Bayer settles 90% of Essure claims for $1.6B

Bayer (ETR:BAYN) announced Thursday that settled approximately 90% of U.S. claims involving women alleging injuries related to its Essure device.

Leverkusen, Germany-based Bayer reached agreements with plaintiff law firms on about 90% of the nearly 39,000 filed and unfiled U.S. Essure claims from women who allege device-related injuries, according to a news release. Settlements include all jurisdictions with significant volumes of Essure cases, and the company will pay approximately $1.6 billion to resolve the claims.