May 1, 2014 in Business

In Brief: Firm to settle lawsuits involving mesh implants

From Wire Reports
 

WASHINGTON – Drug and medical device maker Endo International says it will pay $830 million to resolve roughly 20,000 personal lawsuits from patients who say they were injured by the company’s vaginal mesh implants.

Tens of thousands of women have sued Endo and other device makers over mesh used to repair pelvic collapse in women. Mesh implants were initially pitched to doctors as an improvement over surgery, but the Food and Drug Administration has concluded they carry a higher risk of side effects including pain, bleeding and infection. On Tuesday, the FDA proposed regulating vaginal mesh repair products as “high-risk” medical devices, subject to stricter safety requirements.

Aeropostale to close stores, cut jobs in chain

NEW YORK – Aeropostale said it will cut jobs and close stores as part of the clothing retailer’s efforts to turn its business around.

The company said Wednesday that it will close 125 of its mall-based “P.S. from Aeropostale” stores by the end of its current fiscal year. It said changing consumer habits led to its decision to shutter the kids’ clothing stores in malls. Aeropostale also plans to eliminate about 100 corporate jobs.


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