J&J Agrees To $US2BN Settlement: Report
J&J has finally blustered their way into agreeing to Buy their Way Out of trouble again with the Obama DOJ. The actual penalties charged haven't yet been finalized, but they're large enough to the unpracticed eye to Appear a to be a heinous punishment.
Here's news.com.au's opener:
"JOHNSON & Johnson has agreed to pay up to $US2.2 billion ($A2.12 billion) in a settlement for paying illegal kickbacks in the marketing of the anti-psychotic drug Risperdal, according to a newspaper report.
The Wall Street Journal, which reported the settlement on Thursday, said it would include a $400 million criminal fine. The final amount would depend on how many states accepted the settlement.
Johnson & Johnson and the US Department of Justice both declined to comment.
The Journal said Johnson & Johnson would disclose the general terms of the settlement in the next few weeks.
The company would still be allowed to sell its products to Medicare and other government health-care programs.
Notice that J&J sidestepped being booted OFF the Medicare Reimbursement bandwagon which they richly deserved, but Some Companies are Too Big to Fail (or too well connected) in August 2011; (remember that date)
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Do you think $2.2 Billion actually means S**t to J&J?
FTC Approves $21.3 Billion J&J Synthes Deal
Here's what just One of our 50 States recently charged J&J for their Risperdal shenanigans.
J&J Guilty Says Arkansas Jury In $1.25 Billion Risperdal Marketing Case
And right about that Same time, in August 2011, 40 State AGs wanted Their Own piece of J&J's Risperdal shenanigans.
J&J/FEDS Reach Deal On One Risperdal Charge
But the two events in August 2011 couldn't have any bearing on each other, right?
J&J has taken You for How Much with their Risperdal?
"this Court finds the actions of the Defendants, upon this audience, to be detestable."
Shall we review?"Annual Sales of Risperdal worldwide per annual reports of Johnson & Johnson, Inc.1994: $0.172 Billion1995: $0.343 Billion1996: $0.502 Billion1998: $0.588 Billion1999: $0.892 Billion2000: $1.083 Billion2001: $1.845 Billion2002: $2.146 Billion2003: $2.512 Billion2004: $3.05 Billion2005: $3.552 Billion2006: $4.180 Billion2007: $4.697 Billion2008: $1.309 Billion2009: $1.425 Billion2010: $1.50 BillionTotal for the period: $29.796 BillionTestimony at trial indicated that the profit margin for sales of Risperdal was 97% or $28.90 Billion for the period of 1994-2010"
And this is Less than 5 years of a 15 and 1/2 year run.
|Deaths Not From Suicide||900||788||135||357||75||48||33|
|Top 20 Adverse Drug Reactions reported for Risperidone and its Brand Names|
|Neuroleptic Malignant Syndrome||188|
|Blood Prolactin Increased||157|
And who could forget This chart topper?
94% of Drug Adverse Reactions Are Never Reported To Government Regulators
Or its B side?
Yes Dear Readers, and family members of crippled or dead Risperdal consumers, Johnson and Johnson has rocketed its way to the top of the charts with yet another hit for your summer entertainment.