J&J's (JNJ) Janssen Settles RISPERDAL Suit w/ 36 States and D.C.; Will Pay $181M
Tweet
Share
E-mailGet Alerts JNJ Hot Sheet
Join SI Premium – FREE
Johnson & Johnson's (NYSE: JNJ) Janssen Pharmaceuticals, Inc., a Johnson & Johnson company, announced a settlement and consent decree today with 36 states and the District of Columbia regarding previously disclosed allegations related to promotional and marketing practices for its atypical antipsychotic prescription medication RISPERDAL.
The company will pay approximately $181 million, an amount which has been previously accrued, as part of a consent decree to resolve state consumer protection law claims in the 36 states and the District of Columbia related to this matter. A designated portion of the total amount will be paid to each state participating in the settlement.
The settlement is not an admission of wrongdoing or violation of any law or regulation. The company agreed to the settlement to resolve the concerns of the attorneys general under state consumer protection laws and to avoid unnecessary expense and a prolonged legal process. All parties have acknowledged that the payment is not a fine or penalty.
As part of the settlement, Janssen reaffirmed it would not promote any of its atypical antipsychotics for off-label uses or make any false or misleading claims related to those products. The company takes its obligation to ensure the safe and appropriate use of its medications very seriously and has a system in place to ensure that marketing and promotion policies are followed.
In addition to the District of Columbia, the 36 states participating in the settlement are: Alabama, Arizona, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Vermont, Washington, Wisconsin and Wyoming.
The company will pay approximately $181 million, an amount which has been previously accrued, as part of a consent decree to resolve state consumer protection law claims in the 36 states and the District of Columbia related to this matter. A designated portion of the total amount will be paid to each state participating in the settlement.
The settlement is not an admission of wrongdoing or violation of any law or regulation. The company agreed to the settlement to resolve the concerns of the attorneys general under state consumer protection laws and to avoid unnecessary expense and a prolonged legal process. All parties have acknowledged that the payment is not a fine or penalty.
As part of the settlement, Janssen reaffirmed it would not promote any of its atypical antipsychotics for off-label uses or make any false or misleading claims related to those products. The company takes its obligation to ensure the safe and appropriate use of its medications very seriously and has a system in place to ensure that marketing and promotion policies are followed.
In addition to the District of Columbia, the 36 states participating in the settlement are: Alabama, Arizona, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Vermont, Washington, Wisconsin and Wyoming.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler: PFA survey is most positive for Medtronic, Inc. (MDT)
- loanDepot receives NYSE non-compliance notice over stock price
- Nu Skin EVP of global sales takes medical leave
Create E-mail Alert Related Categories
Corporate News, FDA, LitigationSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
