Baycol Settlement Approved by Philadelphia Judge

On March 17, 2006, a Philadelphia judge granted preliminary approval to "a class action settlement that would reimburse unions, employers and health plans for money spent on the recalled cholesterol drug Baycol," according to a report by ABC News.

Stewart Cohen, a lawyer for the group of plaintiffs, said the action was the first nationwide class action approved on behalf of third party payers in a case of a withdrawn drug.

The settlement could be as high as $10 million, according to lawyers in the case.

Bayer, maker of Baycol, removed the drug from the market in 2001, and has agreed to more than $1 billion in settlements. Baycol has been linked to more than 100 deaths.