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Sientra settles Silimed lawsuit for $10M

Sientra, Inc. agreed to pay $10 million to settle a lawsuit involving Silimed-Indústria de Implantes Ltda.

The company will pay $9 million within 30 days and the remaining $1 million by July 2018. Sientra will also be required to pay up to a further $5 million to Silimed-Indústria under certain circumstances.

The settlement does not represent an admission of liability.

Silimed-Indústria had filed a lawsuit against the company in November 2016, alleging Sientra misappropriated its trade secrets to develop manufacturing capability of its own.

Silimed-Indústria is a contractor that was tasked with producing breast implant products for Sientra.