Johnson & Johnson faces $327 million penalty over Risperdal marketing
Civil penalties amounting to just over $327 million have been announced in the case of State of South Carolina versus Ortho-McNeil-Janssen Pharmaceuticals and parent company Johnson & Johnson (NYSE: JNJ), where the judge rule that they deceptively marketed the anti-psychotic drug Risperdal (risperidone) deceptively.
In a regulatory filing with the Securities and Exchange Commission last month, J&J said it had set aside an unspecified amount of money for a potential settlement of the probe into whether its Ortho-McNeil Janssen unit had promoted the antipsychotic drug Risperdal (risperidone) for unapproved uses (The Pharma Letter May 16).
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