Monday, February 23, 2015

J&J to Pay as Much as $420 Million More in ASR Hip Accord - Bloomberg Business

J&J to Pay as Much as $420 Million More in ASR Hip Accord - Bloomberg Business:

by Jef Feeley

(Bloomberg) -- Johnson & Johnson agreed to pay as much as $420 million more to resolve lawsuits over recalled hip implants that were excluded in 2013 from a $2.5 billion settlement of claims that the devices were defective and caused metal poisoning in patients.
J&J’s DePuy unit agreed to push back the deadline for recipients of the company’s ASR implants to file settlement claims to Jan. 31 of this year, according to a filing Friday in federal court in Toledo, Ohio. That will allow as many as 1,400 patients who’ve had ASR hips removed since 2013 to seek about $300,000 each in compensation under the original 2013 accord.
“By extending the benefits of the previously announced U.S. Settlement Program to an additional group of ASR patients, we are again providing fair compensation” to artificial hip recipients “without the delay and uncertainty of protracted litigation,” Mindy Tinsley, a DePuy spokeswoman, said in an e-mail Friday.
“J&J has seen the handwriting on the wall about these hip cases and they’ve figured it out: It’s better to settle all of these suits and get this debacle behind them,” said Erik Gordon, a professor at the University of Michigan’s business and law schools who teaches about class-action settlements.

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