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JNJ to pay between $500M and $1B to insurers in hip implant case: Bloomberg

  • In addition to the $2.47B it will pay to settle some 8K lawsuits tied to recalled hip implants, Johnson & Johnson (JNJ -0.1%will pay between $500M to $1B in order to "reimburse insurers for some costs of hip-removal surgeries known as revisions," Bloomberg says, citing a confidential communication.
  • The total cost to resolve the DePuy claims is expected to exceed $4B, although one University of Richmond professor cited by Bloomberg thinks the total could be far higher: "When everything is all said and done, JNJ may wind up paying double that $4B to resolve all current and future litigation over those devices."
  • See also: JNJ confirms $2.47B settlement, JNJ to settle artificial hip lawsuits
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