BD (Becton, Dickinson and Company) announced on October 2, 2024, that it has reached an agreement to resolve the vast majority of its existing hernia litigation. This settlement includes cases in both the Rhode Island consolidated litigation and the federal multidistrict litigation in Ohio.
The aggregate amount payable under this settlement is within the company's current product litigation reserve for this matter. The payments will be disbursed over a multi-year period, and the agreement will not result in an incremental charge to BD's consolidated income statement.
BD believes this agreement is in the best interest of all parties, as it eliminates uncertainty for stakeholders related to the settled cases. The company stated that the multi-year payment structure was already factored into its cash flow planning and capital allocation strategy.
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