Johnson & Johnson to appeal $8B Risperdal judgment

Predictably, Johnson & Johnson (NYSE:JNJ) intends to appeal the $8B in punitive damages awarded by a Philadelphia jury to a man who claimed that the company failed to adequately warn about the risk of breast growth associated with the antipsychotic med Risperdal (risperidone).

The company regards the award as “grossly disproportionate” with the initial compensatory award of $680K and a violation of due process, adding that U.S. Supreme Court precedent dictates that punitive damages that are double-digit multiples of compensatory awards should be set aside.

Shares are down 2% premarket on light volume.

https://seekingalpha.com/news/3504671-johnson-and-johnson-appeal-8b-risperdal-judgement