Health care settlements

J&J settles hip implant suits for $1 billion

A CT image of hip implants.
A CT scan of hip implants. Photo: BSIP/UIG via Getty Images

Johnson & Johnson plans on paying out $1 billion to settle almost all patient lawsuits involving its all-metal hip implants, although the health care giant still faces other lawsuits related to its other hip implants, Bloomberg reports.

The big picture: The hip settlements are just the tip of the legal iceberg for J&J, which also is facing high-profile litigation over its baby powder, pelvic mesh implants and opioids.

Justice Department collects more pharma copay settlements

Astellas Pharma is paying $100 million and Amgen is paying almost $25 million to the Department of Justice to settle allegations that they funneled donations to charities, which in return covered patients' copays for those companies' drugs. 

The bottom line: The settlements are small potatoes for both drugmakers.