J&J reaches initial deal on Risperdal charge

Johnson & Johnson said in a securities filing that it reached an agreement in principle with the Justice Department for a misdemeanor charge relating to the marketing of its anti-psychotic drug Risperdal.

The New Brunswick, N.J.-based company said in a filing with the Securities and Exchange Commission that the discussions “have been ongoing in an effort to resolve criminal penalties under the Food, Drug and Cosmetic Act related to the promotion of Risperdal.”

Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson, markets Risperdal. Investigations of the company's marketing of Risperdal began in 2004.

“An agreement in principal on key issues relevant to a disposition of criminal charges pursuant to a single misdemeanor violation of the Food Drug and Cosmetic Act has been reached, but certain issues remain open before a settlement can be finalized,” said Johnson & Johnson in its filing.

Johnson & Johnson also said it could not estimate a range of loss.