Trasylol Cited in Annual Stockholder Meeting Countermotion
The Coalition against Bayer Dangers has filed a countermotion to Bayer AG’s annual stockholder meeting agenda. The countermotion asserts that the company’s conduct violated the rules of corporate management and cites the marketing of Trasylol as one such instance of allegedly irresponsible corporate conduct.
The filing is a response to a motion made by Bayer which would ratify the actions of management during 2007. The Coalition against Bayer Dangers is urging shareholders to vote against ratification.
The annual stockholder meeting is scheduled for April 25, 2008. The countermotion states:
Only after intervention by the German Federal Institute for Drugs and Medical Devices (BfArM) did BAYER stop marketing its heart surgery drug, Trasylol in November 2007. Although the risks of Trasylol had been known for a long time, the management stood by the drug to the bitter end. According to physician Dr. Dennis Mangano, halting sales in good time could have saved the lives of at least 22,000 patients. Mangano showed two years ago that Trasylol causes an above average number of severe side-effects such as kidney damage, heart attacks and strokes. Quite recently, it became known that BAYER had commissioned a study back in the 1970s that showed a risk of kidney damage. However, the results landed in a drawer. At the beginning of the 1980s, BAYER was told of the risks yet again, but continued to market Trasylol regardless of the consequences.
If you or a loved one suffered complications after taking Trasylol contact Carey & Danis. We can help. Carey & Danis is a national law firm that represents individuals injured by America's largest corporations.
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