settled lawsuits were filed over claims that Yasmin and Yaz contraceptives caused clots that could lead to heart attacks and strokes. The U.S. Food and Drug Administration ordered Bayer and other contraceptive manufacturers in April to update labels to warn consumers that the synthetic hormone drospirenone may triple the risk of blood clots.
More than 12,000 lawsuits were filed against Bayer because of Yasmin, Bloomberg News reported. The company has agreed to settle 1,877 cases that claim the drug caused clots in women's veins. One attorney involved in the lawsuits told Bloomberg that Bayer is refusing to settle other lawsuits that allege more serious injuries because the clots formed in the arteries.