April 30 Endo International Plc said Wednesday it has agreed to pay $830 million to resolve about 20,000 legal claims from women who say they were injured by transvaginal mesh devices.
The company said in a statement that the agreement will resolve what it called a substantial majority of the mesh litigation brought against its American Medical Systems subsidiary. Endo did not admit liability or fault.
Endo is among several major medical-device manufacturers that have been hit with tens of thousands of lawsuits over the mesh devices, which are used to treat pelvic organ prolapse and stress urinary incontinence. Women have alleged they suffered pain during sex, bleeding and other complications from the devices.
The Endo agreement in principle is still subject to several conditions, including confirmation of medical records for plaintiffs, the company said. Endo said it had previously set aside $520 million to cover all legal claims arising from the mesh devices.
Endo said it will incur a pretax, non-cash charge of $625 million in the first quarter to help cover the costs of the settlement, according to the statement.
A lawyer representing some of the plaintiffs, Joe Rice of Motley Rice, said the settlement would be implemented over the next year. In a statement, he called the settlement a result of "adversarial but respectful and professional negotiation on the part of all the parties."
(Reporting by Jessica Dye; Editing by Bernard Orr)