The Baycol / Lipobay - Scandal
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| Investors lost billions of dollars in share
value, threatening the very survival of the company. |
|
In August 2001 Bayer had to withdraw its leading new drug Baycol
because more than 50 people had already died from taking it and more
than 6 million
patients were at risk from the deadly side effects of rhabdomyolysis
(dissolving of muscle tissue).
Following is a list of public reports
highlighting the most important steps of this development:
Latest News of the Baycol Scandal:
December 10, 2003 --
Jury sides with Bayer in 2nd lawsuit tried over Baycol in Mississippi
September 19, 2003 --
Bayer Claims Vindication From U.S. Court Ruling
September 12, 2003 --
Bayer's Legal Woes in U.S. Offer Lessons for Other Drug Makers
March 13, 2003 --
Bayer Says Baycol Costs May
Exceed Its Insurance
March 13, 2003 --
Bayer's operating profit down
March 12, 2003 --
Bayer Faces U.S. Shareholder Lawsuit
March 3, 2003 --
Bayer executive's testimony
cites early doubts on Baycol
February 27, 2003 --
Baycol Plaintiff Seeks $500 Million
February 26, 2003 --
Bayer: Cannot Forecast Litigation Outcome
February 25, 2003 --
Bayer in Talks on Cholesterol Drug Cases
February 24, 2003 --
Bayer Shares Fall as Baycol Woes Mount
February 22, 2003 --
Documents Indicate Bayer Knew of Dangers of Cholesterol Drug
February 18, 2003 --
First Trial Set to Start for Bayer's Baycol
The withdrawal of the Baycol / Lipobay Drugs, a short history:
August 08, 2001 --
FDA Says Withdrawn Bayer Drug Linked to 31 Deaths
August 09, 2001 --
Baycol News Prompts EU Review of Cholesterol Drugs
August 16, 2001 --
Profiting from the Fear of Heart Attacks
August 17, 2001 --
Are Our Doctors Open to Bribes?
September 4, 2001 --
Prosecutors launch probe against Bayer executives over Lipobay drug
September 5, 2001 --
Bayer faces German probe and US lawsuit
The danger has been known for about 13 years:
Contrary to recent claims, knowledge of the devastating damage that
anti-cholesterol drugs can have on human muscle cells is nothing new
to the pharmaceutical industry. Quite the contrary: the pharmaceutical
industry has known for at least 12 years that anti-cholesterol drugs
impair the synthesis in the human body of the vital coenzyme Q10. |
