Pharmaceutical giant Johnson & Johnson (NYSE: JNJ) has agreed to pay over $2.2 billion to settle criminal and civil claims related to the marketing of antipsychotic drug Risperdal and other medications. The lawsuits alleged that JNJ marketed the medications for off-label uses. The Justice Department also said that the company paid kickbacks to a major pharmacy. JNJ has agreed to pay $485 million in criminal fines and forfeiture and $1.72 billion in civil settlements with the federal government and states.
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Buffett Bullish on Oil Stocks (BRK.A, NOV, PSX, INTC, COP, JNJ, PG, BK, DTV)
Warren Buffett’s investment company Berkshire Hathaway Inc. (NYSE: BRK.A) added new positions in National Oilwell Varco (NYSE: NOV) and Phillips 66 (NYSE: PSX), suggesting that the billionaire investor is bullish on oil companies.
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Johnson & Johnson Expects to Take a $600 Million Charge in Q2 (JNJ)
Johnson & Johnson (NYSE: JNJ) on Friday said that it plans to take a special charge of $600 million in the second quarter in order to boost its reserves for a possible settlement of civil lawsuits related to Risperdal, Invega, Natrecor and Omnicare.
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