BREAKING NEWS

Bayer, J&J settle U.S. Xarelto litigation for $775 million

Bayer, J&J settle U.S. Xarelto litigation for $775 million
FILE PHOTO: Logo of Bayer AG is pictured at the annual results news conference of the German drugmaker in Leverkusen, Germany February 27, 2019. REUTERS/Wolfgang Rattay/File Photo -
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WOLFGANG RATTAY(Reuters)
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(Reuters) – Bayer AG and Johnson & Johnson have agreed to settle more than 25,000 U.S. lawsuits over their blockbuster blood thinner Xarelto for a total of $775 million (588 million pounds), court documents on Monday showed.

The amount will be shared equally between the two companies that jointly developed the drug. Bayer and J&J do not admit liability under the agreement.

(Reporting by Tina Bellon in New York; Editing by Bill Berkrot)

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