On Sept. 12, 2023, the FDA issued a report on phenylephrine, saying that there were no safety issues found with its use as a decongestant but there were also no benefits, the suit said.
January 29, 2024 at 05:57 PM
3 minute read
The original version of this story was published on New Jersey Law Journal
Securities fraud suits are multiplying over Johnson & Johnson’s alleged failure to disclose questions about the effectiveness of its decongestant products when it conducted an initial public offering for spinoff division Kenvue.
Kao v. Johnson & Johnson, filed Jan. 26 in Trenton, New Jersey, federal court, is the latest shareholder suit stemming from the Food and Drug Administration’s announcement that an ingredient called phenylephrine, widely used in decongestants, is ineffective.
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