J&J Anticipates $2.2 Billion Settlement with Justice Dept.

Kermit Cole
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In a compulsory filing with the Securities and Exchange Commission, Johnson & Johnson indicates an “agreement in principle” with federal prosecutors to “resolve” “criminal charges pursuant to a single misdemeanor violation” of federal law. News reports suggest the case may result in a payment of up to $2.2 billion.

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Of further interest:
Public disclosure to the SEC? Sure. How about a jury? (Philadelphia Inquirer)

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Kermit Cole
Kermit Cole, MFT, founding editor of Mad in America, works in Santa Fe, New Mexico as a couples and family therapist. Inspired by Open Dialogue, he works as part of a team and consults with couples and families that have members identified as patients. His work in residential treatment — largely with severely traumatized and/or "psychotic" clients — led to an appreciation of the power and beauty of systemic philosophy and practice, as the alternative to the prevailing focus on individual pathology. A former film-maker, he has undergraduate and master's degrees in psychology from Harvard University, as well as an MFT degree from the Council for Relationships in Philadelphia. He is a doctoral candidate with the Taos Institute and the Free University of Brussels. You can reach him at [email protected]

2 COMMENTS

  1. I’d love to see a complete worldwide total for pharma penalties from governments, and big class actions, worldwide, rolled into one multibillion dollar figure. I want to know.

    *Not that corporate pharma could ever in a hundred years destroy as many lives as biopsychiatry could with its DSM and generic drugs alone.

  2. It seems great that companies are fined, but for them it is just the cost of doing business. They will recover their losses by increasing the price of their drugs, so who pays in the end? Taxpayers and patients. Personal jail time would be the deterrent. One executive got 30 days because the pills were too big! Seems like with a bit of creativity it should be possible to get an executive for manslaughter.