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Johnson & Johnson pays $3 billion for hip recall in 2011

Posted on January 25th, 2012 No Comments

Johnson & Johnson, owner of DePuy Orthopaedics, recently released a report on their finances in 2011.  According to the report, the DePuy hip recall and litigation related to the product cost the company $2.9 billion last year.

The company’s expenses related to the recalled DePuy ASR hip replacement included $336 million for the recall, $1 billion in net litigation settlements, and $1.2 billion in product liability costs.

As a result, Johnson & Johnson’s fourth quarter net-earnings were lower than usual at $218 million–a 88.7 percent decrease from the $2 million in net-earnings they made in the fourth quarter of 2010.

To learn more about the recall of DePuy’s ASR hip replacement, contact the DePuy hip recall lawyers of Williams Kherkher by calling 800-761-3187 today.

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