WHAT JOHNSON & JOHNSON DOESN’T TELL THE GENERAL PUBLIC ABOUT PENDING LITIGATION

By Mark York (November 7, 2017)

 

 

 

 

 

 

A Report by Mass Tort Nexus

Recently filed with the Securities and Exchange Commission:

 “Johnson & Johnson 2017 3rd Quarter 10-Q Statement”

 PRODUCT LIABILITY LAWSUITS AGAINST JOHNSON & JOHNSON

Johnson & Johnson and certain of its subsidiaries are involved in numerous product liability claims and lawsuits involving multiple products. Plaintiffs in these cases seek substantial compensatory and punitive damages. While the Company believes it has substantial defenses, it is not feasible to predict the ultimate outcome of litigation. To date in 2017, Johnson & Johnson has been exposed to over $1.5 billion in verdict awards related to various legal matters filed against products manufactured by the company.

Primary Products:

The most significant cases include:

Medical Devices:  DePuy ASR™ XL Acetabular System and DePuy ASR™ Hip Resurfacing System; the PINNACLE® Acetabular Cup Hip Implant System; Ethicon TVM and other pelvic mesh products

Pharmaceutical Products: RISPERDAL®; XARELTO®; INVOKANA.

Personal Care Products: J&J powders containing talc, primarily JOHNSON’S Baby Powder and Shower to Shower Body Powder

 The Legal Numbers:

 As of October 1, 2017, the numbers for litigation in the United States against Johnson & Johnson for claims against pharmaceutical and medical device products are:  

DePuy ASR™ XL Acetabular System and DePuy ASR™ Hip Resurfacing System – 2,000 claims

PINNACLE® Acetabular Cup Hip System – 9,900  claims

Transvaginal Mesh and Pelvic Mesh – 54,300 claims

RISPERDAL– 13,900 claims

XARELTO – 21, 400 claims  

J&J Baby Powder – 5,500 claims

INVOKANA – 1,100 claims

General Legal Disclaimer:

The Company has established accruals for product liability claims and lawsuits in compliance with ASC 450-20 based on currently available information, which in some cases may be limited. The Company accrues an estimate of the legal defense costs needed to defend each matter when those costs are probable and can be reasonably estimated. For certain of these matters, the Company has accrued additional amounts such as estimated costs associated with settlements, damages and other losses. To the extent adverse verdicts have been rendered against the Company, the Company does not record an accrual until a loss is determined to be probable and can be reasonably estimated. Product liability accruals can represent projected product liability for thousands of claims around the world, each in different litigation environments and with different fact patterns. Changes to the accruals may be required in the future as additional information becomes available.


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