Stryker Hip Implant Recalls, FDA Warning Letters Prompt CEO to Promise Improvement
January 25th, 2008 joshua
The President and CEO of Stryker Corp. says its company has a lot of work to do to erase the memory of two warning letters received from the Food and Drug Administration in the past nine months.
The Kalamazoo (Mich.) Gazette reports Stryker CEO Stephen MacMillan told investors during a conference call that it’s taking the warnings about its faulty hip parts very seriously.
On Tuesday, it announced a recall of two hip implant cups in which replacement hips fit. The cups were manufactured at Stryker’s Ireland facility. Stryker released a warning letter about its operations in Ireland during the summer of 2007. It got the second letter, this time regarding operations at its Mahwah, N.J., facility last week.
MacMillan’s words came during a review of fourth-quarter 2007 performance and a review of all 2007 earnings. He said he expected 20 percent growth in this area in 2008 and assured investors that 25 percent of bonuses tied to his and other high-level administrators would go to combat the manufacturing problems.
