Companies Facing Biomet Hip Lawsuit, Wright Conserve Hip Lawsuit Filings Report Sales Growth Despite Mounting Litigation
Some metal hip manufacturers may be reporting modest earnings results, but those numbers do not speak to the staff layoffs and legal fees attached to last year’s Stryker recall and the cost to defend the growing number of Biomet hip replacement lawsuits and Wright Conserve hip lawsuit claims that have been filed in the U.S.
Wright Conserve Hip Lawsuits Continue to Be Filed in Federal Litigation
According to reports, the makers of the Biomet M2a Magnum hip replacement announced a 6 percent growth in sales over 2012, but also announced plans to eliminate 230 workers from its Switzerland manufacturing facility by next summer. As of July, nearly 500 federal Biomet hip replacement lawsuits had been filed against the British manufacturer in the U.S. District Court, Northern District of Indiana.
Wright Medical Technology Inc., the manufacturer of the Wright Conserve, Conserve Plus and Profemur Z implants, which are now at the center of mounting litigation, seems to be in a similar situation. Although the company reported sales of $60.6 million for its second quarter, hip sales fell 18.4 percent for Wright, which is planning to sell its OrthoRecon unit to $290 million to MicroPort Medical B.V. As of September 11th, more than 73 Wright Conserve hip replacement lawsuits were pending in a federal litigation underway in the U.S. District Court, Northern District of Georgia. At the beginning of the summer, court records indicate that just 40 had been filed in the proceeding.
Stryker Recall Costs Manufacturer Millions in Related Charge
In the aftermath of its Rejuvenate and ABG II hip implant recall, Stryker Orthopaedics recently reported a 34 percent decline in sales compared to the second quarter of 2012. This drop is owed in part to a $210 million charge related to the Stryker recall issued on July 6, 2012.
Right now, at least 380 lawsuits over the company’s recalled metal hip replacements are now pending in a multicounty litigation established in New Jersey’s Bergen County Superior Court. Plaintiffs involves in these cases allege pain, swelling, metallosis and other injuries caused by premature failure of the hip, which are caused by the fretting and corrosion of its metal components and may require revision surgery to correct. The lawyers at Bernstein Liebhard LLP are actively filing Stryker recall cases in this proceeding. As of October 2013, some 290 claims had been filed in a federal litigation in the U.S. District Court, District of Minnesota as well.
Were You Affected by the Stryker Recall? Considering a Biomet Hip Replacement Lawsuit? Call Us Today.
Contact an attorney at Bernstein Liebhard LLP to learn how to file a case alleging injuries caused by the Wright Conserve hip replacement, Biomet M2a Magnum device or the Stryker Rejuvenate/ABG II modular-neck hip stems. The Firm can be reached at (877) 779-1414.