J&J acknowledges what everyone knows, it settled with DoJ

Buried deep in Thursday's quarterly report filing is Johnson & Johnson's ($JNJ) acknowledgement that it has an agreement to settle criminal cases brought by the Department of Justice and some states over its overly aggressive marketing of its antipsychotic, Risperdal, and a few other matters. It also says it has a settlement in principle with 38 states, but the filing says some may opt out and that it doesn't believe Arkansas, Louisiana and South Carolina will join the deal. The public disclosure of the open secret does not put a dollar amount on the deals, but The Wall Street Journal has reported it will reach up to $2.2 billion. Even if it hits that mark, it is significantly less than the $3 billion settlement announced in July by GlaxoSmithKline ($GSK). Story | More