Friday, October 19, 2012

DePuy ASR Recall Continues to Weigh on Johnson & Johnson’s Bottom Line

Johnson & Johnson’s 3rd-Quarter profits fall, as the company reports charges and other special items totaling $553 million relating to, among other things, costs associated with the DePuy ASR recall, Bernstein Liebhard LLP Reports

New York, New York (PRWEB) October 16, 2012

Johnson & Johnson, the parent company of DePuy Orthopaedics, continues to bear the costs of its August 2010 DePuy ASR recall, reports Bernstein Liebhard, LLP. According to Johnson & Johnson’s most recent quarterly earnings report, third-quarter profits were off 7.3%, mainly due to costs related to acquisitions and research. In the latest quarter, Johnson & Johnson said it recorded after-tax special items of $553 million that included, among other things, costs related to the DePuy ASR hip replacement recall. The company currently faces thousands of DePuy ASR recall lawsuits stemming from the 2010 recall, most of which are pending in In re: DePuy Orthopaedics, Inc. ASR Hip Implant Products Liability Litigation (“MDL No. 2197”), currently underway in U.S. District Court, Northern District of Ohio.*

“Two years later, the fact that Johnson & Johnson continues to pay a substantial price for the DePuy ASR recall illustrates just how widespread problems with this product really are,” says Bernstein Liebhard LLP, a nationwide law firm that represents victims of defective drugs and medical devices, including DePuy ASR hip implants. The firm continues to investigate potential DePuy ASR hip recall lawsuits on behalf of individuals who experienced premature failure of their hip implant, metallosis, or other injuries allegedly caused by one of these devices.

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