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J&J Settle Risperdal Investigation for $2.2 Billion

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According to the Wall Street Journal, Johnson & Johnson has agreed to pay $2.2 billion, which includes a criminal fine of $400 million, to settle an investigation into the marketing of the anti-psychotic drug Risperdal.

 

In 2010, the Justice Department joined a whistleblower lawsuit filed against J&J saying J&J paid Omnicare Inc., tens of millions in kickbacks to provide nursing home residents with Risperdal, though it has been linked to an increased risk of death in elderly patients with dementia, Bloomberg reports. Omnicare Inc., agreed in 2009 to pay $90 million to resolve those claims. In April, an Arkansas judge fined J&J $1.2 billion for allegedly concealing the side effects of Risperdal.

 

The Risperdal settlement is one of the largest settlements recorded for drug marketing, falling just behind a GlaxoSmithKline PLC $3 billion settlement for the illegal marketing of two antidepressants and a Pfizer Inc., settlement of $2.3 billion over the illegal marketing of numerous drugs, including Bextra which was removed from the market in 2005.

 

The Wall Street Journal wrote that J&J is expected to release the general terms of the settlement agreement soon, and that the company will still be able to sell products to the Medicare and Medicaid government programs.


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J&J Settle Risperdal Investigation for $2.2 Billion

breakinglawsuitnews.com disclaimer: This article: J&J Settle Risperdal Investigation for $2.2 Billion was posted on Friday, July 20th, 2012 at 8:19 pm at breakinglawsuitnews.com and is filed under Defective Drug Lawsuits.

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