Wednesday - August 8, 2001

Bayer withdraws cholesterol-lowering drug Baycol/Lipobay

Leverkusen – Bayer has withdrawn all dosages of its cholesterol-lowering drug with the brand names Baycol/Lipobay (active ingredient: cerivastatin) with immediate effect throughout the world, except in Japan, and is withdrawing supplies of the product currently in the market. 

The reason for this voluntary action lies in increasing reports of side effects involving muscular weakness (rhabdomyolysis), especially in patients who have been treated concurrently with the active substance gemfibrozil despite a contraindication and warnings contained in the product information. Japan is unaffected by this move because gemfibrozil is not available there.

"We have decided on this action in the interest of patient safety. We will continue to conduct further assessments over the next few months to evaluate the benefit/risk ratio of cerivastatin," explains Dr. David Ebsworth, Head Manager of Bayer's Pharmaceuticals Business Group. Any possible resumption of the marketing of certain dosages of Baycol/Lipobay will be the subject of extensive consultations between Bayer and the regulatory authorities.

In view of the financial burden and loss of earnings for Bayer's Health Care segment resulting from the withdrawal of its cholesterol-lowering drug, as well as the continuing weakness of the world economy, which particularly affects the industrial business, it is now assumed that earnings for the full year will fall substantially short of previous estimates. The target of a 20 percent return on sales (before exceptional items) in the Health Care segment in 2002 can no longer be met.

Forward-Looking Statements

This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group management. Various known and unknown risks, uncertainties and other factors could lead to substantial differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.