Pharmaceutical maker Bayer announced this week that it is facing 7,400 lawsuits stemming from the August 2001 recall of the cholesterol-lowering medication Baycol, up from 5,700 in November 2002. A spokesperson for Bayer said the company has settled 400 of those suits but refused to disclose the amount of the settlements. Analysts, however, believe the drug maker will pay between $1.5 billion and $9.7 billion to settle all of its Baycol litigation.

To date, Bayer has lost over $840 million in operating earnings due to the medication's withdrawal. Bayer recalled Baycol after receiving reports that it caused myositis and rhabdomyolysis, potentially fatal muscle and kidney disorders. Over 100 deaths have been linked to the drug's adverse side effects.