For decades, Johnson & Johnson has been a corporate pillar in the pharmaceutical industry. After being hit with multiple product liability lawsuits, it appears that the company's rock-solid foundation is crumbling. Although Johnson & Johnson grosses more than $65 billion annually, public confidence is dwindling. Recently, the company set aside $600 million to pay a massive fine. Media outlets report that the funds will cover settlements on multiple lawsuits. These suits were related to improperly marketing several pharmaceuticals and for bribing officials overseas.
Legal actions ongoing
In court, J&J is battling lawsuits regarding the antipsychotic medication Risperdal®. The company was sued for failing to publish information about the drug's risks. In April 2012, the judge handling the case rendered a $1.1 billion verdict. A J&J spokeswoman said that the company would be appealing the ruling or seeking a new trial. On top of this massive award, J&J is facing lawsuits in other states. Judges for two of these cases ordered the company to pay nearly $600 million for similar allegations regarding Risperdal. J&J also paid $158 million to settle a Risperdal case in another state.
Johnson & Johnson is also facing lawsuits related to the medications Invega® and Natrecor®, which the company allegedly marketed for unapproved uses. Amid this never-ending stream of lawsuits, J&J has been charged with distributing kickbacks to artificially increase the sales of Risperdal to nursing home patients. If these allegations are true, Johnson & Johnson will be facing more penalties. The company's new CEO, who was hired in late April 2012, has said publicly that the company is attempting to restore its image and to boost the confidence of consumers and investors.
These judgments should warn patients in Illinois who are currently taking any of these medications. Patients should discuss the potential risks with their doctor. If you believe you have been injured by a Johnson & Johnson medication, call the experienced medical product liability attorneys at the Phillips Law Offices in Chicago.