Seeking Alpha

J&J mulls $3B+ settlement over hip device

  • Johnson & Johnson (JNJ -0.2%) has reportedly discussed paying over $3B to settle up to 11,500 U.S. lawsuits over its recalled ASR hip implants.
  • J&J has already spent $993M on medical costs and telling patients and surgeons about the recall. The company has also suffered an $8.3M verdict in one trial but won another one.
  • The result of seven product-liability trials between September and January would affect any deal.
  • The chromium and cobalt implants have been blamed for pain, metal debris and replacement surgeries.
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