Business news

Johnson & Johnson to pay $2.2 billion


WASHINGTON — Johnson & Johnson has agreed to pay more than $2.2 billion to resolve criminal and civil allegations that the company promoted powerful psychiatric drugs for unapproved uses in children, seniors and disabled patients, the Department of Justice announced on Monday.

The agreement is the third-largest settlement with a drugmaker in U.S. history, and the latest in a string of actions against drug companies allegedly putting profits ahead of patients.

Justice Department officials alleged that J&J used illegal marketing tactics and kickbacks to persuade physicians and pharmacists to prescribe Risperdal and Invega, both antipsychotic drugs, and Natrecor, which is used to treat heart failure.

The settlement includes $1.72 billion in civil payments to federal and state governments in addition to $485 million in criminal fines and forfeited profits.

Georgia named top state to do business

ATLANTA — Georgia has been selected by a national trade publication as the top state in the country to do business.

Gov. Nathan Deal announced the recognition from Site Selection magazine Monday, saying Georgia has taken steps to create a favorable business climate with lower taxes and strong workforce training programs. Deal, who is seeking re-election next year, touted the award as making good on a campaign promise.

In other news

KELLOGG SAYS IT PLANS to trim its global workforce by 7 percent, with the breakfast foods maker citing weaker-than-expected sales for the year. For the quarter, Kellogg Co. said earned $326 million, or 90 cents per share.

ORDERS TO U.S. factories rose in September on a big jump in commercial aircraft demand. The Commerce Department said Monday that factory orders increased 1.7 percent in September from August.



Mon, 11/20/2017 - 19:11

Closings for the Thanksgiving holiday