Coloplast announced in a press release that it was planning to allocate one billion in Danish Krone (DKK), which converts to over $180 million, as a legal fund to be used for transvaginal mesh lawsuits. The transvaginal mesh manufacturer made the announcement in early May. In their press release, Coloplast stated that it expects to be the target of approximately 7,000 U.S. lawsuits regarding their transvaginal mesh products.
With such a large number of transvaginal mesh lawsuits before them, Coloplast noted that their insurance coverage would not be able to cover all legal expenses, which is the reason for establishing the reserve.
In their announcement, Coloplast also expressed their willingness to negotiate settlements.
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