Abbott Told to Pay Record $1.67 Billion Award to J&J
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Abbott Laboratories should pay $1.67 billion to Johnson & Johnson’s Centocor unit for using its invention to produce the Humira arthritis drug, a federal jury said in the largest patent verdict in U.S. history.
The jury sided with J&J, the world’s biggest health-care company, after five hours of deliberations today, finding Abbott’s actions were willful and J&J is owed $1.17 billion in lost profits and $504 million in royalties. Abbott pledged to appeal the verdict.