Interventional device developer Boston Scientific reported that an agreement has been reached to settle claims associated with a series of product communications issued by medical product developer Guidant of St. Paul, Minn., in 2005 and 2006. The Natick, Mass.-based Boston Scientific acquired Guidant last year.
Under the terms of the agreement, subject to certain conditions, Boston Scientific will pay a total of $195 million. The agreement includes approximately 4,000 claims of individuals that have been consolidated in the U.S. District Court for the District of Minnesota in a Multi-District Litigation (MDL).
In addition, Boston Scientific said that the agreement includes an undetermined number — but not all — of additional similar claims throughout the country. As a result of the agreement, the trials in the bellwether cases in the MDL scheduled to start on July 30 this year have been suspended pending implementation of the agreement, according to the company.