An Endo Health Solutions Inc. unit has agreed that it will pay $54.5 million in order to settle lawsuits alleging that its vaginal-mesh implants eroded in some women, leaving them incontinent and in pain.
This agreement will resolve an unidentified number of suits over the company’s vaginal-mesh devices, which includes Perigee, Apogee, and Elevate, but will not affect the majority of vaginal-mesh suits filed against AMS, approximately 5,100 (up from 2,900 last year). Those cases were consolidated for pre-trial proceeds before a federal judge in West Virginia, where the first case is set to begin in December.
According to company officials, they “intend to continue to vigorously defend themselves in the remaining mesh product liability cases and in any new cases that may arise.”
Endo is one of four companies facing a total of 29,000 suits brought by women who claim the vaginal implants injured them. Those cases have been consolidated before a U.S. District Judge in Charleston, West Virginia.
So what is this? What I think is that there are a number of plaintiffs that either had weak cases or wanted their money desperately and this company “took advantage” (I put it in quotes because I don’t really blame them for it) of them and settled them for less than their fair value (or, in the not-so-good cases, maybe nuisance value is fair value).