Johnson & Johnson may pay as much as $1 billion to insurers who covered the medical costs of removing its recalled hip implants under a settlement announced last week, according to a lawyer involved in the accord.
A New Jersey judge warned of several “rogue websites” by lawyers seeking to take advantage of Johnson & Johnson’s agreement to pay at least $2.47 billion to settle thousands of lawsuits over its recalled hip implants.
Johnson & Johnson agreed to pay at least $2.47 billion to settle thousands of lawsuits over its recalled hip implants, lawyers for the company and patients told a judge in outlining an accord that may be worth more than $4 billion.
Johnson & Johnson will formally announce on Nov. 19 a settlement of more than $4 billion aimed at resolving thousands of lawsuits over its recalled hip implants, three people familiar with the matter said.
Johnson & Johnson, the world’s biggest seller of health-care products, has discussed paying more than $3 billion to settle lawsuits over its recalled hip implants, according to five people familiar with the matter.
Johnson & Johnson, which is fighting more than 10,000 lawsuits over its recalled hip implants, is negotiating a potential settlement with patients that may eventually total more than $2 billion, according to five people familiar with the matter.
One year after Johnson & Johnson pulled 93,000 metal hip implants from the market, the company internally estimated that 37 percent of the devices would fail within 4.6 years, according to newly unsealed court records.
Recipients of Johnson & Johnson hip implants recalled by the company were improperly solicited as clients by an Atlanta law firm using confidential patient data, according to lawyers defending a suit against a J&J distributor.