View a Clip from the Film ‘Raze’
Free PR Web Directory
Johnson & Johnson will put aside $600 million in the next quarter for lawsuit settlements involving illegally marketed prescription drugs. This is in addition to the $1.7 billion that the corporation saved in 2011 for the same purpose, according to its January earnings report.
J&J has been charged with illegally marketing the anti-psychotic drug Risperdal, and for misleading both doctors and patients on the risks of the drug, going back as far as 2002. A judge in Arkansas ordered the company to pay $1.1 billion, which J&J plans to appeal.
The $600 million is going to be used for other civil cases involving both Risperdal and the heart failure drug Natrecor, according to a statement released by Johnson & Johnson this past week.
Over the past year, the corporation’s shares have declined by 4.8%. They also gained less than 1% as of the end of this week. To read more about the lawsuits and settlements, click here.