Johnson & Johnson has reported strong profits for the third quarter highlighted by strong pharmaceutical sales despite the fact that it is facing a number of product liability lawsuits. According to an earnings statement, the company reported net earnings of $4.3 billion, or $1.53 earnings per share on revenue of $17.8 billion. The company, which sells a range of products from medical devices to over-the-counter and prescription drugs, reported global pharmaceutical sales of $8.4 billion for the quarter, an increase of 9.2 percent over the previous year. Meanwhile, the pharmaceutical company had been charged with improperly promoting the drug and subsequently paid $2 billion in penalties and in Risperdal lawsuit settlements.
What is Risperdal Used to Treat?
Risperdal is a drug that has been approved by the U.S. Food and Drug Administration (FDA) for treatment of bipolar disorder and schizophrenia. Originally, Risperdal was given to adults and teenagers 13 years or older. Eventually, the drug began to be used for treatment of behavioral disorders and among adolescents and children with autism. The drug essentially works by affecting or altering the way the body creates certain hormones. The outcome is generally a calming therapeutic effect.
What are the Risperdal Lawsuits Claiming?
The Risperdal lawsuits allege that the FDA originally approved the drug only for a limited number of uses including schizophrenia. However, the drug was never FDA approved for the treatment of behavioral disorders linked to autism. Litigants also claim the FDA never approved the use of this drug for younger patients or in elderly patients. Many of these patients report that after taking Risperdal they began to grow female breasts.
In light of this, Johnson & Johnson continued to aggressively market Risperdal to the elderly and to young boys while allegedly manipulating and concealing the data about the risk for the development of breasts. The pharmaceutical company has been charged with improperly promoting and marketing the drug and subsequently paid numerous fines to federal officials. Currently, the makers of Risperdal are facing about 13,000 Risperdal lawsuits alleging the drug caused serious side effects, such as gynecomastia.
Contact an Experienced Risperdal Lawyer
If you or someone you know has developed gynecomastia after taking the drug Risperdal, you may be able to receive compensation for your medical bills, lost income and pain and suffering, among other losses. Our firm is working with experienced Risperdal lawyers across the country who are investigating these cases. They may be able to file a Risperdal lawsuit for you, and they charge no fee unless you win an award or settlement. For a free (no obligation) case evaluation, call our toll free number at 1-800-992-6878 or fill out a contact form online.