Johnson & Johnson has set aside a reserve related to the federal investigation of its sales and marketing practices for Risperdal, an antipsychotic drug that is one of the healthcare giant's largest sellers, according to a Bloomberg Businessweek report.
The company did not disclose the amount of the reserve, which was mentioned in its quarterly financial filing with the Securities and Exchange Commission.
The probe, which began in 2004, is focusing on whether J&J illegally promoted sales of Risperdal for unapproved uses from 1997-2002. The Department of Justice and the U.S. Attorney in Philadelphia are actively pursuing both criminal and civil actions against J&J, according to its quarterly SEC filing submitted late Tuesday.
Read the Bloomberg Businessweek report on Johnson & Johnson.
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The company did not disclose the amount of the reserve, which was mentioned in its quarterly financial filing with the Securities and Exchange Commission.
The probe, which began in 2004, is focusing on whether J&J illegally promoted sales of Risperdal for unapproved uses from 1997-2002. The Department of Justice and the U.S. Attorney in Philadelphia are actively pursuing both criminal and civil actions against J&J, according to its quarterly SEC filing submitted late Tuesday.
Read the Bloomberg Businessweek report on Johnson & Johnson.
Related Articles on Pharmaceutical Companies and Fraud:
Forest Laboratories CEO Howard Solomon May Face Ban From Federal Health Programs
Drugmaker Cardinal Health Pays $8M to Settle Kickback Allegations
Harvard Drug Group Pays $8M to Settle Claims of Failure to Report Suspicious Drug Orders