Largest Settlement Paid by a Pharmaceutical Company Ever
The largest lawsuit settlement in history by a pharmaceutical company was reached by Johnson & Johnson in 2020, in a case involving its antipsychotic drug Risperdal. The company was ordered to pay over $2 billion in damages.
This lawsuit claimed that the company marketed the drug for unapproved uses and failed to warn about potential side effects, including the risk of male breast growth.
Other Lawsuits & Settlements by Big Pharma
Various pharmaceutical companies have also reached large settlements in lawsuits involving their drugs. Just peep the little list below.
In 2016, Merck & Co. reached a settlement of $830 million in a case involving its osteoporosis drug Fosamax.
In 2012, GlaxoSmithKline reached a settlement of $3 billion in a case involving its antidepressant drug Paxil.
In 2013, Pfizer reached a settlement of $2.3 billion in a case involving its painkiller Bextra.
In 2010, Eli Lilly reached a settlement of $1.4 billion in a case involving its antipsychotic drug Zyprexa.
These settlements demonstrate the potential financial impact that lawsuits can have on pharmaceutical companies. Lawsuits have helped to hold pharmaceutical companies accountable for their actions and have provided much-needed financial compensation to those affected by their products.