$650 MILLION SETTLEMENT BY THE DRUG MAKERS OF PRADAXA New York, New York, May 28, 2014- Douglas and London is proud to announce a $650 million settlement on behalf of approximately 3,900 claimants who were injured by the drug Pradaxa. Pradaxa, an anticoagulant prescribed to lower stroke risk among those suffering from a heart condition known as atrial fibrillation, was approved for use in the United States by the FDA in October 2010. Pradaxa, made by Boehringer Ingelheim Pharmaceuticals, Inc., is alleged to cause severe bleeding events and/or hemorrhaging to those who were taking the drug. Firm partner, Michael A. London, was appointed as co-lead counsel by the federal court judge to oversee this litigation from its inception and has played an integral role as one of the lead negotiators in this settlement. Similarly firm partner, Gary J. Douglas was slated as lead trial counsel in the first trial in the country which was set to start in early September, 2014. Mr. London who is co-lead counsel of the 27-lawyer Plaintiffs’ Steering Committee said, “We are pleased with the result of this $650 million settlement for our clients. This settlement allows compensation to the nearly 4,000 innocent patients and their families who were seriously injured with bleeding events or bled to death as a result of taking Pradaxa. Facing the American system of justice, this privately held German company did the right thing by settling these cases, and for that we praise them and this result.” In August 2012, Pradaxa claims filed in the federal court were consolidated in a multi-district litigation in the Southern District of Illinois before Chief Judge David R. Herndon.
Posted on: Wed, 28 May 2014 20:29:56 +0000