Johnson & Johnson Slapped With $1.1B Fine for Risperdal Marketing

New Brunswick, N.J.-based Johnson & Johnson has been ordered to pay more than $1.1 billion in fines for misleading physicians and patients about the risks of its antipsychotic drug Risperdal, according to a Bloomberg report.

Arkansas Judge Tim Fox found J&J and its subsidiary, Janssen, committed more than 238,000 violations of Arkansas' Medicaid fraud laws while marketing Risperdal in a roughly four-year time span, beginning in 2002. The judge implemented a fine of $5,000 for each violation. The combined penalty is 11 percent of J&J's 2011 net income.

A spokesperson for the Janssen unit of J&J said the company is "disappointed with the judge's decision on the penalties." The company plans to appeal if its motion for a new trial is denied.

More Articles on Pharmaceutical Companies:

Pfizer Nears Settlement Over Alleged Bribery
GlaxoSmithKline Settles Case Over Drug Pricing, Marketing With $3B
Pfizer Resolves False Claims Allegations With $14.5M Settlement

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