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DePuy Orthopaedics in settlement worth $2.5 billion

Staff writer ▼ | November 21, 2013
DePuy Orthopaedics and the Court-appointed committee of lawyers representing ASR Hip System plaintiffs announced a settlement to compensate eligible ASR patients in the United States who had surgery to replace their ASR hip, known as revision surgery, as of August 31, 2013.
DePuy Orthopaedics
DePuy OrthopaedicsDePuy Orthopaedics and the Court-appointed committee of lawyers representing ASR Hip System plaintiffs announced a settlement to compensate eligible ASR patients in the United States who had surgery to replace their ASR hip, known as revision surgery, as of August 31, 2013.


"We are committed to the well-being of ASR patients, as demonstrated by the voluntary recall and the program providing support for recall-related care," said Andrew Ekdahl, Worldwide President, DePuy Synthes Joint Reconstruction. DePuy Orthopaedics, Inc. is part of DePuy Synthes Companies of Johnson & Johnson.

"The U.S. settlement program provides compensation for eligible patients without the delay and uncertainty of protracted litigation. DePuy remains committed to our purpose of advancing innovative treatment options to serve those who need joint replacement surgery."

The U.S. settlement is valued at approximately $2.5 billion, based on an estimate of 8,000 patients participating in the program. The amount of the settlement program has been included as part of previously accrued amounts, and no additional charge to the company’s earnings is being recorded in connection with this settlement.

Any remaining related established product liability reserve is based on currently available information and changes to the reserve may be required in the future as additional information becomes available. The majority of the payments related to this settlement are projected to occur during 2014 from currently available cash.


 

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