J & J verses Boston Scientific
It is Easter Sunday and this morning I received another plea for support from a woman who is very afraid. I understand what she is going through because I have lived it and can feel her pain and anguish. But this morning I want to tell you all something if you recently received an offer from your lawsuit and is shocked at how little it was.
Behind the scenes there is so much more going on with these two companies and it has gone on for TEN years. They have battled away millions, and perhaps far more and yet they are making sure women will receive very little if anything at all. This is what I want to share with you.
Boston Scientific Announces Agreement With Johnson & Johnson To Resolve Guidant Litigation
MARLBOROUGH, Mass., Feb. 17, 2015 /PRNewswire/ — Boston Scientific Corporation (NYSE: BSX) today announced the settlement of the breach of merger agreement lawsuit brought by Johnson & Johnson against Guidant Corporation, stemming from Boston Scientific’s acquisition of Guidant. In the lawsuit filed in 2006, Johnson & Johnson alleged that Guidant breached the merger agreement it had with Johnson & Johnson, and sought more than $7 billion in damages. Guidant disputed the allegations. As a result of the settlement agreement, Johnson & Johnson has agreed to permanently dismiss its action without acknowledgment of liability by Guidant.
Additionally, Boston Scientific will make aggregate payments totaling $600 million to Johnson & Johnson. Boston Scientific expects to record a pre-tax litigation-related charge of approximately $600 million within its fourth quarter 2014 results as a recognized subsequent event. This charge will be excluded from Boston Scientific’s non-GAAP measures of adjusted income that were previously announced. In connection with the settlement, Boston Scientific has also agreed not to bring patent infringement or other claims related to Johnson & Johnson’s S.M.A.R.T.®, S.M.A.R.T.® Control®, and S.M.A.R.T.® Flex stent products.
$600 million paid from Boston Scientific to Johnson & Johnson plus ten years of legal fees on both sides. Now take a look at what they are offering women in these settlements and even then they are trying to punish women and get rid of as many of them as possible, either by throwing out their cases based on choice of doctor, of by blaming issues from the past and who knows what else. This is about the Boston Scientific settlement announcement.
“The medical device maker, in a regulatory filing, said it expects to pay about $119 million to resolve 2,970 cases”. Read the rest
$119 million divided by 2970 women. Pitiful.
Now back to the ten years litigation story
“We feel this settlement is in the best interests of the company and its shareholders,” said Tim Pratt, Executive Vice President, Chief Administrative Officer, General Counsel and Secretary. “We are pleased to end this longstanding litigation between Guidant and Johnson & Johnson, and to continue focusing on delivering innovative products and solutions to physicians and patients.”
About Boston Scientific
Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 35 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.com and connect on Twitter and Facebook.
Yes Boston Scientific transforms lives alright, but with their mesh implants not in a good way and Johnson & Johnson are no better and probably worse.
So what else is going on that you don’t know about? Remember Medtronics who bought out Covidien? Read this as a reminder Then read the following.
Heart-rhythm devices giant Medtronic will fork over $9.9 million to settle government claims it paid doctors to implant its pacemakers and defibrillators.
The settlement, announced by the Department of Justice, was part of a whistleblower lawsuit brought by former Medtronic employee, Adolfo Schroeder. He claimed the Minnesota-based company used a variety of kickback schemes to influence physicians that included direct payments, free tickets to sporting events, money to speak at Medtronic referral business events and the production of marketing and business development plans for their practices. Good for you Mr. Schroeder. I wonder if you have taken all the crap I have taken because I tell the truth what is happening with mesh implants.
“Decisions about devices used to treat cardiac rhythmic disease should be based on the best interests of the patient, not on whether the manufacturer is going to pay a kickback,” U.S. Attorney Benjamin Wagner of the Eastern District of California said in a statement.
A spokeswoman for Medtronic, Cindy Resman, told Bloomberg the settlement wasn’t an admission the company engaged in unlawful activities. It does, she said, bring “to close a long-running review of certain sales activities” that date back to 2001.
These companies NEVER admit guilt and they get away with it all the time. What is sales activities? Normal sales activities don’t result in a fine of $9.9 million.
Under provisions of the False Claims Act, Schroeder is eligible to receive about $1.73 million of the settlement cash. Nice for Mr. Schroeder but I do this without a monetary prize at the end of it. Where did the rest go? I am sure not with the people who should receive it. It says ‘government claims’ so no doubt our government pocketed the money.
Earlier this month, Medtronic reported a 54% year-over-year drop in earnings for the fourth-quarter that was attributed to a one-time, pretax charge of $746 million for litigation that covered the now-settled patent dispute with Edwards Lifesciences over the company’s CoreValve TAVR, and a $22 million settlement of product liability claims linked to its Infuse Bone Graft. Overall earnings for the fourth quarter were $448 million on revenues of $4.6 billion.
Read the last sentence. Do you think they hurt? No they will find other ways of doing crap they shouldn’t do. These are giants who continue to get away with everything. This was just a tiny rap on the knuckles and they won’t feel any pain from it. However your pain is REAL and no one cares.