Rottenstein Law Group Examining Positive Financial Outlook of Zimmer in Light of NexGen Knee Device Difficulties
(New York, NY, May 9, 2011) The Rottenstein Law Group, which represents clients with claims stemming from the failures of defective knee replacement devices manufactured and sold by Zimmer Holdings, Inc., would not have assumed a rise in Zimmer’s stock price in light of ongoing problems with its knee replacement devices.
According to an April 28 Reuters article, Zimmer Holdings, Inc. “reported solid first-quarter results, reflecting a slight pick-up in demand for joint replacements after a long slide.”
“The maker of the hip and knee replacements, surgical instruments and dental implants said its net earnings were $208.9 million, or $1.08 per share, compared with $205.4 million, or $1.01 per share, a year before,” Reuters reported. “Sales rose a stronger-than-expected 5 percent from a year before to $1.12 billion, helped by new product launches and a recovery in hip sales.... The Warsaw, Indiana-based company also reiterated its full-year outlook calling for adjusted earnings per share of $4.60 to $4.80, with revenue up 2 percent to 4 percent.”
Zimmer’s financial outlook is brighter than one might have imagined, in light of recent troubles with the company’s NexGen replacement knee products. In 2003, the Zimmer NexGen CR-Flex implant was introduced as the latest solution to common knee problems. The product promised to give recipients a broader range of motion than had been delivered by previous knee replacement devices. The CR-Flex implants have been used in over 150,000 procedures, making Zimmer millions of dollars in yearly revenue. A recent study brought to light data that is questioning the effectiveness of the NexGen CR-Flex devices, as reported by the New York Times. The surgeons who conducted the study, including Dr. Richard A. Berger, who has a long history of designing surgical tools and artificial joints for Zimmer, are advocating for the product’s removal from the market.
Unfortunately, recipients of joint replacement devices are not normally told which devices they are being implanted with. This circumstance can lead to a victim failing to take the appropriate action when faced with subsequent difficulties. The Rottenstein Law Group is encouraging anyone with a friend or relative who has had a knee replacement to recommend that he or she speak to a physician immediately, and then speak to a qualified personal injury lawyer. The Rottenstein Law Group lawyers have a total of more than 25 years of experience fighting for the rights of clients who have suffered harm due to the negligence of powerful corporations.
The Rottenstein Law Group maintains a Zimmer Knee Replacement Lawsuit Information Center which is equipped with easy-to-use social media features that will enable users to spread the word about DePuy Pinnacle hip replacement device failures.
About the Rottenstein Law Group
The Rottenstein Law Group is a New York-based law firm that represents clients in mass tort actions. The firm was founded by Rochelle Rottenstein, a lawyer with over two decades of experience in compassionate representation of clients in consumer product injury, mass tort, and class action law suits. For more information, please visit their Web site, or call (888) 9-ROT-LAW.
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