Lawsuits cause J&J to open its checkbook

Share this article:

Johnson & Johnson is set to write out some checks: the Wall Street Journal reports that the company has agreed to pay at least $2.5 billion to settle lawsuits related to the Articular Surface Replacement hips made by subsidiary DePuy. Last week's rumors put the payout at around $4 billion.

The WSJ says the $2.5 billion would cover around 8,000 patients and would amount to around $250,000 in surgery costs, in addition to setting up a fund for what the Journal says qualify as extraordinary injuries, such as strokes, and heart attacks.

Bloomberg reported Monday that J&J is also shelling out $11 million in a lawsuit that says the company's seizure medication Topamax caused birth defects. Bloomberg notes that 133 similar cases are pending in Philadelphia. These lawsuits allege that the drugmaker failed to alert women to potential risks.

The FDA issued a notice in 2011 saying that it received data showing a correlation between the drug and children born with cleft palates.

Share this article:

Email Newsletters

More in Business Briefs

Penn and Teller give take on vaccines

The Las Vegas twosome give the anti-vaccination movement their signature treatment.

GSK allegations build in Jordan and Lebanon

GlaxoSmithKline says it is investigating allegations of employee misconduct. The company said in a statement that the allegations have numbers "very similar to those reported by other companies in our sector."

Generic Celebrex is coming

Pfizer and Teva's settlement puts generic Celebrex on the market by December.