Litigation surrounding the antipsychotic drug expected to continue to grow
SAN DIEGO, CALIFORNIA, UNITED STATES, March 1, 2017 /EINPresswire.com/ — 18,500. That’s how many Risperdal lawsuits are pending against Johnson & Johnson and its subsidiary Janssen Pharmaceuticals nationwide, according to J&J’s latest annual report filed Monday.
The lawsuits stem from allegations the companies’ antipsychotic drug Risperdal can cause breast growth in young boys, a condition known as gynecomastia.
J&J says it continues to receive information about the anticipated number of Risperdal cases and expects more lawsuits to be filed in the future. In other words, the number 18,500 could become even bigger.
The majority of Risperdal lawsuits are filed in state courts in California, Pennsylvania, and Missouri, but more are filed in courts across the country.
The giant mass tort centralized in Philadelphia’s Court of Common Pleas has already rendered multimillion-dollar verdicts against J&J and Janssen.
The largest Risperdal verdict out of Philadelphia – a massive $70 million judgment – was handed down in July 2016 in favor of a Tennessee boy who developed gynecomastia after taking Risperdal. The award was later increased to $76 million and is on appeal in Pennsylvania’s Superior Court.
Janssen has since settled several Risperdal cases in the days leading up to their scheduled jury trials.
In spite of these multimillion-dollar verdicts and undisclosed settlements, J&J says it doesn’t expect the litigation to have a huge impact on its bottom line.
In its annual report, J&J wrote:
“In the Company's opinion, based on its examination of these matters, its experience to date and discussions with counsel, the ultimate outcome of legal proceedings … is not expected to have a material adverse effect on the Company's financial position.”
But Risperdal lawsuits aren't the only litigation J&J and its various subsidiaries are currently fighting. The conglomerate faces thousands of lawsuits involving its DePuy and Pinnacle hip implants, baby powder product, blood thinning drug Xarelto, and over 54,000 pelvic mesh lawsuits.
Still, J&J believes “it has substantial defenses in these matters,” according to its annual report.
About Risperdal & Risperdal Lawsuits
Risperdal is an antipsychotic medication used to treat schizophrenia, symptoms related to bipolar disorder and autism, and other mental health disorders.
It was approved by the U.S. Food and Drug Administration in 1993 for the treatment of schizophrenia in adults. It would not be approved for treatment in children until 2006, despite being prescribed off-label to kids for a number of years.
In 2013, Janssen agreed to pay more than $1.39 billion as part of a settlement agreement resolving claims it illegally marketed Risperdal for use in children, among other allegations.
Risperdal patients who experienced side effects like gynecomastia may be able to file a Risperdal lawsuit of their own. Schmidt National Law Group is currently seeking claimants and is in the process of filing claims related to Risperdal and gynecomastia. Contact us today at 1-800-214-1010 or visit our website to learn more.
About Schmidt National Law Group
Schmidt National Law Group is a personal injury firm located in San Diego, Calif. Its team of experienced attorneys represents victims of all types of injuries, including those harmed by pharmaceutical drugs and medical devices.
Schmidt National Law Group’s team of attorneys, medical professionals, writers, and case managers fight every day for the rights of the injured. Martin Schmidt, a trial attorney with 30 years experience, has been recognized as a leading personal injury attorney and was chosen as one of the "Top 100 Trial Lawyers" by the American Association for Justice in 2015 and 2016.
Schmidt National Law Group
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Source: EIN Presswire