Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 15,303.10 +8.60 0.06%
S&P 500 1,649.60 -0.91 -0.06%
Nasdaq 3,459.14 -0.27 -0.01%
Ticker Volume Price Price Delta
STOXX 50 2,764.29 -12.49 -0.45%
FTSE 100 6,654.34 -42.45 -0.63%
DAX 8,305.32 -46.66 -0.56%
Ticker Volume Price Price Delta
Nikkei 14,612.50 +128.47 0.89%
Hang Seng 22,618.70 -51.01 -0.23%
S&P/ASX 200 4,983.50 -78.95 -1.56%

Hip Implant Concerns Reached 16,800 in a Decade, FDA Says

Almost 16,800 adverse events associated with metal-on-metal hip implants were reported in the U.S. from 2000-2011, regulators said.

The reports almost quadrupled to 682 in 2008 from the year earlier, and rose again after a unit of Johnson & Johnson (JNJ) began recalling hip devices in 2010, according to report posted today on the Food and Drug Administration’s website. Adverse event reports in 2011 totaled 12,137 for the metal-on-metal devices, compared with 6,332 associated with other types of hip implants, according to the FDA document.

J&J faces more than 6,000 lawsuits related to the hip devices in federal and state courts. The ASR hips from the New Brunswick, New Jersey-based company account for 9,006, or 74 percent, of the incident reports in 2011, according to the FDA’s document. J&J recalled 93,000 ASR hips worldwide in 2010, including 37,000 in the U.S., saying more than 12 percent of the devices failed within five years.

The FDA plans to convene advisers on June 27 and 28 to examine the safety of metal-on-metal hip implants. The agency is expected to release additional documents June 25.

The most-reported side effect was revision, meaning surgery to remove or replace the implant. Revisions totaled 14,131 in metal-on-metal hip implants followed by 8,704 reports of pain.

Metal-on-metal hip implant use peaked in 2006 and 2007 at an estimated 30 percent of the market and is now about 10 percent, Matthew Taylor an analyst at Barclays Capital Inc., said in a telephone interview. Other implants include those made of ceramic and polyethylene.

If the FDA restricts metal-on-metal implants, companies such as Biomet Inc., based in Warsaw, Indiana, won’t be significantly affected, Taylor said.

“Most of the companies have a full line of hip products they can sell so they’d just be swapping it out with the other hip products,” he said.

To contact the reporter on this story: Anna Edney in Washington at aedney@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net

Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.

Personal Finance Best Sellers From Amazon

Key Rates

  • Mortgage
  • Home Equity
  • Savings
  • Auto
  • Credit Cards
Today’s national average mortgage rates. Rates may include points.
Type Today 1 Mo
30 Year Fixed Jumbo 4.05% 3.92%
30 Year Fixed 3.75% 3.47%
15 Year Fixed 2.89% 2.71%
10 Year Fixed 2.98% 3.00%
30 Year Fixed Refi 3.74% 3.46%
15 Year Fixed Refi 2.89% 2.69%
5/1 ARM 2.66% 2.61%
5/1 ARM Refi 2.64% 2.57%
View rates in your area »

Source: Bankrate.com

Today’s average home equity rates nationwide.
Type Today 1 Mo
$30K HELOC 5.34% 5.24%
$50K HELOC 4.56% 4.53%
$75K HELOC 4.57% 4.53%
$100K HELOC 4.27% 4.21%
$30K Home Equity Loan 5.95% 6.06%
$50K Home Equity Loan 5.97% 6.02%
$75K Home Equity Loan 5.94% 5.99%
$100K Home Equity Loan 5.80% 5.84%
View rates in your area »

Source: Bankrate.com

Today’s average savings rates nationwide.
Type Today 1 Mo
5 Year CD 1.24% 1.21%
2 Year CD 0.70% 0.66%
1 Year CD 0.57% 0.52%
MMA $10K+ 0.47% 0.50%
MMA $50K+ 0.69% 0.70%
MMA Savings Jumbo 0.58% 0.60%
View rates in your area »

Source: Bankrate.com

Today’s average auto loan rates nationwide.
Type Today 1 Mo
60 Months Used Car 2.97% 3.19%
48 Months Used Car 2.92% 3.13%
36 Months Used Car 2.88% 2.96%
72 Months New Car 2.45% 2.96%
60 Months New Car 2.54% 2.67%
48 Months New Car 2.45% 2.58%
60 Months Auto Refi 4.15% 4.36%
36 Months Auto Refi 3.60% 3.76%
View rates in your area »

Source: Bankrate.com

Today’s average credit card rates nationwide.
Type Today 1 Mo
Standard Variable 14.12% 14.12%
Standard Fixed 13.23% 13.23%
Gold Variable 12.70% 12.70%
Gold Fixed 11.99% 11.99%
Platinum Variable 15.53% 15.57%
Platinum Fixed 12.70% 12.70%
View rates in your area »

Source: Bankrate.com