A Johnson & Johnson (NYSE:JNJ), announced has reached an agreement with 36 states and the District of Columbia to settle claims related to promotional and marketing practices for its antipsychotic medication RISPERDAL®.
Related to this matter, the Company will reimburse about $181 million, a quantity which has been earlier accumulated, as part of a permission ruling to decide state consumer defense law alleges in the 36 states and the District of Columbia. A nominated segment of the total amount will be paid to each state contributing in the resolution.
The agreement is not an admittance of unlawful activity or infringement of any law or regulation. The company settled to the resolution to decide the concerns of the legal representatives common under state consumer safety laws and to keep away from needless expense and a extended legal process. All parties have recognized that the imbursement is not a fine or punishment.
Johnson & Johnson (NYSE:JNJ) is currently trading at $67.08 and slipped -0.43% with the total traded volume of 4.03 million shares. Its fifty two week range was $58.64-$69.13. The total market capitalization remained $185.74 billion.
JNJ is ahead its 52 week low with 14.40% and its last month price volatility remained 0.84%. Its beta coefficient was 0.54 with a target price of $73.73. In its share capital JNJ has 2.76 billion outstanding shares and all shares have been floated in market. JNJ has insider ownership of 0.04% with its institutional ownership remained 67.07%. Company’s current year earnings per share grew with 2.71% while the five year EPS growth rate was +1.37%.