Citing the effects of its subsidiary DePuy Orthopaedics Inc. recall of its DePUY ASR XL hip replacement as well as its continuing woes in the pharmaceutical industry, J&J earnings are off nearly 20% in the second quarter. Despite the drop, Johnson & Johnson still reported net income of $2.8 billion.
DePuy’s ASR XL hip is not the only one facing mounting lawsuits and FDA scrutiny. DePuy’s Pinnacle hip, also a metal-on-metal hip device is also facing lawsuits and an FDA review. The metal-on-metal hips, originally designed to last longer and provide more flexibility, have higher than acceptable failure rates as well as the potential for causing metallosis, a serious medical condition where the hip patient suffers from metal poisoning.