fres

Clips

1. Germany's Fresenius Medical Agrees to Pay $250 million to Settle Dispute

   | Nasdaq / Marketwatch

   By Natascha Divac
   
   
   Germany's Fresenius Medical Care said Thursday it agreed to pay $250 million to plaintiffs in the U.S. to settle a long-running dispute over product liability involving its dialysates GranuFlo and NaturaLyte.
2. Fresenius pays $250M to settle GranuFlo/NaturaLyte lawsuits

   Feb 18, 2016 | Seeking Alpha

   By Douglas House
   
   
   Fresenius Medical Care AG & Co. KGaA (NYSE:FMS) agrees to pay $250M to resolve U.S. litigation related to its GranuFlo and NaturaLyte products. Under the terms of the agreement, 97% of the plaintiffs must agree to the settlement by July to receive funding in August. Insurers will pay $220M (88%) of the total settlement amount.

Clips

1. Germany's Fresenius Medical Agrees to Pay $250 million to Settle Dispute

   | Nasdaq / Marketwatch

   By Natascha Divac

   FRANKFURT--Germany's Fresenius Medical Care said Thursday it agreed to pay $250 million to plaintiffs in the U.S. to settle a long-running dispute over product liability involving its dialysates GranuFlo and NaturaLyte.

   The world's largest provider of dialysis products was accused of not having adequately informed the public of the products' possible side effects.

   The company said it expects a pre-tax charge of $60 million from the settlement and other costs to finalize the matter. These costs will be reflected in its full-year 2015 results due on Feb. 24, but they aren't expected to affect the financial outlook.

   For 2015, Fresenius Medical expects to report revenues of approximately $16.7 billion. Excluding the charge net of tax, the 2015 net income attributable to shareholders should increase by approximately 2% over the same period a year earlier.

   The company's GranuFlo and NaturaLyte products remain on the market. "There has been no change in the composition of the product and it remains safe and effective when used and prescribed as directed," the company said.

   Link to article: http://www.nasdaq.com/article/germanys-fresenius-medical-agrees-to-pay-250-million-to-settle-dispute-20160218-00065#ixzz40X1T6VaD
   

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2. Fresenius pays $250M to settle GranuFlo/NaturaLyte lawsuits

   Feb 18, 2016 | Seeking Alpha

   By Douglas House

   Fresenius Medical Care AG & Co. KGaA (NYSE:FMS) agrees to pay $250M to resolve U.S. litigation related to its GranuFlo and NaturaLyte products. Under the terms of the agreement, 97% of the plaintiffs must agree to the settlement by July to receive funding in August. Insurers will pay $220M (88%) of the total settlement amount.

   The company intends to record a $60M charge to finalize the matter. The item will be reflected in its 2015 results that will be released on February 24.

   GranuFlo and NaturaLyte are dialysates (fluids used in dialysis that clean the blood). The FDA recalled them in March 2012 in order to revise prescribing instructions. According to the recall, the use of the products could lead to low blood pressure and cardiac arrhythmia, possibly leading up to cardiopulmonary arrest and death. The lawsuits (1,800+) began after it was discovered that Fresenius was aware of the risks and failed to inform healthcare providers and patients. A November 2011 internal company memo revealed that 900 patients experienced heart attacks in company clinics the previous year. Fresenius medical personnel concluded that patients with excessive levels of bicarbonate in their blood were six times more likely to experience cardiac arrest that those with normal levels. The memo linked GranuFlo use to increased bicarbonate levels and heart attacks.

   GranuFlo is a powdered compound that creates bicarbonate. NaturaLyte works in a similar fashion but is in liquid form. Both remain on the market in their original formulations.

   Link to article: http://seekingalpha.com/news/3117586-fresenius-pays-250m-settle-granuflo-naturalyte-lawsuits

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