Boehringer Cuts Costs of Drug Pending Pradaxa Lawsuit Litigation; Sees Increase in 2013 Operating Income
A German drugmaker has seen an increase in its 2013 operating income since cutting costs associated with a blood thinner tied to serious internal bleeding injuries alleged in Pradaxa lawsuit filings, according to Reuters.com.
Boehringer-Ingelheim reported last week that its earnings rose 14 percent last year since eliminating certain expenses of Pradaxa; the sales of which weighed in at $1.66 billion. According to the April 15th filing, the company said this translated to an 8.8 percent improvement overall and 2.1 billion euros, and that sales declined because of poor currency between the U.S. dollar and Japanese yen. Boehringer predicts that operating income for 2014 will rise only slightly, and that there will be no major growth in the pharmaceutical industry over the next few years, according to Reuters.
“The market environment for innovative medicines is not going to get any easier in the current financial year,” said a chairman of the company’s management board.
FDA Expands Uses of Drug Allegedly Associated with Pradaxa Bleeding Injuries
A week before Boehringer’s most recent fiscal report, it was announced that the U.S. Food and Drug Administration (FDA) expanded Pradaxa’s list of approved uses to include the treatment of deep venous thrombosis (DVT) and pulmonary embolism (PE). According to the company’s April 7th announcement, Pradaxa has been cleared by the agency to help reduce the risk of these conditions in patients who have been treated previously.
This medication is also at the center of mounting Pradaxa lawsuit litigation. A Case List updated recently in the U.S. District Court, Southern District of Illinois indicates that 2,263 claims over the blood thinner have now been filed. Plaintiffs in these cases allege that use of the blood thinner can lead to internal bleeding episodes that may become life-threatening since there is no antidote to reverse the side effect once it begins. Pradaxa internal bleeding suits allege that Boehringer failed to adequately warn the public that injuries may be irreversible, while episodes that may be associated with warfarin, a competing medication, can be stopped with the administration of Vitamin K.
Pradaxa was originally approved in 2010 to treat patients with atrial fibrillation, and has since become one of the most complained about medications in the U.S., according to a February 2014 report from 7 Action News. Over that time, the broadcast showed 12,494 injury reports filed with the FDA.
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