Wednesday, November 13, 2013

Depuy Reportedly Ready To Pay $4 Billion Dollar Settlement of Defective Hip Claims

Bloomberg is reporting that Depuy will agree to a $4 Billion dollar settlement in the recalled ASR hip litigation.  If accurate, this will be one the largest product liability settlements ever.

Bloomberg says that the "average" claim will be $300,000.  The New York Times is reporting "$350,000.  There are several unknowns in that figure.  First, does that include co-pays, deductibles, and medical subrogation paid by Depuy already to some claimants?  Also, since that is an "average" number, it would seem to include people who had bilateral failures that had to be revised and whose claims arguably worth twice that amount.  There are also those people who are re-revisions in that the revision failed.

In the end, I think you will see a number closer to $250,000.

For months, the leadership of the case and the court has been trying to keep a lid on the terms of the settlement that were being negotiated but it appears as if the lid has been blown off now.