Venture Capital Post Three bidders remain for Johnson & Johnson's diagnostic unit- sources Venture Capital Post Sources told Bloomberg that only three bidders remained for the Ortho Clinical Diagnostics business of Johnson & Johnson.
“There's a very lively public discussion going on about the safety of ingredients in personal care products,” said Susan Nettesheim, VP for product stewardship and toxicology for Johnson & Johnson. Lively discussion?
So, we note another week, another multi-billion dollar settlement and another loss of a civil lawsuit by huge drug, device and biotechnology company Johnson and Johnson The Articular Surface Replacement Metal-on-Metal ...
The settlement, touted as one of the biggest in pharma history
$2.5 billion in compensation to an estimated 8,000 patients who have been forced to have the all-metal artificial hip removed and replaced with another device.
DePuy officials have long insisted that they acted appropriately in recalling the device when they did. However, internal company documents disclosed during the trial of a patient lawsuit this year showed that DePuy officials were long aware that the hip had a flawed design and was failing prematurely at a high rate.
The DePuy Orthopaedics division of Johnson & Johnson estimated in an internal document in 2011 that the device would fail within five years in 40 percent of patients. Traditional artificial hips, which are made of metal and plastic, typically last 15 years or more before replacement.
In 2007, DePuy engineers tested the A.S.R.’s rate of wear to see if it matched the wear rate of another all-metal hip implant made by the company. It did not. 'The current results for A.S.R. do not meet the set acceptance criteria for this test,' that report stated. The same year, company officials began discussing ways to fix the problem, like redesigning the cup to eliminate the groove. But at the same time, it was actively marketing the A.S.R. to surgeons in the United States, who were implanting it into tens of thousands of patients. JnJ's statementhttp://www.investor.jnj.com/releasedetail.cfm?ReleaseID=808497
The US scenario contrasts gratingly with India's. About 4,500 patients had received the implants and there is only one known case against the company in a consumer court. Worse, about 94 per cent of the patients are believed to be in the dark about the dangers the implant poses or the global outcry against it.
While a US litigant stands to gain an average compensation of $2,500,000 (Rs 15.6cr) under the plan besides legal fees, the compensation issue has not even arisen in India. The co ..
The controversy has also led to a loss of confidence in doctors.
The Johnson and Johnson spokesperson refuted charges of "differential treatment". "In August 2010, at the time of the recall, DePuy informed the DCGI about the voluntary recall of the ASR hip system. We notified all joint replacement surgeons in India who had implanted the ASR hip system to contact their patients," said the spokesperson, adding that Puri Crawford, an independent claims processor, was appointed to assist ASR patients. "We are committed to addressing reasonable and customary costs ..
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