December 30th, 2010
How Is Johnson & Johnson’s Profits Doing After The DePuy Hip Replacement Lawsuit?
The recent hip replacement recall affected around 93, 000 individuals. The DePuy ASR XL Modular Acetabular Cup System and the DePuy ASR Hip Resurfacing System was the particularly recalled hip replacement implants. DePuy Orthopaedics are the manufacturers of these implants and is a subsidiary of Johnson & Johnson. The reason for the recall was based on the complaints coming from its users. These affected users were experiencing too much hip pains and have developed difficulties in moving. These users felt that their sufferings were so unfair that they need to file a DePuy lawsuit.
It is a fact that hip replacement implants are only good for a certain time and these particular hip implants from DePuy are said to last up to fifteen years. However, these two implants from DePuy have been malfunctioning despite using it for five years only. A revision surgery is even needed for some of its users. There really is a justification on the increasing lawsuits against DePuy.
Whenever we hear of a company or even a person facing a lawsuit, the immediate reaction would be to lose trust with them especially if this lawsuit is increasing every day. Now, as these lawsuits have been increasing, how is Johnson & Johnson’s profits doing after the DePuy hip replacement lawsuit?
Although Johnson & Johnson does not just rely on DePuy Orthopaedics for their profits, it has been found out that after these lawsuits were piling up, Johnson & Johnson’s sales were showing signs of declination. This decrease in sales does not only cover for the hip implants sale’s but also for Johnson & Johnson’s other products such as their contact lenses, their cancer drug, and other medicines. However, Johnson & Johnson does not blame this decreased on the lawsuits but on the current economic condition. The decreased in their sales is being blamed on the ongoing recession which has said to cause a change in the people’s spending habits. People’s financial difficulties are said to be the cause of people delaying to undergo some surgical procedures. Despite Johnson & Johnson’s absence of acknowledging the fact that their decreased in sales is caused by the issue of their hip replacement implants, it is really understandable caused of their low profits.