December 6th, 2013

Big Pharma’s Big Payouts

By Julian Hills

Big Pharma’s Big Payouts

The last couple of years have been a bitter pill for Big Pharma. Many of the top pharmaceutical companies have paid record-breaking, multibillion-dollar settlements since 2010 for withholding the health risks of their medications, manufacturing defective medical devices and illegally marketing  drugs for off-label purposes, among other improprieties.

Johnson & Johnson — one of the world’s top five drugmakers — agreed to pay nearly $5 billion to settle claims against their products in November. A report by Public Citizen, a health care advocacy group based in Washington, D.C., ranks the largest settlements by drugmakers, and shows these companies paid out 74 settlements to the tune of $10.2 billion from Nov. 2010 to July 2012. The report does not include J&J’s recent settlements.

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