Endo Settles ‘Virtually All Known’ Mesh Suits for $775 Million

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Endo International Plc announced that it has reached agreements to resolve virtually all known U.S. vaginal-mesh implants product liability claims for $775 million. Women suing the company accuse it of selling defective devices that caused injuries such as chronic pain, incontinence, bleeding and infection.

The Dublin-based company said it is engaged in discussions to resolve the known remaining U.S. claims at reasonable values. Under the agreements, Endo will make installment payments beginning in the fourth quarter of 2017 and continuing through the fourth quarter of 2019.

Endo’s settlement of the remaining 22,000 mesh suits means the company has now set aside more than $2.6 billion to wipe out cases over the flawed medical devices, according to filings with the U.S. Securities and Exchange Commission.

As part of its second quarter 2017 results, the company intends to increase its mesh product liability accrual by $775 million, which is expected to cover approximately 22,000 U.S. mesh claims, as well as all known international mesh product liability claims and other mesh-related matters.

Endo said it is unaware of any mesh-related matters not covered by the foregoing accrual increase.

“Beginning in the second quarter of 2017, we aggressively executed a settlement strategy in connection with Endo’s mesh litigation. We believe it is a very important milestone for Endo to have reached agreements to resolve virtually all known U.S. mesh product liability claims,” said Paul Campanelli, Endo’s President and Chief Executive Officer. “While it remains possible that additional claims will be filed, we believe today’s announcement will assist most mesh claimants to move forward with their lives and will permit Endo to move forward with an even greater focus on executing against our core strategic priorities,” he added.

Meanwhile, Johnson & Johnson said in SEC filings in February that it was defending 54,800 cases over its pelvic mesh inserts while Boston Scientific said that same month it faced 43,000 mesh claims. Both companies have settled some mesh suits.

Endo Settles ‘Virtually All Known’ Mesh Suits for $775 Million syndicated from http://www.thenationaltriallawyers.org/feed/

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