Johnson & Johnson said it plans to appeal the Texas jury verdict Watch video
Johnson & Johnson has been ordered by a federal jury to pay out $500 million to five plaintiffs after issues with their hip implants, reports say.
The Texas jurors awarded $140 million in compensatory damages and $360 million in punitive damages after following a two-month trial that concluded Friday, according to the Wall Street Journal.
The metal hip implant, Pinnacle, which was produced by a subsidiary of the New Brunswick-based health care conglomerate, allegedly had high failure rates, Fortune reports.
The company said it will appeal and expects the punitive damages to be cut to roughly $10 million, reports say.
This is the second lawsuit lost by the company in as many months. In February, Missouri jurors ordered Johnson & Johnson to pay our $72 million in a lawsuit over the death of a woman linked to its baby powered.
Earlier this year, the company cut 3,000 jobs in its medical device division following a recent dip of 3 percent in sales.
Craig McCarthy may be reached at CMcCarthy@njadvancemedia.com. Follow him on Twitter @createcraig. Find NJ.com on Facebook.