J&J shares fell 0.7% to $67.45 on Friday. Analysts at Wells Fargo estimated that J&J could be on the hook for $1 billion in liability and other costs related to the flood of lawsuits. J&J, meanwhile, said its product-liability reserves were $570 million more than a year ago. The company also allotted a reserve of $280 million to specifically cover the medical costs of patients directly affected by the recalled artificial hips. Stryker ( SYK - Get Report), a rival to J&J in the hip replacement space, saw its shares fall 1.4% to $59.78. -- Written by Miriam Marcus Reimer in New York. >To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket. >To submit a news tip, send an email to: email@example.com.
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