Zimmer has posted a 37 percent drop in fourth-quarter net income. The drop has been tied to a decreased demand for prosthetic devices coupled with funds being set aside to for anticipated claims linked to the Durom Cup hip replacement system.
Zimmer Holdings Inc., the world’s largest manufacturer of artificial joints, also announced that they expect 2009 earnings to fall short of Wall Street expectations. The company has attributed their lowered expectations of 2009 earnings to the continuing worldwide recession.
In July of 2008 Zimmer temporarily suspended U.S. sales of the Durom Cup hip replacement system after surgeons reported a disproportionate number of patients experiencing problems with the cup loosing. These problems often resulted in repeat surgery and the removal of the Durom Cup hip implant. Durom Cup sales account for between 5 and 10 percent of Zimmer’s total hip-replacement market.
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