BOSTON — Despite facing thousands of lawsuits and million dollar verdicts for its defective transvaginal mesh products, Boston Scientific Corp. posted profits this past quarter.
This past quarter the medical device manufacturing giant saw its shares rise as much as 4.3 percent as it posted a growth in sales for the fifth straight quarter in a row. In fact, the company’s shares reached a more than seven-year high at $15.28.
Sales from Boston Scientific’s interventional cardiology business (such as catheters and stents) rose to $549 million and sales of its cardiac rhythm management devices (such as pacemakers) rose to $481 million. In total, Boston Scientific’s total revenue rose to $1.89 billion just this past quarter.
This is incredible and frustrating for plaintiffs considering the legal battles the company is fighting against victims of its transvaginal mesh products. Last quarter alone the company had more than $37 million in litigation charges, a drop in the hat compared to its total revenue stream.
About Boston Scientific
Boston Scientific is the maker of various transvaginal mesh (also known as bladder sling) products. Transvaginal mesh is a synthetic netting that is used by doctors to prop up the muscles in the pelvic region of women. The purpose of this is to help prevent pelvic organ prolapse or stress urinary incontinence. Pelvic organ prolapse is when the muscles in the pelvic region weaken to the point they cannot hold organs in place. Stress urinary incontinence is incontinence that occurs typically during exercise or physical movement.
Transvaginal mesh was created and surgically implanted into thousands of women to treat these issues. It turned out, however, that it actually facilitated them. Women were finding themselves not only experiencing prolapse and incontinence after the mesh was implanted but other more serious conditions such as infection, painful intercourse, and chronic pain. Furthermore, the mesh was found to erode and migrate, thus resulting in pieces of mesh piercing neighboring organs and causing further problems. Patients are then forced to have additional surgeries to remove the mesh and repair the damage.
The FDA released multiple safety communications on the device as more patients came forward with injuries.
Boston Scientific is one of the major manufacturers facing litigation from thousands of injured women. There are more than 70,000 transvaginal mesh cases in one federal court in West Virginia. Boston Scientific has already been hit with multiple major verdicts: one for $26.7 million in Florida, $18.5 million in West Virginia, and $73.4 million in Texas.
If you or a loved one has been harmed by a transvaginal mesh product, regardless of the manufacturer, please contact an experienced injury attorney.
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