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Johnson & Johnson (JNJ) Unit To Pay $2.5 Billion To Settle Hip Implant Lawsuits



11/20/2013 6:48:00 AM

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(Reuters) - A unit of Johnson & Johnson has agreed to pay an estimated $2.5 billion to settle thousands of lawsuits from individuals allegedly injured by the company's artificial hip implants, the company announced Tuesday.

The settlement, announced during a hearing in federal court in Ohio on Tuesday, would compensate an estimated 8,000 patients who underwent surgery to replace their hip implants, according to a statement from Johnson & Johnson unit Depuy Orthopaedics Inc and lawyers for the plaintiffs.

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