Yesterday, a Philadelphia jury awarded an $8 Billion verdict in punitive damages against Johnson & Johnson (the folks who brought us the opioid epidemic) for the deceptive marketing of their drug Risperdal. The award was provided to a man who had been prescribed the anti-pschotic drug Risperdal at age 9 to treat symptoms of autism. Risperdal has been claimed to cause young boys to develop breasts, a condition known as gynecomastia. The jury agreed that Johnson & Johnson downplayed the risk that its drug could lead to breast growth in boys. The law firm representing the plaintiff also represents more than 10,000 other people in similar lawsuits.
Johnson & Johnson has also been punished by juries in the last few years with huge verdicts over its baby powder and opioids. Today in trading, shares of Johnson & Johnson slid 2%