J&J Is Willing to Pay $400 Million-Plus in Hip-Device Cases
- Company seeks end to Pinnacle hip suits before January trial
- J&J offering $125,000 on average per case, people familiar say
Photographer: Scott Eells/Bloomberg
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Johnson & Johnson is willing to pay more than $400 million to settle some of the thousands of consumers’ allegations that the company sold defective artificial hips and hid the health risks of the devices, people familiar with the negotiations said.
The world’s largest health-care products maker has settled, or is in the process of settling, about 3,300 of 10,000 lawsuits targeting its Pinnacle line of hip-replacement devices, a judge said in a Dec. 9 court filing.