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$2.2 Million Risperdal Settlement Announced by Johnson & Johnson

Filed July 20th, 2012 Laurie

Johnson & Johnson will pay out at least $2.2 billion to bring closure to an investigation into marketing of the anti-psychotic drug Risperal.

According to a story published in The Wall Street Journal, the settlement will include a $400 million criminal fine and that the final amount will be determined by how many states accept the settlement.

Johnson & Johnson is expected to release the terms of the settlement in the next few weeks. The company will still be allowed to sell its products to Medicare and other government health programs.

J&J was sued for paying tens of millions of dollars in illegal kickbacks to a company that provided prescription drugs to nursing home patients. The payments were made to increase sales of Risperdal, which is used to treat symptoms of schizophrenia and bipolar disorder. It has been linked to increased risk of death for elderly people with dementia.
Johnson & Johnson is also facing lawsuits alleging that it concealed the side effects of the drug. An Arkansas judge fined the company about $1.2 billion in April.

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