David Floyd, president of DePuy Orthopaedics, manufacturing knee and hip replacements sold worldwide, has resigned his post amidst growing company struggles in the wake of the DePuy hip replacement recall.
A spokeswoman confirmed on Monday that Mr. Floyd had tendered his resignation in the last week of February, citing the pursuit of interests outside of DePuy Orthopaedics. Mr. Floyd will continue as president at DePuy Orthopaedics, a position he assumed in 2007, through a transition period which will end in late March.
This resignation follows a particularly tumultuous year for DePuy Orthopaedics. In August of 2010 DePuy recalled its ASR hip replacement device, when research revealing a 13% early failure rate was reported. This recall resulted in the filing of hundreds of lawsuits on behalf of recipients of the DePuy ASR hip replacement system against DePuy Orthopaedics and Johnson & Johnson.
In addition to the damage inflicted on the company’s reputation, this recall was especially difficult for the company economically, exasperating the already hostile economic environment. Patients who did have the money to move forward with an expensive hip replacement procedure and their doctors were unwilling to purchase their hip prosthesis from a company whose hip replacement has just been so infamously exposed. Also, DePuy took a $280 million dollar charge in order to pay for testing and treatment of those who had been implanted with the ASR, a huge figure which many say will still be insufficient to cover the costs of the recall.
DePuy Orthopaedics is suffering the consequences of its carelessness in promoting the DePuy ASR despite evidence of its failing. The company received approval for marketing without having performed extensive testing of the device. Also, the company failed to respond to growing concerns over the safety of the device until recently. As a result of this carelessness, the defective hip implant, manufactured by DePuy, was implanted in thousands of patients worldwide. The implant is failing at rates higher than competing devices within the first five years after implant, and further, many of those implanted with the defective device require painful revision surgery to remove the ASR.
If you are one of those who fell victim to DePuy Orthopaedics’ inadequate policies regarding the safety of its products, and were implanted with the defective DePuy ASR hip replacement, call us today at 1 (888) 444-2336 for FREE advice regarding your legal rights to compensation from DePuy and Johnson & Johnson. You can also complete the form on the right side of this page and we will personally contact you.