C.R. Bard ($BCR) must still fork over $2 million in damages awarded by a jury in a lawsuit alleging a patient was injured by an unsafe vaginal mesh implant made by the company, a West Virginia U.S. district judge upheld.
Judge Joseph Goodwin issued the decision on Oct. 18, noted The Rottenstein Law Group, which is representing a number of plaintiffs in lawsuits against Bard and other manufacturers of vaginal mesh. The judge reaffirmed that the initial award was appropriate and that attorneys representing Donna Cisson successfully proved the company's vaginal mesh did not function properly, Rottenstein said.
Cisson alleged that Bard's Avaulta Plus vaginal mesh implant gave her bladder spasms and caused bleeding as well as pelvic and rectal pain. Cisson testified that she needed several surgeries to remove the implant, though Bard argued that it had been properly designed and did not cause Cisson's injuries.
Bard and rivals Boston Scientific ($BSX), Endo Health Solutions ($ENDP), Coloplast and Cook Medical face thousands of lawsuits alleging their transvaginal mesh implant devices harmed patients. All are rumored to be negotiating to settle the remaining cases.
Even as vaginal mesh lawsuits continue to dog Bard, the company reported mixed to positive results for its 2013 third quarter. New Jersey-based Bard said net income dropped to $93.2 million during the period, down from $129.3 million in the 2012 third quarter, due to one-time expenses. But net sales grew to $758 million in Q3, up from $722.9 million over the same period last year.
Sales soared for Bard's surgical specialties division, and the company's oncology, vascular and urology sectors also generated steady gains. Bard President and CEO Timothy Ring said in a statement that the company exceeded expectations "on both the top and bottom line."
He added: "Consistent with our plan, we continue to focus on shifting the mix of the portfolio to faster revenue growth through targeted investments and acquisitions." One of those targeted investments comes to a head on Nov. 13, when shareholders at urology home care device company Rochester Medical ($ROCM) are set to approve Bard's $262 million bid for the company.
- read the Rottenstein update
- here's MassDevice's take
- check out Bard's Q3 results