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Johnson & Johnson Reaching for DOJ Settlement over Risperdal

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The Wall Street Journal reported yesterday that Johnson & Johnson and the Department of Justice are close to a settlement regarding the investigation into the drug company’s illegal marketing of the anti-psychotic drug Risperdal. Reports estimate the settlement will reach up to $1.7 billion, making it one of the largest settlements in a pharmaceutical marketing case ever.

Earlier, federal prosecutors shot down a $1 billion settlement wanting a bigger settlement that would potentially resolve numerous lawsuits and state investigations. For Johnson & Johnson, a settlement could prevent felony charges being brought that would halt the company’s ability to sell its medications to government health programs like Medicaid and Medicare.

According to RTTNews.com, Johnson & Johnson has already been court ordered to pay over nearly $2 billion to resolve litigation in numerous state courts regarding the illegal marketing of Risperdal. J&J was fined $1.1 billion by an Arkansas Court, and must pay $158 million in a Texas lawsuit. The company is appealing a $327 million verdict in South Carolina, and $258 million in Louisiana.

 

breakinglawsuitnews.com disclaimer: This article: Johnson & Johnson Reaching for DOJ Settlement over Risperdal was posted on Friday, June 22nd, 2012 at 2:26 am at breakinglawsuitnews.com and is filed under Defective Drug Lawsuits.

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