Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech

AHF: J&J’s $4 Billion Hip Lawsuit Settlement Shows Pharma’s Immense Wealth—and Greed

November 13, 2013 By Business Wire

As news of Johnson & Johnson’s (J&J) plan to announce a $4 billion settlement to resolve over 7,500 federal and state lawsuits involving recalled J&J hip implant products spilled out earlier today via a Bloomberg news article, officials from AIDS Healthcare Foundation (AHF), the largest global AIDS organization, pointed out that the enormity of the settlement for J&J’s wrongdoing underscores the immense wealth and greed of the pharmaceutical industry. The news follows closely on the heels of last week’s announcement of a $2.2 billion fine levied against J&J by the Department of Justice over J&J’s illegal marketing of its antipsychotic drugs.

“In a two week period, Johnson & Johnson, one of America’s most trusted brands, will have racked up over six billion dollars in fines and legal settlement costs for its wrongdoing—six billion dollars,” said Michael Weinstein, President of AHF. “The fact that Johnson and Johnson can so readily consent to billion-dollar fines and/or legal settlements shows both the incredible wealth—and greed—of the pharmaceutical industry. J&J’s latest transgressions and news of this pending settlement also underscore a growing pattern of greed and abuse that governs the pharmaceutical industry as a whole today.”

In a separate matter involving wrongdoing by J&J, AHF recently sued Johnson & Johnson and its subsidiaries in the Superior Court of California for cheating on its AIDS drug pricing and overcharging AHF by as much as $2 million on HIV/AIDS drugs purchased between 2005-2012. AHF’s lawsuit alleges that the companies have “…failed to fully satisfy their obligations with respect to the drugs they sold to AHF over a period of many years,” under the 340B Program, a Federal drug discount program designed to stretch scarce Federal resources as far as possible for safety net healthcare providers such as AHF. The J&J Companies include Johnson & Johnson, Janssen Therapeutics and Janssen Biotech. Together, they control a significant portion of the AIDS drug market with drugs that include Prezista, Intelence, Endurant and Procrit.

AHF’s lawsuit against J&J was filed Wednesday, October 30, 2013, in the Superior Court of California, County of Los Angeles, Central District [ case #BC526253 ]. The action against J&J includes claims of “Violation of California Unfair Competition Law; Breach of Contract—Third Party Beneficiary; Negligence; Unjust Enrichment and Breach of Covenant of Good Faith and Fair Dealing.”

Related Articles Read More >

A portrait of ResMed President and COO Rob Douglas
ResMed finds a solution to semiconductor shortage, as well as some humor in it
Johnson & Johnson Office of Digital Innovation Leader Peter Schulam
Imagining the future of cloud-connected medical devices with Johnson & Johnson leaders
Withings Body Scan
Withings plans launch for Body Scan smart scale platform
BinaxNow COVID-19 Ag Card
Time recognizes Abbott offerings among this year’s 100 best inventions

DeviceTalks Weekly.

June 24, 2022
How innovative design, commercial strategy is building Cala Trio’s bioelectronic medicine market
See More >

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

Enewsletter Subscriptions

Enewsletter Subscriptions

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • MedTech 100 Index
  • Medical Tubing + Extrusion
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertise With Us
  • Subscribe to Print Magazine
  • Subscribe to E-newsletter
  • Attend our Monthly Webinars
  • Listen to our Weekly Podcasts
  • Join our DeviceTalks Tuesdays Discussion

Copyright © 2022 WTWH Media, LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media LLC. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech