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C.R. Bard Reports Loss Over Hernia Lawsuits

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New Jersey-based C.R. Bard has reported a $47.8 million loss in the second quarter as compared to a $124.7 million profit last year.

Over three thousands lawsuits have been filed against C.R. Bard over the hernia patches, which were recalled in 2005, after it was discovered that the recoil ring of the device broke apart and sometimes moved about the abdomen causing internal organ damage in several patients.

Zacks reports that “Adjusted earnings exclude a lumpsum legal charge (of $195.5 million) associated with settlement of lawsuits related to the company’s hernia repair product. Patients across the U.S. sued the company accusing that its implanted hernia patches (Composix Kugel Mesh Hernia Patch) were defective and caused serious injuries such as intestinal blockages and bowel perforations. These patches were made by C.R. Bard’s subsidiary Davol Inc.”

breakinglawsuitnews.com disclaimer: This article: C.R. Bard Reports Loss Over Hernia Lawsuits was posted on Monday, July 25th, 2011 at 8:59 pm at breakinglawsuitnews.com and is filed under Medical Device Lawsuits.

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