Sulzer Stock Tumbles Amid Recall Concerns
June 21, 2001
The stock price of Sulzer Medica AG declined today as concern mounted that the hip and knee implant maker may be liable for over $560 million in costs associated with replacing Sulzer's defective hip and knee implant devices. In December 2000 the company announced the recall of over 17,000 hip implants after it discovered that the devices were covered with an oily substance that adversely affected the health of those who received the implants. In recent weeks, reports have surfaced that Sulzer's knee implants may also pose health problems.
As of mid-June 2001, Sulzer has reported that nearly 2,000 people have had their Sulzer hip implants removed. The company still cannot confirm the total number of revision surgeries which may be necessary. To date, over 800 lawsuits have been filed by patients suffering from faulty hip implants.
-- Article Courtesy of InjuryBoard.com
More ...
- Many People May Have to Undergo Sulzer Hip Replacement
- Sulzer's Insurance May Be Inadequate
- Sulzer Refuses to Increase Settlement Offer
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