Free Case Evaluation
Connect
With Us

J&J: Talk of Mesh Litigation Absent from 2 Q Report

j&j LOGONotably absent from the Johnson & Johnson Second Quarter report is any discussion of pelvic mesh litigation, its cost and its specific toll on the company.

Speaking to a group of investors Tuesday, CEO Alex Gorsky did not mention pelvic mesh, transvaginal, urology, gynecology, or of the 35,000 or so product liability cases the company is facing.

“First, our commitment to ensuring our products meet the highest quality standards is of course non-negotiable.”~Alex Gorsky, CEO J&J 

What was notable is that “customer sales were 17.8 billion in the second quarter of 2015 down 8.8 percent when compared to last year.   U.S. sales were down 2.4%. Medical device sales of 6.4 billion were down 4.7%, with US sales down 5.8%,” according to the 8-K report filed with the SEC. The medical device division of J&J is one of its strongest.

A Q and A session with investors was a soft sell to an appreciative audience with no mention of any litigation including, DePuy metal hips, Risperdal or tainted Tylenol.  The company did say its Fort Washington, Pa. plant, closed by the FDA five years ago because of debris floating in children’s Tylenol, just passed a recent FDA inspection. There is no timetable on its opening.

Alex Gorsky, Nov. 2011

Alex Gorsky, Nov. 2011

According to Alex Gorsky:

“Now, just to summarize, Johnson & Johnson is a company that’s built a remarkable legacy and has a very exciting future. Healthcare though remains one of every society’s greatest challenges and nothing affects people more personally or affects communities and nations more directly. Our business is strong and you can see that we are continuing to make considerable investments in innovation and have a robust pipeline of truly transformative products to ultimately benefit patients and that we are taking actions to strengthen our leadership positions in areas in which we compete.”

Legal Proceedings

Investors could gain great insight about the ongoing litigation from a 10-Q quarterly report issued March 29, 2015.  Under LEGAL PROCEEDINGS, the company admits certain subsidiaries are involved in various lawsuits “that arise from time to time in the ordinary course of their business.”

It refers to DePuy hip replacement system product liability litigation and the lower sales of women’s health and urology products due primarily to the company decision to stop selling certain pelvic meshes.

And while claims for personal injury against Ethicon and J&J were on the increase, so were claims in Australia, Belgium, Canada, England, Israel, Italy, the Netherlands, Scotland and Venezuela, “all seeking damages from alleged injury resulting from Ethicon’s pelvic mesh devices.”

“The Company has established an accrual with respect to product liability litigation associated with Ethicon’s pelvic mesh products. Changes to this accrual may be required in the future as additional information becomes available.” ~ 10-Q SEC Report on J&J March, 29, 2015

Neither filing mentions the number of these claims but a Mesh News Desk story from last year found a J&J SEC 10-Q report putting the number at 33,000 such pending product liability cases at a time there were 22,000 cases filed in the West Virginia court.

Ultimately pressure from shareholders could move along J&J’s decision to settle these outstanding claims, now standing at 27,552 (as of July 15) in federal court in WV.  #

LEARN MORE:

Mesh News Desk 100-Thousand Mesh Defective Product Cases Now Filed as Mesh Makers Assure Shareholders, September 28, 2014

http://meshmedicaldevicenewsdesk.com/100-thousand-mesh-defective-product-cases-now-filed-as-mesh-makers-assure-shareholders

 

J&J 8-K report July 14, 2015, SEC

http://www.investor.jnj.com/secfiling.cfm?filingID=200406-15-42&CIK=200406

 

10-Q quarterly report March 29, 2015

http://www.investor.jnj.com/secfiling.cfm?filingID=200406-15-19&CIK=200406

 

J&J Second Quarter 2015 Seeking Alpha- Alex Gorsky CEO J&J talks to investors

http://seekingalpha.com/article/3325645-johnson-and-johnsons-jnj-ceo-alex-gorsky-discusses-q2-2015-results-earnings-call-transcript?auth_param=96a8n:1aqb42j:f30db2ec37404edded46814a052c6f49&uprof=54

 

J&J SEC filings

http://www.investor.jnj.com/sec.cfm?view=all

27 Comments

  1. Jbroken says:

    ABSOLUTE PHONIES JUST PAY US TO GET HELP PLEASE! PEOPLE BE AWARE OF THEIR PRODUCTS! THEY DONT CARE! ONLY MONEY, MONEY. SO MONEY, MONEY FOR US AND APOLOGIES!!! MY FEELINGS!

  2. Ronald James says:

    I think all women and their families should gather together in front of the wall street exchange and burst in with protest signs again J&J. I bet that would get the attention of the board. Let’s rally people.

  3. anna says:

    I was granted bankruptcy a year before my case was file. Does this information tobe given to my lawyer?

    • Jane Akre says:

      I would never lie to my law firm….. just my opinion as a non lawyer.

    • Bejah B says:

      This is information that should be given to your attorney. It may also mske it more difficult or impossible for you to get a settlement advance should you need one at some point. Not certain. But if you are awarded a settlement there may be complications. Try to research on your own at legal info sites with the laws in your state, maybe before you contact your attorney. On the other hand the initial new client forms probably included that question.

      Bejah

    • Barb says:

      Anna certainly inform your attorney and provide papers. This very well put you in a situation depending on what type you filed this may deffinately make a huge difference in your case! You may end up getting zero if you have liens and you certainly do@ Do you have to make payments or is everything wiped out?? You should also contact the attorney you filed bankrup from……………so you were is financial despair prior too.

  4. Bilal says:

    “Maybe he should put a mesh in himself!!!!!!!!!!”

  5. Johnny Carter says:

    Is Johnson and Johnson planning to settle there pelvic mesh cases

    • Jane Akre says:

      There is no way of knowing. They say not…. then again, one day they will. That’s been their pattern. It’s all about money. When the cost of litigation outweighs the cost of the jury awards, then they will do the math and say “Guess we better settle…”

  6. Disgusted says:

    J&J’s report states 38,500 claimants in the US not including Canada, etc. They do not mention the amount of accruals set aside for any of their particular products. Mesh products stand out among the rest with a much higher number of litigants. It seems to me (I might be wrong, I’ve got addled brain disease from mesh LOL.) that these other products were at least mentioned on the news. Why aren’t the pelvic meshes being covered at all?? This has been an ongoing question from the beginning. I wonder if they are refusing to settle so Alex Gorsky could remain silent on the subject in his report? It is so hard to feel so helpless and buried under bureaucracy (administration characterized by excessive red tape and routine.) The truth will eventually come out, will we be alive to see it?

    From the 10Q report: PRODUCT LIABILITY

    Certain subsidiaries of Johnson & Johnson are involved in numerous product liability claims and lawsuits involving multiple products. Claimants in these cases seek substantial compensatory and, where available, punitive damages. While these subsidiaries believe they have substantial defenses, it is not feasible to predict the ultimate outcome of litigation. The Company has established product liability accruals in compliance with ASC 450-20 based on currently available information, which in some cases may be limited. In addition, product liability accruals can represent projected product liability for thousands of claims around the world, each in different litigation environments and with different fact patterns. Changes to the accruals may be required in the future as additional information becomes available.

    The most significant of these cases include the DePuy ASR™ XL Acetabular System and DePuy ASR™ Hip Resurfacing System, the PINNACLE ® Acetabular Cup System, pelvic meshes, and RISPERDAL ® . As of March 29, 2015, in the U.S. there were approximately 9,200 plaintiffs with direct claims in pending lawsuits regarding injuries allegedly due to the DePuy ASR™ XL Acetabular System and DePuy ASR™ Hip Resurfacing System, 7,600 with respect to the PINNACLE ® Acetabular Cup System, 38,500 with respect to pelvic meshes, and 2,400 with respect to RISPERDAL ® .

    In the 10Q I also found:

    litigation expense of $136 million in the fiscal first quarter of 2015.

    net litigation gain of $538 million and $139 million for costs associated with the DePuy ASR TM Hip program recorded in the fiscal first quarter of 2015. Includes Synthes integration costs of $118 million recorded in the fiscal first quarter of 2014.

    I couldn’t copy the whole gross profit/loss table because of the format.

    Thank you Jane – again.

    • Jane Akre says:

      Thank you for being so smart Disgusted and read what they are issuing. No mention in the latest report. If you don’t mention it – does that mean it doesn’t exist? Why did one investor not ask about the pelvic mesh trials or the ongoing litigation. Looked like a love-fest to me…..

    • kitty says:

      I believe that a couple of the Dr’s that worked for some of the companies should be lmprisoned I can’t mention names

  7. IS JOHNSON & JOHNSON TALKING ABOUT ANY KIND OF SETTLEMENT OR ANY OTHER UPDATES

    AS THE LITIGATION PROCESS CONTINUES.

    • Jane Akre says:

      At this time they are not. But that’s generally what they say before they settle.

      • Debbie Edwards says:

        Jane, is it true that “most” settlement adv.out to be $6,000. To $20,000. Per person. That is the amount after you pay the lawers their 40%.?

        • Jane Akre says:

          Perhaps on the very lowest tier. Many will not accept that money!!! If you opt out there may be other avenues…. working on that news.

        • Barb says:

          Remember Debbie that all us in an MDL our cases are still based on individual bases who’s your manufacturer?? When Jane posted the tiers at no fault of hers I had brought that up to my attornys and Jane had also posted an article where it is reported that these settlements appear to be higher of course that all depends on how strong your case is written in doctors notes. And most of us start out with medical liens which are paid first along with other liens.

  8. Debbie Edwards says:

    Thanks Jane for the information. I don’t think this is ever going to end, but now that I am 60 years old I like to dream… lol. Maybe I will get enough to take my husband to dinner and thank him for walking this walk with me. That is if we are still alive lol. All joking aside, is the a statue of limitations that the courts have to settle? My case has been filed for over a year now?

    • Bejah B says:

      Debbie, Good question about a statute and settlement. I do not know the answer. Does anyone? Or with this is there corporate favoritism also…we suffer statutes but corporations do not?

      Bejah

  9. Janis Urban says:

    The word MESH is Taboo, it is invisible in reality. It has become quite masonic like. The secrecy, a conspiracy. What else can you call it. When your Government will not investigate, hold any hearings, despite be ask to, an entire Medical Community is in denial and fails to treat your medical issues, Fda failing to do their job and have been dragging their feet for over a decade, the non existence of any mass media coverage is suspect and now it’s all in the hands of a Judicial System that is over wrought with the amount of claims waiting to be heard. And at a share holders meeting not a mention of what could be a major liability to the future of the company. Do you think the shareholders received a correspondence about the on going litigation. Or Gorsky has pulled off another one of his snow jobs. No, J & J has the cash to defend themselves. Maybe the trials in December will bring them down a few notches. But then again they might settle the cases out of court again, like they have been doing? They are ruthless but within there rights, I guess they rather pay their lawyers. Thank you Jane

    • Bejah B says:

      Janis, “Within their rights?? And who gave them those rights and have those rights changed since first given? I do not think they care if they even have rights to do what they have done, they just do what they want to and change the laws to protect themselves if necessary.

      Bejah

  10. cruci says:

    Sorry ms.jane forgot to let you know I would like for an answer via email. Thank you for all your updates on this matter

  11. kitty says:

    Tolling tolling tolling keep the cases tolling Raw Hide. giiti up

  12. cruci says:

    I must be one of those persons that feel there’s no end to this tunnel but what if it was one of their family members in our position would they react the same? I feel helpless knowing that the illnesses we have due to many of our surgeries have us very depressed and sad because we can’t for tell our future, they take their sweet time in deciding what to do with all those files of patients that believed could get relieved or fixed their problems by using their product without realizing we would loose everything we had health, husband, kids, family members and even n worse life, and yet they still doing business like usual they’re not thinking about us as persons but numbers, hope God gives them a hint of pain n see if they move faster, wish that at least the ceo would be walking in one of us shoes for at least 1 hr, bet he wouldn’t walk not even 10 min

  13. janet says:

    Why have we heard nothing regarding these lawsuits with the mesh

    It’s like everyone including judge Goodwin have doped off the planet

    So, here we all sit still damaged in pain spending money we do not have for medical help and these manufacturers get off with nothing

    I hate living this way and so does the others

    I am tired of procedures after procedures and always facing uncertainty in my life

    The pain is so great it is taking over our lifes the depression is enough yo kill you.

    I am tired of being sick, but it will never change

    So, when will it be enough to have a judge fight for us and make these companies take the responsibility that is there’s and not ours

    Please let there be a higher court that will rule for us and help us proceed with our medical without us going broke from these manufacturers

    They have caused us so much pain and costing us alot of money also pain

    • Jane Akre says:

      Unfortunately the last J&J trial was in January in Missouri. MND was there…. there was a quiet settlement, it was a death case. There are some trials coming up though beginning in Septembet and going through the end of the year concerning J&J. I would ask anyone in the areas to help cover them, if they can. I can help. Thank you.

  14. janet says:

    Has anyone scene the new johnson & Johnson shampoo baby

    This only proves that johnson & Johnson does not give a flying pig

    About us women that the have butchered with the mesh

    This company can spend the money for there advertising regarding there products and put out money for new devices

    but yet they can not do what is right by all the women they have butchered with the mesh

    shame on this company for not taking care of there mistake that had been put on these women

Post a Comment

Your email is never published nor shared. Required fields are marked *

*
*

© 2016 - 2017 Mesh Newsdesk. All rights reserved.
This is a Sundown Legal Marketing law firm website.