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Showing results for DePuy Synethes Sales, Inc.
...Before Alere, Mr Nawana spent more than 15 years at Johnson & Johnson, including time as president of its DePuy Synthes spine business....
...The company took unspecified litigation charges, against a backdrop of continuing legal actions including compensation demands from users of its DePuy ASR artificial hip....
...The company is also facing an onslaught of lawsuits related to faulty hip implants produced by its DePuy unit....
...The medical devices industry is estimated to generate annual sales of €72bn ($102bn) in Europe alone, from more than 11,000 companies providing 200,000 devices....
...J&J booked $271m of charges related to its DePuy ASR, a hip replacement which had to be recalled....
...Last year J&J took after-tax charges of $922m due to lawsuits related to its DePuy ASR replacement hip, which was recalled, and other product liabilities and litigation....
...RBC, which also upgraded the stock to “buy”, said management had been upbeat on aerospace sales in 2011 and reassuring about auto driveline demand....
...Global consumer sales were down 15 per cent in the quarter to $3.6bn....
...The companies would also be able to extract synergies from SG&A costs and central functions, as well as leveraging JNJ’s larger sales force to increase sales of Smith & Nephew’s strong hip and knee product...
...J&J admitted in 2007 that it believed non-US subsidiaries had made improper payments linked to medical device sales in two “small-market countries”....
...Smith & Nephew dropped 3.2 per cent to 532p after Johnson & Johnson, owner of DePuy Orthopaedics, posted weaker-than-expected quarterly sales....
...The case cast a pall over the entire orthopaedics industry, which includes implants and related products such as operating equipment and had sales last year of about $30bn....
...And it is a knee made by J&J’s DePuy, of course....
...Growth in J&J’s medical device business, including its Depuy hip and knee replacement and implant unit, offset the group’s lacklustre pharma business results....
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