The global pharmaceutical giant Johnson & Johnson has revealed its plans to seek regulatory approval for 10 new drugs by 2019, Bloomberg reports. The company is expecting potential annual sales of $1 billion for each new drug. These blockbuster products would provide a much-needed revenue boost for Johnson & Johnson’s drug division, Janssen Pharmaceutical, which is embroiled not only in fierce competition, but numerous drug and device lawsuits as well.
Among Johnson & Johnson’s newest legal concerns is the increasing number of Xarelto lawsuits. The U.S. Food and Drug Administration approved Xarelto in 2011 for use as an anticoagulant, or blood-thinning drug. It is intended to prevent blood clotting in patients undergoing certain procedures or with irregular heartbeats. But according to plaintiffs in Xarelto lawsuits, the drug can cause severe or fatal bleeding.
Xarelto lawsuits allege that the anticoagulant was not adequately tested before it was introduced to the market, and that certain side effects caused by Xarelto were downplayed or altogether hidden to secure company profits. Plaintiffs in Xarelto lawsuits further claim that Bayer and Johnson & Johnson overstated the efficacy and safety of the drug, pointing out that no remedy is available in the event of hemorrhagic complications caused by Xarelto.
Earlier this year, a panel of Federal judges consolidated over 100 Xarelto lawsuits in a multidistrict litigation, over opposition from Bayer and Johnson & Johnson. Xarelto lawsuits are still being filed, with new cases being added to the multidistrict litigation as recently as last month.
Consult your doctor or physician before stopping or switching medications. If you or a loved one suffered from severe bleeding after taking Xarelto, you should contact the Xarelto lawyers at Lopez McHugh for a free legal consultation. We can help you determine whether a Xarelto lawsuit is right for you.