Where J&J $2.2B Settlement Fits Among Biggest
Johnson & Johnson’s (JNJ) agreement to pay $2.2 billion for off-label marketing of the anti-psychotic drug Risperdal brings to more than $11 billion the amount of penalties pharmaceutical makers have been assessed for getting doctors to prescribe drugs for purposes other than approved by the FDA.
Known, as off-label marketing, the practice has helped boost drug sales over the years but frustrated regulators and law enforcement officials.
J&J’s settlement is huge, but not the largest. Here’s a not-entirely-comprehensive list, onto which J&J would become No. 2.
1. Pfizer (PFE) - $2.3 billion, 2009
2. Abbott (ABT) - $1.5 billion, 2012,
3. Eli Lilly (LLY) - $1.415 billion, 2009
4. Merck Sharp & Dohme - $950 million, 2011
5. TAP Pharmaceuticals - $875 million, 2001
6. Serono, S.A. - $704 million, 2005
7. Purdue Pharma - $634 million, 2007
8. Allergan (AGN) - $600 million, 2010
9. AstraZeneca (AZN) - $520 million, 2010
10. Bristol-Myers Squibb (BMY) - $515 million, 2007
Risperdal allegations have been public for years, so the settlement wasn’t entirely surprising and J&J stock took it in stride.
Jeff Bailey, The Editor of YCharts, is a former reporter, editor and columnist at the Wall Street Journal and New York Times. He can be reached at email@example.com. Read the RIABiz profile of YCharts. You can also request a demonstration of YCharts Platinum.