(Adds case details, updates number of cases)
April 28 (Reuters) - Boston Scientific Corp on Tuesday said it reached its first settlement agreement to resolve a portion of the legal claims it faces involving its transvaginal mesh product to treat urinary incontinence.
The medical device maker, in a regulatory filing, said it expects to pay about $119 million to resolve 2,970 cases.
The Marlborough, Massachusetts-based company said it faces more than 25,000 mesh claims in total in U.S. federal and state courts. In November, it lost its first two federal trials, in West Virginia and Miami.
The new agreement includes a case in the district court of Dallas County, Texas, for which there is a judgment of about $35 million that is subject to appeal, Boston Scientific said.
The agreement does not constitute an admission of liability or wrongdoing, the company said, adding it will complete payment of settlement funds into an escrow account by Oct. 1. It is also establishing a procedure for claimants to participate in the settlement.
In the Miami case, Boston Scientific was ordered to pay $26.7 million to four women after a federal court jury found the company liable for selling faulty transvaginal mesh devices. Plaintiffs said they suffered pain, bleeding and infection from the company’s Pinnacle device.
In West Virginia, a federal jury returned an $18.5 million verdict against Boston Scientific involving claims of injuries caused by mesh devices.
Boston Scientific has fought back against claims that the devices are defective or were to blame for the women’s complications. It won its first two mesh trials in Massachusetts state court.
It is one of seven companies, including Johnson & Johnson’s Ethicon unit and C.R. Bard Inc, which have been hit with lawsuits over the products.
Boston Scientific shares were down 0.7 percent at $17.86 in early afternoon trading on the New York Stock Exchange. (Reporting by Susan Kelly in Chicago; editing by Nick Zieminski, G Crosse)
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