J&J To Pay $2.2 Billion To Settle Risperdal Probe - Report
Johnson & Johnson (NYSE: JNJ) has agreed to settle a probe into sales of its antipsychotic drug Risperdal and other medications for as much as $2.2 billion, Bloomberg reported Monday, citing two people familiar with the matter.
The settlement could be announced as early as this week and would include a criminal penalty of as much as $600 million, as well as a misdemeanor plea. This could be the second-largest settlement with the U.S. government after a $2.3 billion agreement Pfizer Inc. (NYSE: PFE) struck in 2009 to settle an investigation of improper drug marketing related to its Bextra painkiller.
The accord would also resolve civil claims against New Brunswick, N.J.-based J&J, alleging kickbacks to Omnicare Inc. (NYSE: OCR), a health care services company that dispenses drugs in nursing homes.
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