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TEVJF - Johnson & Johnson's $8bn Fine Gets Thrown Out And Other News: The Good Bad And Ugly Of Biopharma
Teva Pharmaceutical Industries Ltd
Johnson & Johnson (JNJ) received a breather as a Philadelphia judge slashed the amount of punitive damages imposed on the company. The damages pertained to the product liability lawsuit related to antipsychotic med Risperdal or risperidone. The plaintiff was initially awarded $680K in compensatory damages and $8 billion in punitive damages. It is the latter part which has now been reduced to only $6.8 million.
The original verdict was passed in October 2019 and was the first to award punitive damages against Janssen Pharmaceuticals, which is a subsidiary of Johnson & Johnson. The