$50 mil. to fix Stryker quality problems
This article was originally published in The Silver Sheet
Executive Summary
Stryker says it will spend at least $50 million a year "over the next few years" to resolve quality systems issues related to three FDA warning letters, Katherine Owen, the firm's VP for strategy and investor relations, said during a Sept. 3 presentation at the Thomas Weisel Partners Healthcare Conference in Boston. The company's biotech division received a letter in April citing quality system and compliance violations at its Hopkinton, Mass., facility ("The Silver Sheet" May 2008). That letter was Stryker's third since March 2007; the other two came following FDA inspections of the firm's Mahwah, N.J., and Carrigtwohill, Ireland, plants