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

|By:, SA News Editor

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.