In a security filing last week, officials at Endo’s American Medical Services Inc. (AMS) said that they have agreed to settle an undisclosed number of lawsuits over the company’s vaginal-mesh devices. An Endo Health Solutions Inc. unit will pay $54.5 million to resolve lawsuits that allege their vaginal-mesh implants eroded in some women and left them incontinent and in pain. The settlement includes suits involving Perigee, Apogee and Elevate implants which are designed to treat the collapse of pelvic organs as well as urinary incontinence. This settlement will have no effect on the nearly 5,000 vaginal-mesh lawsuits filed against AMS that have been consolidated for pre-trial proceeding before a federal judge in West Virginia. According to court filings, the first trial of a federal AMS suit is set for December. Earlier this year, Endo officials reported that the number of suits filed over the implants had risen from 2,900 last year to about 5,100. Endo, acquired by AMS for $2.9 billion in 2011, is one of four companies facing a total of 29,000 lawsuits by women who allege the vaginal implants harmed them. Women’s groups are demanding that the devices be recalled after an August 2011 U.S. Food and Drug Administration report declared that the vaginal-mesh products should be classified as posing a risk to patients. A review of side effects reported between January 2008 and December 2010 prompted the FDA’s report. Last year, the FDA ordered 31 manufacturers, including Endo, Johnson & Johnson and C.R. Bard, Inc. to conduct three years of safety studies on their devices.
Financial Implications for Manufacturers
Endo cut its 2013 revenue forecast t0 $2.65- $2.8 billion down from $2.8- $2.95 billion and cut its projected profit, excluding some items, to $4.10- $4.40 a share from $4.40- $4.70. The company plans to reduce its global workforce by 15% in the wake of reduced sales and profits. In another blow to the company’s bottom line, the FDA ruled, last month, that generic copies of Endo’s Opana ER are allowed to remain on the market without abuse-deterrent technology. The competition may reduce sales by an additional $120 million and cut profit by 55 cents a share. AMS officials say that their executives “intend to continue to vigorously defend themselves in the remaining mesh product liability cases and in any new cases that may arise.”
Transvaginal Mesh Lawsuit Attorneys
If you or someone you love has experienced transvaginal mesh complications or injuries after a treatment for pelvic organ prolapse or stress urinary incontinence, the transvaginal mesh injury lawyers at Phillips Law Firm can help. Our transvaginal mesh injury lawsuit attorneys understand that transvaginal mesh injuries are often painful and costly for our clients; therefore, if we do not recover anything for you, you do not owe us an attorney fee. Call Phillips Law Firm at 1-800-708-6000.