By Jeff Overley (February 28, 2013, 5:41 PM EST) -- Bayer AG on Thursday said it booked $1.6 billion last year for U.S. legal expenses related to personal injury suits involving its popular oral contraceptives Yaz and Yasmin, dealing a sharp blow to the pharmaceutical giant's profits.
The accounting measure covers settlements of existing lawsuits as well as anticipated future cases involving the popular birth control pills, which have been linked to a higher risk of blood clots. As of Feb. 12, the German corporation said it's paid $1 billion to settle 4,800 suits with Americans.
While the company's pharmaceutical division saw sales rise more than 4 percent to $14.1 billion,...
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