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Medical Device Company’s Profits Plunge Due to Transvaginal Mesh Legal Fees

Thousands of transvaginal mesh lawsuits have been filed by women across the country who are suffering from complications as a result of transvaginal mesh products.

With the first transvaginal mesh trial resulting in a verdict of $11 million awarded to a transvaginal mesh plaintiff, many manufacturers are nervous about the potential compensation they will have to pay out to all those who were hurt. 1388612_market_movements_2.jpg

One such company, C.R. Bard, recently released financial information that showed just how serious a problem these lawsuits are for the makers of transvaginal mesh products. However, the same data also showed that the drug company still remains very profitable and well-equipped to pay out compensation to injured victims.

Our Boston injury attorneys know that these manufacturers will likely end up paying out millions in damages via settlements or lawsuits and we urge plaintiffs to take action to hold these hugely profitable medical device manufacturers accountable for the harm that they caused.

C.R. Bard’s Q1 Profits Plunge

According to Mass Device, profits plunged during the first quarter for the medical device company C.R. Bard. Mass Device indicates that profits declined as a direct result of $26 million in legal fees paid out as a result of transvaginal mesh lawsuits.

Despite the decline in profits, however, C.R. Bard still exceeded Wall Street expectations and posted profits of $90.7 million on sales of $740.3 million. These millions of dollars in profits are made from a variety of different medical devices sold by the company.

Holding Transvaginal Mesh Manufacturers Responsible
While the legal fees were a major expense for C.R. Bard, the fact is that the company is still immensely profitable, just as many medical device manufacturers are. These companies make huge profits from selling medical products to people who need care.

Unfortunately, sometimes these companies put profits over people. This was the case when manufacturers sold dangerous transvaginal mesh products without proper testing and without ensuring that the products were safe for users. The products were rushed to the market under special 501(k) clearances that allowed for minimal testing and, even in light of ever-increasing problems, they have not been universally pulled from the shelves by all manufacturers.

Transvaginal mesh products, therefore, were implanted in thousands of women throughout the country and put these women at risk. Drug companies made millions off of these untested and dangerous products and drug companies continue to make profits that far exceed their legal costs.

These drug companies and medical device manufacturers need to pay for the harm they caused. Those who have experienced complications should consult with an experienced transvaginal mesh attorney in order to explore options for collecting compensation including joining a multi-district litigation. Such cases may be resolved in trial or may be resolved in out-of-court settlements, but in any case, C.R. Bard and the other manufacturers have huge profits available to help them pay for the costs of the plaintiff’s losses.

If you are a patient who received a transvaginal mesh implant in Massachusetts, call the Law Offices of Jeffrey S. Glassman for a free and confidential appointment — 1-888-367-2900.

Additional Resources:
Transvaginal mesh defect Results in Multi-Million Dollar Verdict, Boston Personal Injury Attorney Blog, March 23, 2013.