Sunday, October 21, 2012
Stryker Rejuvenate Recall Weighs on 3rd Quarter Earnings
New York, New York (PRWEB) October 20, 2012
Stryker Corp. has reported disappointing third quarter sales, including a hit to its hip implant business resulting in part from the recent Stryker Rejuvenate recall, Bernstein Liebhard LLP reports. According to a report from Reuters, Stryker said sales of reconstructive joints, including hips and knees, fell 1.1% overall in the third quarter.* During an October 17th conference call to discuss earnings, the company acknowledged that an approximate 2% increase in hip implant sales reflected, among other things, a “modest” hit from the recent Stryker hip recall.**
“In light of the fact that thousands of these implants were sold prior to the Stryker hip recall, it’s not surprising the company is already starting to see some impact on its bottom line. A number of plaintiffs have already filed Stryker Rejuvenate lawsuits since the recall, and we expect that trend will continue in the coming months,” said Bernstein Liebhard LLP, a nationwide law firm that represents the victims of defective drugs and medical devices, including Stryker hip implants. The firm continues to investigate Stryker Rejuvenate lawsuits on behalf of individuals who experienced premature failure of their hip implant, metallosis, or other injuries allegedly caused by one of these devices.
Stryker Rejuvenate Recall Stryker recalled its Rejuvenate and AGBII modular neck-stems on July 6, 2012, due to a potential for fretting and corrosion at the modular-neck junction. Stryker warned in its recall notice that patients with the Rejuvenate or AGB II hip implant components may develop adverse local tissue reactions that could manifest with symptoms of pain and/or swelling. According to the company, some 20,000 of the affected implants had been sold prior to the Stryker hip recall.***
According to a recent report from NorthJersey.com, at least eight plaintiffs have filed suit in New Jersey Superior Court, Bergen County, alleging Stryker negligently sold the Rejuvenate hip stem. The plaintiffs claim to have suffered metal poisoning, pseudo tumors, and infections, which led to revision surgery.****
Posted by Connie at 5:51 PM