johnson & johnson (JNJ) Key Developments
Arkansas Supreme Court Hears Johnson & Johnson Appeal of $1.2 Billion Risperdal Verdict
Feb 28 14
As Risperdal lawsuits that allege the medication caused gynecomastia (male breast growth) and other serious side effects continue to mount in courts around the country, Bernstein Liebhard LLP reported that the Arkansas Supreme Court has now heard Oral Arguments in Johnson & Johnson's appeal of a Risperdal verdict that resulted in a $1.2 billion judgment being awarded to the state in 2011. The Risperdal lawsuit in question was filed by the Arkansas Attorney General in 2007, and accused Johnson & Johnson and its Janssen Pharmaceutical unit of improperly marketing the atypical antipsychotic. (State of Arkansas v. Ortho-McNeil-Janssen Pharmaceuticals Inc., CV07-15345). In arguments before the Arkansas Supreme Court, an attorney for Johnson & Johnson asserted that the trial judge who oversaw the Risperdal lawsuit had misapplied the law, and maintained that there was no fraud or improper reimbursements for Medicaid patients who were prescribed the drug. In presenting its case, an attorney representing the State of Arkansas denied Johnson & Johnson's assertions, and insisted the defendants committed fraud by failing to properly communicate Risperdal's risks and marketing the medication for off-label use.
Johnson & Johnson Mulls Acquisitions
Feb 26 14
Johnson & Johnson (NYSE:JNJ) has filed a shelf registration. The proceeds to be received by us from sales of the debt securities will be used for general corporate purposes, including working capital, capital expenditures, stock repurchase programs, repayment and refinancing of borrowings and acquisitions.
Multidistrict Pelvic Mesh Trial Begins in Charleston Lawsuit Against Johnson & Johnson, Ethicon, Inc., ETHICON Womens Health & Urology Sarl, American Medical Systems, Inc. and Gynecare
Feb 11 14
Trial began on February 10, 2014 in the case brought by women who say the mesh used to treat stress urinary incontinence led to pain and permanent injury because of its defective design. However, attorneys for the companies said the plaintiffs never complained about problems from the mesh until after they filed the lawsuit and said the product was not defective. Carolyn Lewis, Kenneth Lewis, Augistina Brown-Singletary, Andre Singletary-Smith, Karin Harrison, Robert Harrison, Patricia Headrick, Darrell Headrick, Katie Uszler, Nick Uszler, Kelly Young and Kenneth Young originally filed the lawsuit in July 2012 in the Northern District of Texas. Lewis received surgery in 2009, where doctors implanted the TVT, or transvaginal tape. The suit alleges because of the defective design of the product, Lewis experienced pain when she emptied her bladder and during sex. Defendants in the case are Johnson & Johnson, Ethicon Inc., Ethicon Women's Health and Urology, Gynecare and American Medical Systems Inc. This is the first case against Ethicon. This case and others later were transferred to the Southern District of West Virginia as part of larger federal multidistrict litigation.
Johnson & Johnson Wins Appeal of $257 Million Louisiana Risperdal Verdict
Jan 29 14
Johnson & Johnson has been successful in its bid to have a $257 million verdict rendered in a Louisiana Risperdal lawsuit overturned, Bernstein Liebhard LLP reports. According to court documents, the Louisiana Supreme Court voted 4-3 to reverse a 2012 decision by a state appeals court to uphold the verdict, ruling that Louisiana prosecutors hadn't proven that Johnson & Johnson violated the state's healthcare assistance laws by making misleading statements that convinced doctors to prescribe the atypical antipsychotic, even though there were less expensive and safer alternatives available. (Caldwell v. Janssen Pharmaceutical Inc., Civil Action 2012-C-2466, Supreme Court of Louisiana). According to a report from Reuters, the Louisiana Risperdal lawsuit was not part of the $2.2 settlement that Johnson & Johnson reached with the U.S. Department of Justice in November 2013. The federal case also involved allegations that Risperdal was improperly marketed by the company and its Janssen Pharmaceuticals unit. Court documents indicate that Risperdal is the subject of more than 200 product liability claims pending in a consolidated litigation in Philadelphia Common Pleas Court in Pennsylvania. Dozens of these lawsuits were filed on behalf of alleged victims of Risperdal gynecomastia, a condition marked by the excess development of male breast tissue. Plaintiffs in these Risperdal lawsuits allege that Johnson & Johnson and Janssen concealed this risk from patients and doctors. The claims also assert that the companies improperly marketed Risperdal for use in children long before the drug was cleared for such uses in 2006. (Risperdal Litigation, case number 100300296). The settlement announced by the U.S. Department of Justice this past November resolved allegations that Johnson & Johnson and Janssen improperly promoted Risperdal and other drugs. Among other things, federal prosecutors had also charged that Risperdal was improperly marketed to children, and accused the companies of concealing its association with male breast growth. As part of the settlement, Johnson & Johnson and Janssen pled guilty to a single criminal misdemeanor charge of misbranding the medication as a treatment for elderly dementia patients. However, the companies did not admit wrongdoing in resolving the charges pertaining to the marketing of Risperdal for children. Alleged victims of Risperdal male breast growth may be entitled to compensation for medical bills, lost wages, pain and suffering and more.
Johnson & Johnson Presents at Citigroup 2014 Global Healthcare Conference, Feb-24-2014 08:00 AM
Jan 28 14
Johnson & Johnson Presents at Citigroup 2014 Global Healthcare Conference, Feb-24-2014 08:00 AM. Venue: Hilton New York, 1335 Avenue of the Americas (Between West 53rd - West 54th Streets), New York, NY 10019, United States. Speakers: Joaquin Duato, Worldwide Chairman of Pharmaceuticals.