Report: Insurers could gain up to $1B in J&J hip settlement deal

Insurers also stand to gain plenty from Johnson & Johnson's ($JNJ) $2.5-billion-plus offer to settle 8,000 lawsuits involving faulty metal hip implants--an offer that is in jeopardy due to patient complaints. In addition to the patient settlement, the health care conglomerate will fork over as much as $1 billion to insurers who covered patients' costs of removing the now-recalled ASR implants, a lawyer involved in the agreement said in a letter obtained by Bloomberg. With that extra cost factored in, Johnson & Johnson's DePuy division, which sold the implants, could end up paying more than $4 billion to deal with all of the settlement's various pieces factored in, according to the article. Story

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