Product News and Recalls

Bayer official: Operating cost cuts to put more drugs on market

An official with German pharmaceutical giant Bayer said during a conference call recently that the company intends to put substantial resources into getting new drugs out on the market.

During a recent conference call with J.P. Morgan Global, Jörg Reinhardt, the CEO of Bayer’s Healthcare Division, said a productivity and efficiency effort at the corporation is expected to produce an estimated $430 million in annual savings, “significant parts” of which will go toward development and launches of products.

“…We could already this year improve our pharma margins significantly,” Reinhardt said.

Bayer’s alleged haste in getting products on the market has led to more than 10,000 lawsuits, and the company said in a recent internal communication that it expects still more.

Plaintiffs, backed up by a number of studies, claim Bayer failed to adequately warn them that its birth control pills bring an increased risk of potentially fatal blood clots, strokes and pulmonary embolisms. Of concern are birth control pills containing the synthetic hormone drospirenone, including Yaz, Yasmin, Beyaz and Ocella.

The most common serious injuries from these drugs are blood clots, pulmonary embolisms, strokes, or gallbladder removals. If you believe you have suffered an injury from taking Yaz, Yasmin, or Ocella, contact Lopez McHugh for a free consultation.

See the report here: http://www.thestreet.com/story/11451500/1/bayer-ags-ceo-presents-at-jpmorgan-global-healthcare-conference-transcript.html