- Transvaginal Mesh Maker to Shut Down
- June 9, 2016
- Law Firm: Waters Kraus LLP - Dallas Office
- The Astora Women’s Health division of Endo International PLC is calling it quits as the division faces thousands of transvaginal mesh lawsuits. Endo is just one manufacturer of dangerous vaginal mesh — implanted in thousands of women suffering from pelvic organ prolapse or urinary incontinence. Unfortunately, the medical device often does more to hurt than to help. Transvaginal mesh may cause painful bleeding, excruciating pain and difficulty having intercourse. The U. S. Food and Drug Administration (FDA) is reclassifying vaginal mesh as high-risk as opposed to moderate-risk. Companies that want to sell the high-risk mesh devices must now provide data to the FDA in advance to establish that the products are safe and effective.
Endo Facing Thousands of Vaginal Sling Lawsuits
In publicly filed disclosures in August 2015, Endo reported that it had set aside $1.53 billion to cover costs associated with injuries to all the women who have been harmed by the company’s transvaginal mesh products. Endo has since increased that amount by $834 million.
Endo tried to sell the Astoria division that made the defective vaginal mesh products, but then decided to close the outfit instead. Doctors who formerly worked in the transvaginal mesh division will be reassigned to work on other Endo products.
The company is hardly in dire financial straits. Endo reportedly anticipates that its 2016 annual revenue will top $4.3 billion. The medical device maker expects to boost its revenue further by its decision to move the company from Pennsylvania to Ireland, which has a lower corporate tax rate. Endo will, of course, continue to profit from the sale of its products here in the U.S. In fact, the company has a deal to buy its competitor, Par Pharmaceutical Holdings Inc., for $8 billion, adding a hundred products to Endo’s portfolio.