They accept that their research, published in the respected British Medical Journal, which claimed the drugs caused higher rates of -diabetes, tiredness and muscle pain, was incorrect, the Daily Express reported.
However, there are fears that thousands of patients' lives could have been needlessly put at risk if they followed the research's advice and stopped taking their medication, vital for preventing heart attacks and stroke.
Others who may have benefited from taking the pills could also have failed to start taking statins because of the fears.
The case has echoes of the 1998 MMR catastrophe, when the triple vaccine was wrongly linked to autism in an article in The Lancet. Millions of children are still at risk of catching measles as a result.
Experts acted to assure heart patients that statins are safe and they should continue taking their medication as prescribed by their doctor.
Dr Tim Chico, honorary consultant cardiologist at Sheffield Teaching Hospitals Trust, asserted that statins save lives, and this is beyond doubt and is one of the most well proven treatments doctors can use for any disease.