DePuy ASR Hip Recall Lawsuits Take Toll on Johnson & Johnson’s Fourth-Quarter Earnings
Johnson & Johnson’s fourth-quarter earnings report reflects the impact of the DePuy ASR hip recall lawsuits and DePuy Pinnacle litigation. The company announced that it had spent approximately $800 million on costs related to the DePuy ASR hip recall and the mounting litigation. J&J reported total sales of $17.6 billion for the fourth quarter of 2012.
The company is currently facing more than 10,000 DePuy ASR lawsuits filed by patients who suffered complications or hip replacement failure from the hip implant. J&J issued the DePuy ASR hip recall in August 2010, after data showing that the hip replacements had unacceptably high failure rates.
J&J recalled 93,000 metal-on-metal hips worldwide, with 37,000 of the devices recalled in the U.S. The DePuy ASR hip system caused problems in patients such as pain, inflammation, infection, tissue damage, metallosis and hip replacement failure. The friction between the metal components of the DePuy ASR hip implant caused toxic metal ion to shed into the surrounding bloodstream and tissue, causing serious adverse effects.
DePuy ASR Hip Recall Has Financial Consequences for J&J
J&J said that it would increase reserves “due to anticipated product liability litigation and costs associated with” the ASR hip implants in a November filing with the U.S. Securities and Exchange Commission.
The first federal DePuy ASR bellwether trial is scheduled to begin in May 2013, with a second trial date set for July 2013. Over 7,000 DePuy ASR lawsuits are pending before Judge David A. Katz in the U.S. District Court, Northern District of Ohio. Additional lawsuits are underway in California and other state courts.
Over 50 million pages of documents have been produced in the federal litigation, and more than 50 witnesses have been deposed.
FDA Issues Metal-On-Metal Hip Implant Advisory
The DePuy ASR hip recall was one of the earliest indications of problems with metal-on-metal hip implants, which have been criticized by doctors and researchers for being linked to high risks of complications and elevated revision surgery rates. Recently, the U.S. Food and Drug Administration (FDA) issued an update on metal hip replacement safety guidelines, including a proposal to require clinical studies from hip manufacturers before hip replacements can go to market. Previously, many hip replacement devices (including the DePuy ASR and the metal-on-metal DePuy Pinnacle hip system) were allowed to go to market without safety testing through the 510(k) process.
Filing A DePuy ASR Hip Recall Lawsuit
If you received a DePuy ASR or an all-metal DePuy Pinnacle hip implant, consider filing a DePuy hip lawsuit to seek compensation for your injuries, including medical costs, lost income, pain and suffering, and more. The DePuy hip replacement lawyers at our firm believe that J&J and DePuy designed defective devices and failed to adequately warn patients about potential risks. To learn more, speak to a DePuy hip lawyer today by calling 1-877-779-1414.