Johnson & Johnson (JNJ) (JNJ) has agreed to pay as much as $2.2 billion to settle U.S. probes of the marketing of its Risperdal antipsychotic drug and other medications, two people familiar with the negotiations said.
The settlement, which might be announced this week, will include a misdemeanor plea and criminal penalty of as much as $600 million, said the people, who didn’t want to be identified because they weren’t authorized to speak publicly about the agreement. The accord also would resolve civil claims that J&J paid kickbacks to Omnicare Inc. (OCR) (OCR), a company that dispenses drugs at nursing homes, the people said.
The agreement, which doesn’t end claims by some states, would be the government’s second-biggest settlement with a pharmaceutical company, behind a $2.3 billion pact Pfizer Inc. (PFE) (PFE) entered in 2009 to resolve U.S. investigations of improper marketing of its Bextra painkiller and other drugs.
“This is a gigantic settlement that reflects the seriousness of the criminal and civil allegations against J&J over Risperdal and the other drugs,” Carl Tobias, who teaches product-liability law at the University of Richmond law school, said in a phone interview.
The accord, which covers Risperdal claims by whistle- blowers and the U.S. and those by most of the states, also resolves claims that J&J illegally marketed the heart-failure drug Natrecor and the anti-psychotic medication.
The settlement, which might be announced this week, will include a misdemeanor plea and criminal penalty of as much as $600 million, said the people, who didn’t want to be identified because they weren’t authorized to speak publicly about the agreement. The accord also would resolve civil claims that J&J paid kickbacks to Omnicare Inc. (OCR) (OCR), a company that dispenses drugs at nursing homes, the people said.
The agreement, which doesn’t end claims by some states, would be the government’s second-biggest settlement with a pharmaceutical company, behind a $2.3 billion pact Pfizer Inc. (PFE) (PFE) entered in 2009 to resolve U.S. investigations of improper marketing of its Bextra painkiller and other drugs.
“This is a gigantic settlement that reflects the seriousness of the criminal and civil allegations against J&J over Risperdal and the other drugs,” Carl Tobias, who teaches product-liability law at the University of Richmond law school, said in a phone interview.
The accord, which covers Risperdal claims by whistle- blowers and the U.S. and those by most of the states, also resolves claims that J&J illegally marketed the heart-failure drug Natrecor and the anti-psychotic medication.
Permanent short link for Go Daddy.com Just ez2.me
Remember nick name for Godaddy.com www.ez2.me Tell your friends about Easy To Me, Go Daddy,s Approved affiliate
A customer victim speaks
ReplyDeleteRisperdal reproached.
The saga of the so called *atypical antipsychotics* is one of incredible profit.Eli Lilly made $65 BILLION on Zyprexa.Described as *the most successful drug in the history of neuroscience* the drugs at $12 pill are used by states to medicate deinstitutionalized mental patients to keep them out of the $500 day hospitals.
There is a whole underclass block of our society,including children in foster care that are the market for these drugs,but have little voice of protest if harmed by them.I am an exception,I got diabetes from Zyprexa as an off-label treatment for PTSD and I am not a mentally challenged victim so I post.
--Daniel Haszard- FMI http://www.zyprexa-victims.com