NEW YORK (AP) â¿¿ Smith & Nephew PLC said Friday it is pulling from the market a metal liner used in hip replacements.
The London company said the device is the optional metal liner for its R3 Acetabular System hip devices. Smith & Nephew said it is "not satisfied with the clinical results" of the liner, but did not explain why it was not satisfied. Smith & Nephew did not immediately respond to a request for further comment.
Smith & Nephew said the liner was introduced in 2009 and about 7,700 have been implanted in patients. Most of them were used in stemmed total hip replacements. The company reported $4.27 billion in revenue in 2011, and it said less than 1 percent of that revenue came from procedures involving the recalled component.
Shares of Smith & Nephew lost $1.37, or 2.9 percent, to $45.29 in midday trading.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV