- October 1, 2015
- Posted by: admin
- Category: News
In a very recent reporting from Fair Rate Funding, a lawsuit funding firm located in Manasquan, New Jersey, there has been a growing number of lawsuits concerning Xarelto. Xarelto is a blood-thinning drug or anticoagulant. Fair Rate Funding specializes in advancing cash to plaintiffs who are involved in personal injury lawsuits including Xarelto lawsuits. Speaking over the concern Fair Rate Funding's President, Paul Coppola said that –
"We are talking about families who may have seen a primary earner die because of this faulty drug. We are talking about people who will have serious issues getting back on their feet. Xarelto lawsuit funding is one available financial option for these plaintiffs."
The lawsuits are being brought against Janssen Pharmaceutical Division, a subsidiary of Bayer and Johnson & Johnson's, which markets the blood thinner. The allegations bring claims of severe health issues, to the extent of being fatal by the drug’s use.
Xarelto was approved in July 2011 by the U.S. Food and Drug Administration (FDA) and since then has recorded a steady growth in its sale. Johnson & Johnson and its subsidiary Janssen Pharmaceuticals manufacture Xarelto in the United States, while Bayer AG markets the drug in Europe. There have been several cases filed against Bayer and Johnson & Johnson in multiple districts across the nation. As per the reports released by Fair Rate Funding, Philadelphia Court of Common Pleas received approximately 300 filings related to Xarelto claims, while the US District Court for the Eastern District of Louisiana received nearly 400 cases as multi district litigation (MDL). Few other sources indicate 1,200 Xarelto product liability lawsuits that have already been filed across the nation.
One of the said product liability complaints accused Janssen Pharmaceuticals on grounds of failure to warn doctors and their patients about the potential side effects of Xarelto, which may have caused significant bleeding. It left professionals in hospital emergency rooms without an effective antidote to reverse the anticoagulant’s effects. In Re: Xarelto Products Liability Litigation, MDL No. 2592 (2015).
On the whole, these complaints contend that despite successful sale of the drug, it placed patients at risk of severe bleeds and even death.