Kids?
From: Keith Addison <[EMAIL PROTECTED]>
Reply-To: biofuel@sustainablelists.org
To: biofuel@sustainablelists.org
Subject: [Biofuel] Bayer Owns Up to Poison Pill
Date: Thu, 1 Feb 2007 02:53:03 +0900
Hm, so it's okay to kill kids just as long as you're prepared to
cough up 0.02% of your income.
Who gets the money anyway?
Bayer's another prime candidate for the corporate death penalty, IMHO.
Best
Keith
------
http://www.prwatch.org/node/5676
Center for Media and Democracy
Spin of the Day ยป Jan 25, 2007
Bayer Owns Up to Poison Pill
Source: Houston Business Journal, January 19, 2007
Bayer, a global drug and biotechnology company with a turnover of
$US35.5 billion in 2005, has agreed to pay $8 million to settle a
legal action by 30 U.S. states over its failure to disclose
potentially serious consequences of using Baycol, a
cholesterol-lowering drug. Baycol was withdrawn from the market in
August 2001 due to its "sometimes fatal" side effects. Under the
terms of the settlement, Bayer agreed that it failed to adequately
warn doctors and patients of the results of clinical studies that
demonstrated serious consequences from using the drug. The settlement
also requires Bayer to post the results of all future clinical
studies on the Internet at the time of the completion.
http://houston.bizjournals.com/houston/stories/2007/01/22/daily29.html
Houston Business Journal:
Bayer reaches settlement over drug disclosure
Houston Business Journal - January 23, 2007
Bayer Corp. will pay $8 million to 30 states, including $200,000 to
Texas, as part of a settlement requiring the company to fully
disclose when drugs pose risks for patients with specific health
conditions.
According to the settlement, Bayer (NYSE: BAY) failed to adequately
warn physicians, pharmacies and patients of clinical studies
revealing serious consequences of taking Baycol, a
cholesterol-lowering drug. The company pulled the drug from the
market in August 2001 due to its muscle-weakening side effects.
The terms also extend to the disclosure of clinical studies involving
other Bayer drugs with possibly harmful side effects.
"Texans deserve to be fully informed about the adverse effects of
their medications," said Texas Attorney General Greg Abbott. "This
agreement ensures that patients have access to the information they
need to make educated health care decisions."
The terms of the judgment require that Bayer (NYSE: BAY) register its
clinical studies and, upon the completion of each study, post the
results on the Internet. The marketing, sale and promotion of Bayer's
pharmaceutical and biological products must comply with the law and
cannot include false or misleading claims.
In 1997, the U.S. Food and Drug Administration approved Baycol, a
"statin" cholesterol-lowering prescription drug, which Bayer began
marketing in May 1998. While patients who take statin drugs
frequently experience muscle-weakening side effects, Bayer failed to
disclose that its product posed significantly greater risks than did
statins produced by other drug companies.
Because of Bayer's failure to disclose risks exacerbated by its
product, patients who were prescribed Baycol were not informed of its
potential side effects. Concealing risks in the name of profit
violates the Texas Deceptive Trade Practices Act.
Bayer Corp. USA is a subsidiary of Bayer AG, part of the Bayer Group
of companies based in Germany. The company has facilities across the
U.S., including Channelview and Baytown.
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