Bayer reported that it has reached a settlement with some plaintiffs over claims that its MRI contrast agent Magnevist caused nephrogenic systemic fibrosis (NSF), a rare condition affecting people with kidney disease.

The terms of the settlement were not disclosed.

"We were able to settle a number of individual legal disputes out of court without accepting liability," said Oliver Renner, a spokesman for Bayer's prescription drug division, reported Reuters.

The first case was filed in 2007 by the mother of a patient who died in 2004 after receiving a Magnevist injection as part of an MRI procedure. As of February of this year, Bayer said that 241 U.S. lawsuits involving Magnevist were pending and that it anticipated more would be lodged.

In 2007, the FDA ruled that gadolinium-based contrast agents should carry strong NSF warnings.

Bayer said it would defend itself against any claims related to the agent. In 2008, the company generated €241 million (U.S. $319 million) from Magnevist, down 20 percent year-on-year, reported Reuters.