New Jersey is a world leader in terms of being home to pharmaceutical companies. That's not simply a matter of fact. It's a matter of design. The state has long been a bastion of chemical firms and the government is quick to tout the fact that 15 of the 25 largest firms have major facilities in New Jersey.
A major pharmaceutical company based in New Jersey is apparently setting aside funds to settle commercial litigation over schizophrenia drug Risperdal and other medications. Johnson & Johnson has already made several recalls of the drug and is planning to designate an additional $600 million to cover potential settlements of civil lawsuits related to its marketing of Risperdal and other drugs.
A consumer coalition dedicated to health care reform has filed lawsuits against eight major pharmaceutical companies, claiming their popular coupon programs for brand-name prescription drugs are illegal. The coalition is seeking class-action status in its commercial litigation on behalf of insurance plans that could make up more than 60 percent of the U.S. healthcare market.
New Jersey pharmaceutical giant Merck announced last week that it has settled lawsuits with officials from three states who said they were misled about the safety of the painkiller Vioxx, according to Businessweek. The drug was reported to have caused almost 28,000 heart attacks and sudden cardiac deaths before it was recalled.