The American Medical Systems (AMS) Inc. unit of Endo Healthy Solutions Inc. has agreed to pay $54 million to settle lawsuits alleging its transvaginal mesh implants have injured women. The actual number of the lawsuits encompassed by this settlement is unknown at this time. Some of the names of the products this covers include Apogee, Elevate and Perigee.
This is just the beginning for Endo; the majority of the 5,000 lawsuits filed against AMS have been consolidated before U.S. District Court Judge Joseph Goodwin in Charleston, West Virginia. The first AMS trial is scheduled for December of this year. But that won't be the first mesh trial before Judge Goodwin: C.R. Bard is slated to defend its mesh product in a trial that will start on July 8th.
It's unclear what the per case average is on these settlements. As a result we can't fully assess this settlement. But it has the court's approval, so it looks like it will hold up. As we learn more details, we'll be able to comment on whether this is a good settlement or to low of a settlement.
Regardless of valuation, we can say that the mesh manufacturers may well be starting to see the incredible exposure they face here. Lawyers from around the country have been working up mesh cases. As more and more make their way to trial, we might see the beginnings of more active settlement.
Washington State victims of transvaginal mesh: So how does this affect victims of transvaginal mesh who reside in Washington State or elsewhere in the Pacific Northwest? First, if you have a potential claim, you should see a Washington State transvaginal mesh attorney right away. Second, if you already have an attorney, the attorney should be tracking these developments so as to assess your lawsuit. Like with any mass-tort, the TVM cases are new and continue to evolve.
Post-note: Endo Pharmaceutical Holdings Inc purchased AMS for $2.9 billion back in 2011. AMS had been an attractive target; it's devices and treatments generated $542.3 million in revenue in 2010. The purchase propelled a 32% increase in the stock of AMS. AMS certainly has been a profit machine, so much that at the time of the acquisition, Endo's CEO, Dave Holveck was hoping to generate $1 billion in urology sales the subsequent year. For those suffering from the complications of mesh, it must be difficult to hear about the drive for business in the "urology or pelvic area." It's no surprise that as massive amounts of baby boomers continue to age, that the markets will seek to provide products for this demographic. But since the manufacturers and distributors of transvaginal mesh put business profits ahead of safety testing, resulting in great harm to countless women around the world, listening to this kind of business focused talk solidifies the point, and reopens a painful emotional wound. These companies have the money to right the wrong they have done here. It's up to us to remember that and to relentlessly push to make them pay.