Mar. 23, 2011: J&J CEO Facing Another Year of Pay cuts; Amid Growing Legal Action, DePuy Reaching Out to Patients
Last week, we wrote that the president of DePuy Orthopaedics, maker of the recalled DePuy hip implants, is resigning to pursue other interests. David Floyd has been president of the Johnson & Johnson ,nit since 2007 and is stepping down at the end of this month. Now, Johnson & Johnson CEO, William Weldon is reportedly facing a nine-percent reduction in his total compensation for 2010, said the Journal Gazette, according to Becker’s Orthopedic and Spine.
Johnson & Johnson saw a drop in revenue in both 2009 and 2010 following an unprecedented number of product recalls. Weldon’s compensation package last year totaled $23.2 million; the prior year he received $25.6 million, noted Becker’s. Weldon’s package includes, said the Journal Gazette, salary, bonus, and other “rewards,” noting that the information was disclosed in a Securities and Exchange Commission (SEC) filing.
Meanwhile, the significantly high failure rate of the DePuy ASR XL Modular Acetabular Cup System and the DePuy ASR Hip Resurfacing System, led to a massive global recall late last year. The implant can fail to remain in place, which causes a variety of adverse reactions, including pain, ambulation problems, and the shedding of dangerous metal debris into patients’ bodies.
Now, according to the pharmaceutical advocacy firm U.S. Drug Watchdog “The makers of the recalled ASR DePuy hip implant have been writing recipients of this hip implant, and offering to pay their copays for the replacement of this hip implant—what an incredible insult…. In reality, recipients of the recalled ASR DePuy hip implant might be owed hundreds of thousands of dollars, or more, and we find this manufacturer’s letter campaign to be nothing short of reprehensible. Offering to pay a copay when the victim could be handicapped, or crippled for life?” quoted News Junky Journal.
If you have been implanted with one of these defective devices, you should immediately seek advice from a lawyer that is knowledgeable about the DePuy hip implant recall and the injuries associated with these hip implants. For a free consultation with such an attorney, complete the form to the right or call 212-566-1000. Based in New York City, Sullivan & Brill, LLP represents clients throughout the United States.

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