Johnson & Johnson (JNJ) to Pay $158 Million to Settle Texas Risperdal Case
1/20/2012 6:37:27 AM
Johnson & Johnson said on Thursday it will pay $158 million to settle a Texas lawsuit accusing the drugmaker of improperly marketing its Risperdal anti-psychotic drug to state residents on the Medicaid health program for the poor. The settlement fully resolves all Risperdal-related claims in Texas, the company said. The agreement is specific to the state of Texas and does not involve other ongoing state or federal Risperdal litigation. The deal settles claims brought by Texas in 2004 and involves alleged Medicaid overpayments during the years 1994 to 2008 "and will circumvent potentially lengthy and costly appellate activities," according to a statement from J&J's Janssen Pharmaceuticals unit.