Stryker Takes $161M Charge Against Hip Implant Lawsuits
Stryker Corp., the manufacturer of the recalled Rejuvenate and ABG II Modular Neck hip systems, announced this month that it is taking a $161 million dollar charge against its 2nd quarter earnings relating to the recall. Despite taking this charge, Stryker still reported making a $215 million dollar profit in the 2nd quarter on revenue of $2.35 billion.
The FDA and Stryker announced a recall of the Stryker Rejuvenate and ABG II hip implants in July of 2012. The metal-on-metal implants were deteriorating inside the patient’s bodies, releasing dangerous levels of cobalt and chromium. Because of the unusual design of the Rejuvenate & ABG II Modular Neck hip systems, they were particularly subject to corrosion and fretting, releasing metal ions into the hip recipient, and causing chronic pain, inflammation, infection, injury to the tissue and bone, tissue death, painful swelling, tumors, and metallosis. Some patients even suffered fractures when the devices failed completely.
Stryker placed its Rejuvenate and ABG II hip replacements on the market by utilizing the FDA’s 501(k) clearance process, under which Stryker vouched to the FDA that the devices were “substantially equivalent” to products already on the market. By using the 501(k) process Stryker avoided the time and expense of conducting clinical trials on their new metal on metal hips. The consequences have been severe for patients who received these Stryker implants.
As a result of the defectively designed Stryker hip implants, many patients have had to undergo complete revision surgery, meaning that they had to have the defective implant removed and a second artificial hip implanted, This would require a second (and sometimes third) painful surgery and a second long recovery period.
If you received a Stryker hip implant you may be eligible to file a claim for the pain, suffering, physical injuries, medical expenses from replacement, and other compensation for being injured by a defective hip implant. Thornton Law Firm has assembled a team of product liability lawyers lead by Marilyn McGoldrick, Esq. to pursue claims against Stryker and other manufacturers and distributors of defective medical devices. For a free, confidential case review, please tell us your story here or call our Stryker hip lawyers at 1-888-491-9726. There are short time limits for all legal claims; do not delay seeking legal advice.