Breaking News: Parties Reach $300M Settlement in Benicar MDL
Breaking News: Parties Reach $300M Settlement in Benicar MDL
Almost two and a half years after the Judicial Panel on Multidistrict Litigation (JPML) created the Benicar MDL, the parties reached a $300M settlement. At issue was whether the manufacturers, Daiichi Sankyo and Forest Laboratories, knew or should have known and failed to warn consumers that Benicar, a popular high blood pressure medication, may cause severe gastro-intestinal problems, such as diarrhea (up to 10 or 20 incidents per day for some plaintiffs), extreme weight loss of up to 75 – 100 pounds, malnutrition, and sprue-like enteropathy.The settlement was entered into voluntarily by both parties and the court was advised this morning. As is the case with most settlements, “Daiichi Sankyo, Forest, and all other Released Persons deny any liability or wrongdoing.” In other words, no one is taking responsibility for the injuries, but the parties agree that it’s in everyone’s best interests to put the litigation to rest. This involves establishing a private settlement program designed to distribute the $300M among those who enroll in the program.
Benicar package; image courtesy of www.rxresource.org.
Sources:
Olmesartan Product Litigation Settlement
Olmesartan Master Settlement Agreement
About Jay W. Belle Isle
Before becoming LegalReader's Editor-in-Chief, Jay W. Belle Isle worked as a freelance copywriter with clients on four continents. Jay has a degree in Business Administration from Cleary University and a Juris Doctor from Thomas M. Cooley Law School. Jay has also worked as a contracts administrator for a DOD contractor specializing in vehicle armor.