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Coloplast (COLOB.CO) Said To Pay $16 Million To Settle Mesh Lawsuits


3/6/2014 8:01:30 AM

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Coloplast A/S (COLOB), the Danish maker of medical products, agreed to pay about $16 million to settle lawsuits accusing it of injuring women with its vaginal-mesh inserts, three people familiar with the accord said. Officials of Humlebaek, Denmark-based Coloplast agreed in January to resolve about 400 suits over the inserts, which are designed to support internal organs, said the people, who asked not to be identified because they weren’t authorized to speak publicly about the settlement. The accord will provide an average payment of about $40,000 for each claimant, they said.

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