J&J Settles Texas Lawsuit (JNJ)

Published January 19, 2012, 11:43am ET · 1 min read

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The Janssen Pharmaceuticals unit of Johnson & Johnson (NYSE: JNJ) has reached an agreement with the state of Texas to pay $158 million to settle all claims related to overcharging the state’s Medicaid program for the anti-psychotic drug Risperdal from 1994-2008. MarketWatch reports that the original plaintiff, his attorneys, the state of Texas, and the federal government will share the settlement amount.

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Paul Ausick

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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