Johnson & Johnson hit as jury awards 'excessive' US$8 billion in damages

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Shares of Johnson & Johnson dipped 2per cent on Wednesday after a jury awarded US$8 billion in punitive damages to a man who accused the drugmaker ...

REUTERS: Shares of Johnson & Johnson dipped 2per cent on Wednesday after a jury awarded US$8 billion in punitive damages to a man who accused the drugmaker of failing to warn that young men using its antipsychotic drug Risperdal could grow breasts.

" I think the stock reaction shows how sensitive investors are about litigation-related concerns for Johnson & Johnson." In 2013, Johnson & Johnson paid more than US$2.2 billion to resolve civil and criminal investigations by the U.S. Department of Justice into its marketing of Risperdal and other drugs.

 

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