Company: PRGO
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001585364-25-000122
Chunk: 247

Company: PERRIGO Co plc
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 15
Chunk 247
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2022, the case was reassigned to a newly-appointed judge. After the settlement of the U.S. case in New York federal court, Perrigo's counsel informed the Israeli Court of the final approval of the settlement of the U.S. case. The parties then sought further stays of the case while they attempted mediation, which the Court granted. In April 2023, the parties reported to the Court that the mediation had led to a preliminary agreement on settlement. The parties submitted settlement papers, without any concession of liability or wrongdoing by the defendants, to the Court on November 17, 2023. On June 5, 2024, the Court approved the settlement, which was funded by insurance during the quarter ended September 28, 2024. The Court in Israel oversaw distribution of the funds during 2024-2025 to the class members in the Baton case, which was completed in June 2025. At that point, under Israel procedures, this case ended.Other MattersTalcum PowderThe Company has been named, together with other manufacturers, in product liability lawsuits in a variety of state courts alleging that the use of body powder products containing talcum powder causes mesothelioma and lung cancer due to the presence of asbestos. All but one of these cases involve legacy talcum powder products that have not been manufactured by the Company since 1999. One of the pending actions involves a current prescription product that contains talc as an excipient. As of June 28, 2025, the Company has been named in approximately 205 individual lawsuits seeking compensatory and punitive damages. The Company has several defenses and continues to vigorously defend these lawsuits as well as explore various means of expeditiously resolving these claims. Trials for these cases are currently scheduled throughout 2025 and 2026. There are currently over 70 trials set for these cases in the remainder of 2025. We expect that a substantial majority of these trial dates will be postponed. Two cases are currently set for trial in Alameda County, California in September 2025. It is expected that trials for these two cases begin in September or October 2025.RanitidineAfter regulatory bodies announced worldwide that ranitidine may potentially contain N-nitrosodimethylamine ("NDMA"), the Company promptly began testing its externally sourced ranitidine Active Pharmaceutical Ingredients ("API") and ranitidine-based products. On October 8, 2019, the Company halted shipments of the product based upon preliminary results and on