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Bayer
AG Pharmaceuticals
In 1863, eighteen years after opening his first company with Johann
Friedrich Weskott, Friedrich Bayer established Bayer Pharmaceuticals
and began a legacy of pioneering drug developments. Bayer AG, the
manufacturer of Baycol, is one of the world's
leading chemical companies.
Baycol's
impact on Bayer
Bayer's pharmaceutical history is impressive, but in recent years
the company has fallen behind. Several very promising drugs that
Bayer had scheduled to release into the market have been postponed
or cancelled. Baycol's recall has been especially disappointing
to Bayer's investors because of the potential revenue that has been
lost. Bayer expected sales of Baycol to reach $800 million this
year. As a result Bayer was forced to lower its estimated revenue
by over $570 million.
Baycol
lawsuits
Lawyers began filing suit on behalf of victims suffering from Baycol
side effects almost immediately after the withdrawal. The lawyers
claim that Bayer knew Baycol caused severe Rhabdomyolysis
and acted negligently in delaying the withdrawal of Baycol from
the market.
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