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The company is operating under increased scrutiny from the U.S. Food and Drug Administration, while it completely rebuilds one nonprescription medicine factory from the ground up and upgrades other factories. The recalls and lost product sales have cost J&J well over $1 billion.
In August 2010, the company recalled two types of DePuy ASR metal hip implants after they were linked to high failure rates. Those recalls have led to thousands of lawsuits by U.S. patients.
In the first of those cases to reach trial, a jury in Los Angeles three weeks ago began hearing testimony in a lawsuit brought by a former North Dakota prison guard who got one of the implants to relieve arthritic pain, but had to have it replaced.
Lawyers for Loren Kransky told jurors that black pieces of metal flaked off the implant and caused a type of metal poisoning that could have killed him if the material had not been removed. But a Johnson & Johnson lawyer said the 64-year-old Kransky had many pre-existing medical ailments.
J&J shares rose 15 cents to close at $75.81 on Thursday after rising as high as $76.09 earlier in the session. FactSet said that was an all-time high for the stock.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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