<span id="midArticle_start"/> (Adds case details, updates number of cases)
<span id="midArticle_0"/>By Susan Kelly
<span id="midArticle_1"/> (Reuters) - Boston Scientific Corp on Tuesday said it reached its first settlement agreement to resolve a portion of the legal claims it faces involving its transvaginal mesh product to treat urinary incontinence.
<span id="midArticle_2"/>The medical device maker, in a regulatory filing, said it expects to pay about $119 million to resolve 2,970 cases.
<span id="midArticle_3"/>The Marlborough, Massachusetts-based company said it faces more than 25,000 mesh claims in total in U.S. federal and state courts. In November, it lost its first two federal trials, in West Virginia and Miami.
<span id="midArticle_4"/>The new agreement includes a case in the district court of Dallas County, Texas, for which there is a judgment of about $35 million that is subject to appeal, Boston Scientific said.
<span id="midArticle_5"/>The agreement does not constitute an admission of liability or wrongdoing, the company said, adding it will complete payment of settlement funds into an escrow account by Oct. 1. It is also establishing a procedure for claimants to participate in the settlement.
<span id="midArticle_6"/>In the Miami case, Boston Scientific was ordered to pay $26.7 million to four women after a federal court jury found the company liable for selling faulty transvaginal mesh devices. Plaintiffs said they suffered pain, bleeding and infection from the company's Pinnacle device.
<span id="midArticle_7"/>In West Virginia, a federal jury returned an $18.5 million verdict against Boston Scientific involving claims of injuries caused by mesh devices.
<span id="midArticle_8"/>Boston Scientific has fought back against claims that the devices are defective or were to blame for the women's complications. It won its first two mesh trials in Massachusetts state court.
<span id="midArticle_9"/>It is one of seven companies, including Johnson & Johnson's Ethicon unit and C.R. Bard Inc, which have been hit with lawsuits over the products.
<span id="midArticle_10"/>Boston Scientific shares were down 0.7 percent at $17.86 in early afternoon trading on the New York Stock Exchange. (Reporting by Susan Kelly in Chicago; editing by Nick Zieminski, G Crosse)
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<span id="midArticle_0"/>By Susan Kelly
<span id="midArticle_1"/> (Reuters) - Boston Scientific Corp on Tuesday said it reached its first settlement agreement to resolve a portion of the legal claims it faces involving its transvaginal mesh product to treat urinary incontinence.
<span id="midArticle_2"/>The medical device maker, in a regulatory filing, said it expects to pay about $119 million to resolve 2,970 cases.
<span id="midArticle_3"/>The Marlborough, Massachusetts-based company said it faces more than 25,000 mesh claims in total in U.S. federal and state courts. In November, it lost its first two federal trials, in West Virginia and Miami.
<span id="midArticle_4"/>The new agreement includes a case in the district court of Dallas County, Texas, for which there is a judgment of about $35 million that is subject to appeal, Boston Scientific said.
<span id="midArticle_5"/>The agreement does not constitute an admission of liability or wrongdoing, the company said, adding it will complete payment of settlement funds into an escrow account by Oct. 1. It is also establishing a procedure for claimants to participate in the settlement.
<span id="midArticle_6"/>In the Miami case, Boston Scientific was ordered to pay $26.7 million to four women after a federal court jury found the company liable for selling faulty transvaginal mesh devices. Plaintiffs said they suffered pain, bleeding and infection from the company's Pinnacle device.
<span id="midArticle_7"/>In West Virginia, a federal jury returned an $18.5 million verdict against Boston Scientific involving claims of injuries caused by mesh devices.
<span id="midArticle_8"/>Boston Scientific has fought back against claims that the devices are defective or were to blame for the women's complications. It won its first two mesh trials in Massachusetts state court.
<span id="midArticle_9"/>It is one of seven companies, including Johnson & Johnson's Ethicon unit and C.R. Bard Inc, which have been hit with lawsuits over the products.
<span id="midArticle_10"/>Boston Scientific shares were down 0.7 percent at $17.86 in early afternoon trading on the New York Stock Exchange. (Reporting by Susan Kelly in Chicago; editing by Nick Zieminski, G Crosse)
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