“Bayer to pay $15 million to settle aspirin marketing suit”
According to a Bloomberg report by Christie Smythe; Bayer AG (BAYN) unit will pay $15 million to settle a U.S. lawsuit claiming it illegally marketed aspirin mixed with supplements.
Consumers sued Bayer Healthcare in 2008 over its Bayer Women’s Low Dose Aspirin + Calcium and Bayer Aspirin with Heart Advantage, containing the supplement phytosterols.
Bayer was warned by the FDA that it considered the aspirin mixtures “unapproved new drugs” meaning that the sale of Bayer Women’s Low Dose Aspirin + Calcium and Bayer Aspirin with Heart Advantage was unlawful. The Food and Drug Administration does not typically require over-the-counter drugs seek FDA approval, although, they must conform to pre-approved formulas.
All U.S. consumers whom purchased the drugs within a predetermined time-frame, would be included in the settlement. Final approval by the court is required for the deal.
