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J&J Ordered To Pay Record Amount For Its Antipsychotic Drug Believed To Have Caused Gynecomastia

By John F. Heerdink, Jr.

Reportedly, Johnson & Johnson has been asked to pay $8 billion as penalty charges to Nicholas Murray,who previously won $680,000 over his claims where J&J failed to alert young men over usage of its antipsychotic drug Risperdal causing gynecomastia, growth enlargement of male breasts, in a verdict passed by the Philadelphia Court of Common Pleas in favor of Nicholas Murray.

Murray now 26, claimed that he developed breasts after the medicine was prescribed to him at a young age. His doctors prescribed him Risperdal off the prescription in 2003 after he was diagnosed with autism spectrum disorder by a psychologist. The drug had received approval from the Food and Drug Administration in 1993 to treat schizophrenia and bipolar mania in adults.

“This jury, as have other juries in other litigations, once again imposed punitive damages on a corporation that valued profits over safety and profits over patients,” stated Murray’s lawyers, Tom Kline and Jason Itkin, in a joint statement. “Johnson & Johnson and (subsidiary) Janssen chose billions over children,” they added.

J&J stated “grossly disproportionate with the initial compensatory award in this case, and the company is confident it will be overturned.”

Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services. To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Jury says J&J must pay $8 bln in case over male breast growth linked to Risperdal in Reuters)


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