J&J Announces $600M Hit To Pay For Drug Settlements

Law360, New York (June 8, 2012, 10:46 PM EDT) -- Johnson & Johnson on Friday said it likely would take a hit of about $600 million in the second quarter to pay for the potential settlement of various civil suits alleging, among other claims, that the company illegally marketed antipsychotic drug Risperdal.

The funds would be used in any potential settlements the pharmaceutical giant reaches in a slew of suits filed over the marketing of Risperdal and schizophrenia drug Invega, the labeling of heart failure drug Natrecor and an alleged kickback scheme between Johnson & Johnson...
To view the full article, register now.