Shares of Johnson & Johnson dipped 2% on Wednesday after a jury awarded $8 billi...
- Shares of Johnson & Johnson dipped 2% on Wednesday after a jury awarded $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.
But several said that J&J’s shares were now exposed to fears among investors that it would be hammered by further litigation costs as it battles other claims over Risperdal, its opioid treatments and talcum powder. Wells Fargo analyst Lawrence Biegelsen said the $8 billion figure will “almost certainly be reduced”.
In 2013, Johnson & Johnson paid more than $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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