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:6/24/2016)...  Arkis BioSciences, a leading innovator in the ... cerebrospinal fluid treatments, today announced it has secured ... led by Innova Memphis, followed by Angel Capital ... Arkis, new financing will accelerate the commercialization of ... of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... 23, 2016 Research and Markets has ... - Forecast to 2022" report to their offering. ... for the patients with kidney failure, it replaces the function ... the patient,s blood and thus the treatment helps to keep ... in balance. Increasing number of ESRD patients ...
(Date:6/23/2016)... 23, 2016 Research and Markets ... Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), Inorganic ... Coating, Parenteral) - Global Forecast to 2021" report ... The global pharmaceutical excipients market is projected to ... of 6.1% in the forecast period 2016 to 2021. ...
Breaking Medicine Technology:
(Date:6/27/2016)... , ... June 27, 2016 , ... ... edge technology to revolutionize the emergency ambulance transport experience for the millions of ... of how Uber has disrupted the taxi industry through the use of technology. ...
(Date:6/26/2016)... , ... June 26, 2016 , ... Pixel Film Studios ... X. , "Film editors can give their videos a whole new perspective by using ... - CEO of Pixel Film Studios. , ProSlice Levels contains over 30 Different ...
(Date:6/25/2016)... D.C. (PRWEB) , ... June 25, 2016 , ... ... discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, ... their work on several important health care topics including advance care planning, healthcare ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room , the ... Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. , “We ... new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice ...
(Date:6/25/2016)... ... ... Conventional wisdom preaches the benefits of moderation, whether it’s a matter of indulgence ... high can result in disappointment, perhaps even self-loathing. However, those who set the bar ... from PsychTests.com reveals that behind the tendency to set low expectations is ...
Breaking Medicine News(10 mins):