A Philadelphia jury crushed Bayer and Johnson and Johnson earlier this month with a $27.8 million verdict. The jury awarded $1.8 million in compensatory damages and $26 million in punitive damages.
The punitive damage award is key because Bayer had to be thinking they could win these cases after winning three in a row in federal court. This resounding victory changes the game.
While $28 million is chump change to these companies. But these cases could be worth billions. This gets the attention of corporate. The value the Xarelto is a big question mark on their balance sheets right now. Moreover, the fear of loss of revenue from these drugs. Meaningful settlement talks a global class action settlement may not be far away.