05:35 PM EDT, 10/02/2024 (MT Newswires) -- Becton, Dickinson and Company ( BDX ) said it reached an agreement to "resolve the vast majority of its existing hernia litigation."

The terms of the settlement agreement are confidential, the medical technology company said late Wednesday.

The aggregate amount payable is within the company's current product litigation reserve and will be paid out over a multi-year period. The agreement will not show in the income statement as an incremental charge.

"The settlement does not include any admission of liability or wrongdoing, and BD continues to dispute the allegations in these matters," the company said. It plans to "vigorously defend itself in cases not resolved through this agreement."