Navigation Links
CNJ Enterprises: DePuy ASR Hip Implant Recall Large Contributor to Johnson & Johnson's $2.9 Bil Charge for 4th Quarter 2011
Date:2/27/2012

NEW YORK, Feb. 27, 2012 /PRNewswire/ -- Investors of Johnson & Johnson thought the $912mm charge in the 4th quarter of 2010 was a large number for the DePuy ASR Hip litigation; however the recent 4th quarter charge of $2.9bil partly attributed, according to CNJ Enterprises, to the DePuy Recall is 3 times last year's amount. 

This has led many product liability experts to believe that the DePuy litigation could top Avandia as the top "class action" litigation for 2011.  Industry experts are pointing towards the Sulzer Hip Recall of 2001 in which the Swiss Medical Device maker's recall placed in 31,000 patients settled for $1Bil.  The DePuy Recall is 3 times the size of Sulzer.  And with J&J executives recently deposed as to "what they knew", many believe that J&J's total exposure could top $3bil.  Apparently, this was a major factor in J&J's CEO, Bill Weldon, deciding to step down.    

One indication of the potential size of the settlement value for the DePuy victims is based on the lawsuit settlement funding industry's view of DePuy.   Legal-Bay LLC -a leader in lawsuit funding for both Avandia and DePuy- recently announced that they have secured $2.5mm in financing just for DePuy pre-settlement funding clients.    

Patty Kirby, Director of Client Relations at Legal-Bay commented, "Our research has indicated the average settlement amounts of the DePuy cases will top the Sulzer $200K average; cases in which the patient had the implant and revision surgery, could have values close to $1mm each.  Based on this, we have been funding our DePuy clients with advances up to $50K to pay bills until they get their ultimate settlement."

Legal-Bay was accurate in their forecast in the Avandia litigation as well, when they predicted GlaxoSmithKline would settle for over $2bil.  Recently, Glaxo settled 25,000 claims related to Avandia through mediation for what is being reported as close to $3bil.  However, victims will not get their money for months.        

Legal-Bay's website: lawsuitssettlementfunding.com and their toll free hotline 877.571.0405 have been busy taken lawsuit loan applications for the DePuy and Avandia litigation.  If history proves right this does not bode well for J&J on DePuy. 

Contact:
CNJ Enterprises- Julie Jansen, Cnjenterprisesllc@gmail.com
Legal-Bay- Patty Kirby,info@legal-bay.com, +1-877-571-0405

 

 

 


'/>"/>
SOURCE CNJ Enterprises LLC
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Actress Jane Kaczmarek Teams Up With DePuy Orthopaedics to Launch Osteoarthritis Awareness and Education Program
2. DePuy ASR Hip Resurfacing System Failure Leads to Lawsuit, According to the Law Offices of John David Hart
3. Recalled DePuy ASR Hip Implant Lawsuits Filed By John David Hart
4. Recalled DePuy Hip Implant Lawsuits Filed in Fort Worth, Texas
5. Bilateral DePuy Hip Implant Failures Lead to Lawsuit
6. Failure Rate of DePuy ASR XL Hip Implant Rising
7. Granbury, Texas Woman Files Suit for Failed DePuy Hip Device
8. Law Offices of John David Hart: DePuy Recalled Hip Device Lawsuit Filed by Houston Woman
9. DePuy Recalled Hip Device Lawsuit Filed in Austin, Texas
10. DePuy Recalled Hip Device Lawsuit Filed in San Antonio, Texas
11. DePuy Recalled Hip Device Lawsuit Filed in East Texas
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... 2016  Despite the recent explosion in Big Data, ... to embrace Big Data due to the inherent costs ... side, organizations have begun looking to Big Data as ... adherence. --> --> ... LLC, Big Data has started informing many decisions. In ...
(Date:2/5/2016)... ANGELES , Feb. 5, 2016  Redwood Scientific ... a new product designed to help women balance their ... strip delivery technology. Jason Cardiff , ... will be able to help the millions of women ... from the effects of imbalanced hormones. Our research and ...
(Date:2/5/2016)... 5, 2016  ivWatch, a medical devices company, is one ... granted by Governor Terry McAuliffe,s office. ivWatch will ... 25th at an event to be held at the Science ... honors professionals and business that have made significant contributions to ... - http://photos.prnewswire.com/prnh/20160205/330117LOGO ...
Breaking Medicine Technology:
(Date:2/6/2016)... , ... February 06, 2016 , ... Shark Finds ... announce the launch of a new DRTV campaign with Belly Bands. , Having a ... everything from sprays to puppy pads and find nothing works, get Belly Bands, ...
(Date:2/5/2016)... ... , ... Steven Tonkinson, 36, of Coconut Grove, Florida, ran the Miami Marathon ... 2003. This year, he ran all 26.2 miles with a green 25-pound ShelterBox strapped ... Heat. , This Sunday, while many are watching the Superbowl, Steven Tonkinson will strap ...
(Date:2/5/2016)... ... February 05, 2016 , ... VeloReality President ... next generation LYNX VR Indoor Trainer with multi-rider capability to an enthusiastic audience ... not only reduce the weight of the unit, they also enhance the rider's ...
(Date:2/5/2016)... , ... February 05, 2016 , ... ... setting the stage for new clinical and scientific initiatives have all marked the ... she was appointed President and CEO of the nation’s oldest cancer center, Candace ...
(Date:2/5/2016)... Miami, FL (PRWEB) , ... February 05, 2016 ... ... of the largest domestic franchisees of Popeyes Louisiana Kitchen restaurants, launched the 14th ... and awareness for kids and adults with muscular dystrophy, ALS and related diseases ...
Breaking Medicine News(10 mins):