Boehringer Ingelheim Agrees to Pay $650M to Settle Pradaxa Lawsuits

Alexander Popovich | June 9th, 2014

pradaxa settlement fundingEarlier this week, Boehringer Ingelheim – the German-based manufacturer of the blood thinner Pradaxa – agreed to pay $650 million to resolve litigation arising from Pradaxa-related bleeding incidents. The settlement will resolve an estimated 4,000 personal injury lawsuits pending against the company in Re: Pradaxa (Dabigatran Etexilate) Products Liability Litigation, MDL No. 2385 as well as in several state courts.

An anticoagulant medication approved by the FDA in 2010 to reduce the risk of strokes in patients with non-valvular atrial fibrillation, Pradaxa has been the subject of increasing litigation throughout the country. Touted as a superior and more convenient alternative to Warfarin, the blood thinner has been linked to more than 500 deaths in the U.S. and the subject of thousands of adverse event reports involving uncontrolled bleeding. Since the launch of Pradaxa, Boehringer Ingelheim has reaped huge financial rewards, with sales exceeding $1 billion in 2012 alone.

The main disadvantage of Pradaxa is its lack of an antidote to reverse its blood thinning effects. Plaintiffs argue that Boehringer failed to adequately warn consumers and their prescribing doctors of bleeding risks, especially given that once hemorrhaging begins, there is no available agent to stop it.

“This settlement allows BI to avoid the distraction and uncertainty of lengthy litigation and focus on our mission of improving patients’ lives,” Boehringer Ingelheim attorneys said in a statement.

The potential need for Pradaxa settlement funding

While the news of the $650 million settlement, negotiated by plaintiffs’ legal counsel, is hopeful for those with pending claims, it is uncertain when these funds will ultimately be dispersed. For many who’ve turned to the courts for legal compensation, a combination of medical expenses, lost wages and diminished earnings have taken their toll, placing some claimants on the edge of bankruptcy.

And as with any type of protracted products liability litigation, settlement negotiations and disbursement can take much longer than anticipated, putting further strain on plaintiffs who desperately need money to pay growing hospital bills, make car payments, or put food on the table.

LawStreet Capital provides low-interest cash advances to Pradaxa plaintiffs who are awaiting their settlement payout. If your case was one of the thousands included in the accord, you may benefit from Pradaxa  settlement funding.  Our settlement loans are 100 percent risk free, as we base the cash advance amount on your projected recovery. If for some reason, you don’t collect compensation on your claim, you owe us nothing. It’s just that simple.

Average per-case payout of $162,500

Bloomberg News reports that District Judge David Herndon ordered Boehringer Ingelheim to pay $931,000 in sanctions for failing to protect “countless” documents relating to the development and promotion of Pradaxa. The drug maker was slated to defend its blockbuster medication in bellwether trials this coming September, but opted to settle before trials began to avoid lengthy and potentially costly litigation.

Under the Pradaxa settlement, each plaintiff would receive approximately $162,500 in monetary damages. Though settlement funding may not be for everyone, it has proven especially useful for those who need an immediate influx of cash, and can’t wait for their settlement check.

If you are considering a settlement loan for your Pradaxa case and need more reasons to partner with Lawstreet Capital, we can give you several. As one of the nation’s most trusted providers of pre and post settlement loans, we can offer:

  • Highly competitive interest rates
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Pradaxa settlement loan application is free

For more information about LawStreet Capital’s legal funding services, we invite you to call our toll-free number and speak with one of our customer service representatives. Once approved for your Pradaxa settlement loan, the money can be transferred into your account or sent via overnight courier.

Call us today to get the process started at 888 567 4436.