Pharmaceutical giant Johnson & Johnson has agreed to pay $7.8 million to settle a seven-and-a-half-year-old Risperdal lawsuit, the Arkansas Democrat-Gazette reports. The state of Arkansas filed the lawsuit in 2007, alleging that Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson, unlawfully marketed its antipsychotic drug Risperdal to Arkansas doctors.
The lawsuit claimed that Johnson & Johnson put patients at risk by not fully disclosing the ...
continue reading...Costco Wholesale Corp. has filed a lawsuit against Johnson & Johnson, accusing the medical device and drug giant’s Vision Care, Inc., of engaging in price fixing with its contact lenses, The Wall Street Journal reports. The lawsuit was made public in Johnson & Johnson’s recent quarterly report to the U.S. Securities and Exchange Commission.
According to the report, Costco filed the complaint in March of ...
continue reading...The Massachusetts Supreme Judicial Court has upheld a $63 million lawsuit brought against pharmaceutical giant Johnson & Johnson by the family of a girl who developed the life-threatening skin condition known as SJS/TEN after taking Children’s Motrin.
In 2003, the seven-year-old Massachusetts girl developed a rare but potentially fatal skin disorder called toxic epidermal necrolysis after taking Children’s Motrin. As a result of the condition, the girl lost 90 percent ...
continue reading...Johnson & Johnson Chairman and Chief Executive Alex Gorsky’s total pay rose 48 percent in 2014, an article from the Wall Street Journal Reports. Board members say they made the decision based on Johnson & Johnson’s success in achieving short- and long-term financial goals and building on the momentum of its pharmaceutical business.
Despite these positive reviews, 2014 was a year fraught with ...
continue reading...Johnson & Johnson’s subsidiary company, McNeil Consumer Healthcare, has agreed to pay $25 million in settlements after pleading guilty to selling infants’ and children’s over-the-counter liquid medicine containing metal particles, an AP article reports. McNeil admits failing to take proper action after finding that metal particles, including iron, nickel, and chromium, were introduced to Tylenol and Motrin products during manufacture at a plant in ...
In 2014, the FDA Center for Drug Evaluation and Research approved the most drugs since 1996. The FDA approved 41 novel medications last year, 62% more than the 27 approved in 2013. The only year that topped 2014 was 1996, when 53 new drugs were approved.
The new drug approvals consisted mostly of innovative, expensive treatments where competition is limited and costs of treatment can often exceed $100,000 per patient per year. Infectious ...
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