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J&J Said to Agree to Pay $1 Billion in Risperdal Marketing Probe
Key Excerpts from Article on Website of Bloomberg/Businessweek
Posted: February 14th, 2012
http://www.businessweek.com/news/2012-01-18/j-j-said-to-agre...
Johnson & Johnson will pay more than $1 billion to the U.S. and most states to resolve a civil investigation into marketing of the antipsychotic Risperdal. Negotiations over a possible criminal plea are still under way. The U.S. government has been investigating Risperdal sales practices since 2004, including allegations the company marketed the drug for unapproved uses. J&J, the worlds largest health products company ... disclosed in August that it reached an agreement to settle a misdemeanor criminal charge related to Risperdal marketing. The company is discussing paying about $400 million more to settle that portion of the investigation. Risperdal, once J&Js best-selling drug, generated worldwide sales of $24.2 billion from 2003 to 2010, reaching $4.5 billion in 2007. After that, J&J lost patent protection and sales declined. The settlement represents ... about 5.6 percent of the drugs cumulative sales since 2003. The Food and Drug Administration approved Risperdal in 1993 for psychotic disorders including schizophrenia. That market is limited, and J&Js Janssen unit sought to sell Risperdal for bipolar disorder, dementia, mood and anxiety disorders and other unapproved uses.
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