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J&J To Take $600 Million Charge to Settle Drug Marketing Charges

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Pharmaceutical giant Johnson & Johnson has said that it is planning to take a $600 million charge to bulk up reserves for potential settlement of litigation over how the company marketed the anti psychotic drug Risperdal, as well as the drugs Natrecor and Invega.

According to the Chicago Tribune, the charge could also used to settle allegations involving Omnicare Inc, which provides medication to nursing home and long-term care residents. Federal investigators claim that J&J paid the pharmacy operator to provide Risperdal to its patients.

Reuters reports that previously J&J set aside $3.3 billion for Risperdal investigations and lawsuits, and that in April J&J was found guilty of using fraudulent tactics to sell the schizophrenia treatment and ordered to pay a $1.1 billion penalty.

Johnson & Johnson also settled a Texas lawsuit that accused the company of improperly marketing the drug to Medicaid recipients for $158 million.

 

 

breakinglawsuitnews.com disclaimer: This article: J&J To Take $600 Million Charge to Settle Drug Marketing Charges was posted on Monday, June 11th, 2012 at 9:47 pm at breakinglawsuitnews.com and is filed under Defective Drug Lawsuits.

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