JOHNSON & JOHNSON CLOSE TO $1.5 TO $2 BILLION SETTLEMENT WITH GOVERNMENT WSJ SAYS

Johnson & Johnson is close to reaching a settlement with the United States Justice Department relating to its promotion of the anti psychotic drug Risperdal for unapproved uses and could pay as much as $1.5 to $2 billion, the Wall Street Journal reports. In 2009, Pfizer agreed to pay $2.3 Billion to settle an investigation into the illegal promotion of withdrawn drug Bextra-the largest penalty to date by a drugmaker for illegal amrketing. Risperdal is approved for the treatment of schizophrenia, a bipolar disorder and irritabilityassociated with autism.