08 jun: Damark/vismand: Regeringen skal finde nye penge
10 jun: Overskud i APM´s containerforretning
08-06-2012 23:47:00

J&J to Record $600 Million Charge Tied to Outstanding Lawsuits

Relateret indhold
Relateret debat
13 maj - 
We offer fresh cut bank instrument for lease/sale, such..

By Ben Fox Rubin

Johnson & Johnson (JNJ) said it plans to record a special charge of roughly $600 million in its second quarter to increase its accrual for potential legal settlements, as it has faced a series of lawsuits over accusations of bribery and improper drug-marketing practices.

The company said the settlement payments stem for a series of outstanding civil cases that involve its drugs Risperdal, Invega and Natrecor, as well as nursing-home pharmacy operator Omnicare Inc. (OCR).

The health-care products company has faced lawsuits related to alleged off-label promotion of its antipsychotic treatment Risperdal, which was once J&J's top-selling drug before generic copycats hit the market, as well as legal challenges over off-label promotion of another schizophrenia treatment, Invega, and the heart-failure drug Natrecor.

Furthermore, the federal government is suing J&J, accusing it of paying kickbacks to induce Omnicare to encourage use of Risperdal and other J&J drugs.

In addition, J&J has dealt with state lawsuits regarding its promotion of Risperdal, including an Arkansas case in which the company in April was ordered to pay $1.2 billion after a jury found that J&J's past marketing of the drug violated the state's consumer-protection laws. J&J previously was ordered to pay $327 million in a South Carolina case and $258 million in Louisiana. The company is appealing all three cases.

In January, J&J agreed to settle a Texas case for $158 million.

Meanwhile, the company agreed to pay an $85 million fine in a criminal case regarding off-label marketing of Natrecor. Parallel civil litigation still hasn't been settled.

The company in April said its first-quarter earnings rose on a foreign-exchange-related gain tied to an acquisition and lower expenses.

Shares closed Friday at $62.98 and were unchanged after hours. The stock is down 4% so far this year.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

(END) Dow Jones Newswires

June 08, 2012 17:47 ET (21:47 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Danske Bank får løftet pegefinger af Finanstilsynet

07-07-2015 16:21:10
Finanssektorens vagthund, Finanstilsynet, er ikke udtalt tilfreds med Danske Banks risikostyring og vil løbende holde øje med, om bankens styring er tilstrækkel..

B&O: Britiske myndigheder kigger på salg til Harman - GENT

07-07-2015 12:28:53
De britiske konkurrencemyndigheder overvejer, om Bang & Olufsens salg af selskabets bilstereoaktiviteter til amerikanske Harman International risikerer at gå ud..

Aktier/åbning: Bavarian stryger til tops efter ny koppeordre

07-07-2015 09:36:08
Bavarian Nordic ligger i den absolutte top på fondsbørsen tirsdag morgen. Selskabet, der før fondsbørsens åbning meddelte, at det har fået en ny ordre af den am..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Græsk: IMF afviser at udbetale penge til Grækenland
2
Aktier/tendens: Den græske sitiation er regnet ind i aktierne
3
Euroformand: Det bliver svært efter græsk nej
4
Aktier/åbning: Bavarian stryger til tops efter ny koppeordre
5
Danske Bank får løftet pegefinger af Finanstilsynet

Relaterede aktiekurser

Johnson & Johnson 98,92 0,7% Stigning i aktiekurs
Omnicare Inc 94,61 0,1% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2015  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
8. juli 2015 04:33:40
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20150706.1 - EUROWEB3 - 2015-07-08 04:33:40 - 2015-07-08 04:33:40 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x