by Anthony Chicotel, CANHR Staff Attorney
A judge recently ordered Johnson and Johnson to pay the state of Arkansas $1.2 billion for illegally marketing its antipsychotic drug Risperdal. The lawsuit included allegations that Johnson and Johnson illegally marketed Risperdal for uses not approved by the FDA, such as treating dementia. The order comes on the heels of other state judgments and settlements against Johnson and Johnson for several hundred million dollars. A similar lawsuit filed by the federal government remains on-going.
While the volume and size of the judgments against Johnson and Johnson seem meaningful and destined to dent big pharma sales, investors feel otherwise. The company’s stock price fell just seven cents (.1%) on the day the judgment was announced.