J&J has agreed to a settlement with a Texas-based law firm in which it will pay $120M to resolve approximately 2,600 cases. This results in an average value of approximately $46,000.00 per case. There remain approximately 42,400 cases filed against J&J for injuries resulting from vaginal mesh products. J&J continues to take the position that the financial risk from the mesh cases is not material, however, it has set aside an undisclosed reserve for those and other product claims according to its October filing with the Securities and Exchange Commission.
Earlier this month the FDA re-classified mesh products as high risk.
