Hedge fund investor Emanuel Friedman used $6 billion in capital to help fund legal fees in potential class-action lawsuits, including those against drugs such as Risperdal. Some outside experts expect companies like Risperdal manufacturer Janssen Pharmaceuticals and parent company Johnson & Johnson to potentially settle some Risperdal lawsuits.
Thousands of patients have filed Risperdal lawsuits against Janssen and J&J alleging that the drug caused breast tissue growth in boys and male adolescents, also known as “gynecomastia.” A recent Risperdal breast growth lawsuit went to trial and resulted in a jury verdict of $2.5 million to a 20-year old man who developed breasts after taking the drug for 8 years.
Risperdal is an antipsychotic drug prescribed to treat the effects of bipolar disorder, along with other conditions. After being approved in the early 1990s, several studies have since linked Risperdal to an increased risk of gynecomastia, due to the drug causing increased levels of the hormone prolactin — which is responsible for breast tissue growth.