Endo International Plc (ENDP:US) agreed to pay more than $400 million to resolve lawsuits alleging its vaginal-mesh implants eroded in some women and left them in pain, people familiar with the settlement said.
Endo, which rose almost two percent today, said it settled “substantially all” the remaining U.S. suits against its American Medical Systems Holdings unit over the Perigee, Apogee and Elevate mesh implants, Chief Executive Officer Rajiv De Silva said yesterday in a statement. De Silva said the company was adding $400 million to its $1.2 billion liability reserve for the devices, designed to support pelvic muscles and treat incontinence.
