If you’ve suffered side effects after taking medication, you may be entitled to compensation. But if you’ve been injured by a defective drug, and you can’t work, how can you pay your bills until your compensation is awarded? You may need the services of a settlement funding company.
Xarelto is a brand name for rivaroxaban, an anticoagulant medication (that is, a blood thinner) used to treat and prevent blood clots. Doctors in the U.S. wrote more than seven million prescriptions for Xarelto in 2018.
How Many Have Been Injured by Xarelto?
However, thousands of patients who say they have been seriously injured by Xarelto have filed lawsuits against drug companies to recover compensation for those injuries. Others charge that their family members have suffered wrongful deaths as a consequence of using Xarelto.
Over 25,000 lawsuits have alleged that Bayer, Johnson & Johnson, and Janssen Pharmaceuticals are profiting off Xarelto while putting patients at risk. And Xarelto is far from being the only allegedly defective drug. Dozens of drugs continue to generate thousands of lawsuits every year.
How Is Compensation Determined in Defective Drug Cases?
Under federal law, pharmaceutical companies that distribute defective drugs are liable for any and all injuries caused to the drug’s victims. The amount of compensation that victims may receive is determined by:
- the severity of the drug’s hazardous side-effects
- whether the side-effects are short or long-term
- whether the side-effects are life-threatening
- any additional treatments or surgeries required by the drug’s use
Do You Need Pre-Settlement Funding?
If you are a plaintiff in a defective drug lawsuit against a pharmaceutical company, you and your attorney will have to prove that a pharmaceutical company’s negligence is the reason why you were injured.
Whether you are suing a pharmaceutical company directly, or whether you are part of a class action lawsuit, lawsuits take time, and injury claims against drug manufacturers can be delayed for a variety of reasons.
In the interim, you may be unable to work, your debts are mounting, and you have additional medical expenses because of your injury. How can you meet your financial responsibilities while your defective drug claim is pending – and may remain pending for months or even longer?
If you have been injured by a dangerous or defective drug and your case is pending, the right settlement funding company can offer you pre-settlement funding – a cash advance in return for a portion of your compensation funds when you receive those funds.
An Advance Is Not A Loan
Pre-settlement funding is not a loan. The settlement funding company is typically repaid out of your compensation when you finally receive it, but if your lawsuit does not prevail or if you do not receive compensation for any reason, you keep the funds and owe the company nothing.
Pre-settlement funding can relieve financial stress and give you the financial “breathing space” to negotiate a better settlement. If a reasonable private settlement is not possible, your pre-settlement funds can give you the ability – and the time – to take your case before a jury.
You can learn more about defective drug lawsuits and pre-settlement funding by consulting the finance and funding professionals at Universal Funds. We would be honored to assist you.