Johnson & Johnson is company many consumers associate with baby shampoo and Band-Aids. While it is true the company makes these products, the firm’s real profits come from the fact that it is a major pharmaceutical manufacturer as well as major maker of medical devices and durable medical equipment (DME), such as artificial hips and knee implants.
The company owns another company known as DePuy, and that company is a major producer of hip joints, including many that have been found to be defective. According to a news article from Fox News, a jury in Dallas has just awarded victims of the Pinnacle hip implant over $1 billion in damages. Continue reading