Johnson & Johnson Gets Punitive Damages in Risperdal Case Reduced to $6.8 Million
Healthcare giant Johnson & Johnson (NYSE: JNJ) got good news on Friday when a Philadelphia judge drastically reduced the $8 billion punitive damage verdict the company was initially ordered to pay in October down to just $6.8 million.
The original fine was awarded by a jury to a plaintiff who experienced unwanted side effects from the company's Risperdal medication, which is used to treat people with schizophrenia, bipolar disorder, and it also helps people with autism. The plaintiff in the case, Nicholas Murray, began taking the medication as a child to treat behaviors related to autism, but the drug caused the young man to grow breasts -- a condition called gynecomastia.
The punitive damages were in addition to a $680,000 compensatory award the plaintiff would receive. Johnson & Johnson challenged the ruling, and today it learned of the reduction to the punitive fees.
Source Fool.com
