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Johnson & Johnson to offer $2.5 billion hip device settlement

The New York Times, November 20, 2013
Johnson & Johnson and lawyers for patients injured by a flawed hip implant announced a multibillion-dollar deal on Tuesday to settle thousands of lawsuits, but it was not clear whether the deal would satisfy enough claimants. Under the agreement, the medical products giant would pay nearly $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. Separately, the company has agreed to pay all medical costs related to such procedures, expenses that could raise the deal's cost to Johnson & Johnson to $3 billion, people familiar with the proposal said.