Johnson & Johnson willing to pay $400M+ in hip lawsuit settlement: 5 things to know

Mackenzie Garrity -   Print  |

Johnson & Johnson agreed to pay more than $400 million to settle allegations the company sold defective artificial hips, a source familiar with the negotiations reported to Bloomberg.

Here are five things to know:

1. Currently, the device company is in the processes of settling 3,300 of the 10,000 lawsuits against its Pinnacle hip replacement products.

2. Johnson & Johnson settled on paying $125,000 per case to resolve one-third of the cases. At $125,000 per 3,300 cases, the company could spend $413 million.

3. A source familiar with the case said Johnson & Johnson is looking to resolve the remaining Pinnacle cases. Trials are expected to begin in January 2019.

4. These are the first settlements of a seven-year legal battle. Patients are arguing on top of the defective hip implants Johnson & Johnson also hid health risks of the devices.

5. Johnson & Johnson denied the claims and said it developed and marketed the hip implants responsibly. Over the past two years, the company has been ordered to pay $1.7 billion in damages.

More articles on devices and implants:
EDGe Surgical secures $4M in financing — 4 insights
Medtronic earns corporate citizenship award: 4 key points

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