J&J in $2.5 billion hip-device settlement
Johnson & Johnson said late Tuesday that it will pay $2.5 billion
to settle thousands of lawsuits brought by hip replacement patients who
accuse the company of selling faulty implants that led to injuries and
additional surgeries.The agreement presented in U.S. District Court in Toledo, Ohio, is one of the largest for the medical device industry. It resolves an estimated 8,000 cases of patients who had to have the company's metal ball-and-socket hip implant removed or replaced. J&J pulled the implant from the market in 2010 after data showed it failed sooner than older implants.
The deal provides roughly $250,000 per patient and covers those who had their implants removed or replaced before Aug. 31 this year. The company expects to make most of the payments to patients in 2014.
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