WSJ: J&J, feds finalize settlement of up to $2.2B

The oft discussed but not yet publicly announced settlement between Johnson & Johnson ($JNJ) and the Department of Justice has been concluded for an amount that could reach $2.2 billion. Or at least that is what sources are telling The Wall Street Journal.

The final amount will depend on how many states pile onto the deal and how many decide to go it alone in hopes of reaping more money from the drug and consumer products company. The settlement includes a host of violations, including marketing misbehavior for J&J's antipsychotic drug Risperdal.

The deal reportedly includes a $400 million fine but leaves J&J the ability to continue to sell drugs to government programs like Medicare. The newspaper says the company is expected to announce the deal in a few weeks.

It would also settle litigation over marketing practices involving Invega, another antipsychotic, and Natrecor, a congestive heart failure treatment. The company had already pleaded guilty to misbranding Natrecor and agreed to pay an $85 million fine.

In the last two quarters, Johnson & Johnson has set aside about $1.7 billion to cover the the potential settlement, the Journal reports.

- here's The Wall Street Journal story

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