Johnson & Johnson (JNJ) Gets $1.2 Billion Risperdal Judgment Tossed Out
3/21/2014 7:34:00 AM
Johnson & Johnson (JNJ:US) persuaded the Arkansas Supreme Court to throw out a $1.2 billion award against the drugmaker over its marketing of the antipsychotic drug Risperdal, erasing the biggest state verdict involving the controversial medicine. Arkansas’s highest court concluded today that state officials relied on the wrong law to challenge the Risperdal marketing campaign and that a judge erred in setting the $1.2 billion in fines for violations of the state’s Medicaid fraud statute. J&J’s Janssen unit was accused of making misleading claims about Risperdal’s effectiveness and downplaying its diabetes risks on warning labels.
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