Johnson & Johnson lost a $257.7 million jury verdict in Louisiana for making misleading claims about the safety of the company’s Risperdal antipsychotic drug.
J&J officials defrauded the state’s Medicaid system by wrongfully touting Risperdal as superior to competing antipsychotic drugs and minimizing its links to diabetes, said jurors in state court in Opelousas, Louisiana.
FOR decades, antipsychotic drugs were a niche product. Today, they’re the top-selling class of pharmaceuticals in America, generating annual revenue of about $14.6 billion and surpassing sales of even blockbusters like heart-protective statins. Lawyers suing AstraZeneca say documents they have unearthed show that the company tried to hide the risks of diabetes and weight gain associated with the new drugs. Positive studies were hyped, the documents show; negative ones were filed away. According to company e-mails unsealed in civil lawsuits, AstraZeneca “buried” — a manager’s term — a 1997 study showing that users of Seroquel, then a new antipsychotic, gained 11 pounds a year, while the company publicized a study that asserted they lost weight. Company e-mail messages also refer to doing a “great smoke-and-mirrors job” on an unfavorable study.
Pharmaceutical manufacturer AstraZeneca, based in Wilmington, Del., has agreed to pay $520 million to settle allegations that it had illegally marketed its antipsychotic drug Seroquel, according to an AZ Central news report.
In July, the Washington Post reported that Corporate America is hoarding a record $1.8 trillion in cash while it waits for profit-making opportunities. At the same time, record numbers of American children are being prescribed toxic psychiatric drugs at earlier ages. These two facts are connected. The corporate class stole its trillions from us, by exploiting workers at home and abroad – paying us less than our labor is worth – and by laying off workers and squeezing the rest to work a lot harder for much less.
Remember not so long ago when Prozac became the world’s largest selling medication of any kind, and then for years how Prozac, Paxil and Zoloft took over many of the top 10 spots? Remember the explanations at the time–that they were wonder drugs and that 15-50 percent or more of Americans would need them some time in their lives? To many people this seemed like a scientific breakthrough when in reality it was … a triumph of marketing.