Endo Reports 6% Drop in Sales from American Medical Systems this Quarter Amidst Mounting Surgical Mesh Lawsuits
The parent company of American Medical Systems, which is currently facing thousands of surgical mesh lawsuits, has reported a 6 percent decline in sales of its medical devices for the first quarter of 2013 when compared to last year, the Wall Street Journal reports.
According to an article published May 7th, 2013, Endo Health Solutions reported $123 million in total device sales for American Medical Systems this quarter, which reflected a decrease mostly related to U.S.-based sales of its Women’s Health products. The company admits the U.S. Food and Drug Administration (FDA)’s advisory committee meeting in September 2011, which discussed the safety and effectiveness of transvaginal mesh products, may have played a role in its financial shortfalls.
Despite the complications named in mesh lawsuits, the manufacturer continues to reiterate the safety of its products. According to the article, “AMS remains focused on educational activities as part of an overall effort to continue to encourage patients and physicians to discuss the risks and benefits of AMS’s surgical mesh devices as an important treatment option for patients who suffer from stress urinary incontinence and pelvic organ prolapse.”
International sales of products manufactured by its subsidiary, American Medical Systems, increased approximately three percent compared to the first quarter of 2012 and total revenue for Endo Health Solutions equated to $709 million.
Additionally, reports published in March 2013 revealed that in its fourth quarter of last year, the manufacturer’s earnings statements revealed a net loss of $716.3 million for the quarter in March of 2013, which reflected a $640 million write-down at American Medical Systems.
Endo expects to see 2013 revenues in the range of $2.80 billion to $2.95 billion, the Wall Street Journal stated.
American Medical Systems Facing Thousands of Surgical Mesh Lawsuits
It is uncertain whether the cost of defending a rising number of mesh lawsuits will impact the financial future of American Medical Systems, however.
As of March 2013, approximately 5,100 surgical mesh lawsuits involving vaginal mesh implants manufactured by American Medical Systems had been filed in U.S. courts. Most of these claims have been consolidated in a multidistrict litigation (MDL) underway in the U.S. District Court, Southern District of West Virginia and allege the following complications:
- Erosion through vaginal tissue
- Urinary problems
- Recurrence of prolapse and/or incontinence.
- Bowel, bladder, and blood vessel perforation
- Vaginal scarring
- Pain during sexual intercourse
Thousands of mesh lawsuits have also been filed over devices manufactured by Johnson & Johnson subsidiary, Ethicon, C.R. Bard Inc. and Boston Scientific. Many of these claims are pending in the U.S. District Court for the Southern District of West Virginia.
How to File a Surgical Mesh Lawsuit
If you suffered injuries after being implanted with a vaginal mesh device manufactured by American Medical Systems, contact an attorney at Bernstein Liebhard LLP to find out if you are eligible to file a surgical mesh lawsuit. Call the Firm directly at (877) 779-1414.