A New Chapter in Hernia Mesh Litigation
BD, a leading global medical technology company, has reached a settlement agreement resolving most of its ongoing hernia mesh legal cases. This development, announced on October 2, 2024, marks a significant shift in the landscape of hernia mesh litigation.
5 Key Points
• BD has settled the majority of its hernia mesh lawsuits.
• The settlement amount falls within BD’s existing product litigation reserve.
• Payments will be distributed over several years, aligning with BD’s financial plans.
• BD does not admit any liability or wrongdoing in this agreement.
• The company will continue to defend itself in unresolved cases.
Settlement Details and Financial Considerations
This BD hernia mesh settlement encompasses cases from the Rhode Island consolidated litigation and the federal multidistrict litigation in Ohio. BD plans to distribute the settlement payments over multiple years, aligning with its previously communicated financial goals. This approach ensures the settlement will maintain BD’s fiscal projections and require additional charges to its consolidated income statement.
Legal Stance and Ongoing Cases
While agreeing to the settlement, BD maintains its position of disputing these allegations. The company has not admitted to any liability or wrongdoing as part of the agreement. BD states it will continue to defend itself for cases not included in this settlement.
Focus on Patient Safety
BD emphasizes that patient safety and product quality remain at the forefront of its priorities. The company acknowledges that all implantable medical devices carry inherent risks alongside their clinical benefits. BD asserts confidence in both its product designs and its practice of providing comprehensive information about the risks and benefits of its products to physicians and patients.
Stakeholder Impact
The settlement aims to resolve uncertainties for all parties involved in the settled cases. BD believes this agreement serves the interests of all stakeholders. The hernia mass tort litigation represents a substantial portion of BD’s total product litigation reserve.
FAQ
Q: How does this settlement affect BD’s financial outlook?
A: The settlement amount is within BD’s current product litigation reserve and will be paid over multiple years, aligning with the company’s established financial plans.
Q: Does this agreement cover all hernia mesh cases against BD?
A: While the settlement resolves most cases, it does not encompass all hernia mesh litigation against BD.
Q: Has BD accepted fault through this settlement?
A: BD has not admitted any liability or wrongdoing as part of this agreement and continues to contest the allegations.
Q: What does this mean for patients with BD hernia mesh implants?
A: The settlement aims to resolve legal uncertainties, but BD maintains that all implantable devices have risks and benefits that require discussion between physicians and patients.
Q: Will BD alter its approach to product safety after this settlement?
A: BD reaffirms its commitment to patient safety and product quality, stating these remain top priorities for the company.
Citations
BD. (2024, October 2). BD Reaches Agreement to Resolve Vast Majority of Hernia Litigation [Press release]. PRNewswire.
