Bayer in Dire Financial Staits Over Baycol
August 29, 2001
Bayer withdrew its popular cholesterol-lowering medication Baycol from American shelves in early August. The drug maker based the decision on reports that Baycol caused severe muscle deterioration, a condition known as rhabdomyolysis, which can lead to kidney failure and death. Baycol is a member of the drug class known as statins. Other popular statins include Pravachol, Lescol, Lipitor, Zocor, and Mevacor. Immediately before the withdrawal, approximately 700,000 Americans were taking Baycol.
Over 50 deaths have been associated with Baycol. Of these, 12 victims were taking another cholesterol-lowering drug, Gemfibrozil, concurrently with Baycol.
Bayer Pharmaceuticals is now facing serious financial problems. Baycol was the company's greatest hope for sales growth over the next several years. Baycol was expected to generate the majority of the company's projected $1 billion in earnings for 2001.
-- Article Courtesy of InjuryBoard.com
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