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Shares of Johnson & Johnson (JNJ) - Get Free Report fell in after-hours trading Tuesday after the drugmaker was hit with an $8 billion damages award.

Shares of the company fell $2.07, or 1.6%, to $129.80 in after-hours trading.

A Pennsylvania jury imposed the punitive damages in a case involving Risperdal, Reuters reported. The anti-psychotic medication has been tied to the development of breasts in some male patients.

The plaintiff in the case previously won a damages award of $680,000, according to the report. The huge difference between the initial damages award and the punitive award make it likely the amount will be reduced on appeal as a violation of due process, the report noted.

The company faces more than 13,000 legal cases related to Risperdal, according to its latest 10-Q report with the SEC.

Johnson & Johnson also faces substantial numbers of lawsuits over allegations talc in its baby powders caused cancer in women who used it.

Johnson & Johnson is a holding in Jim Cramer's Action Alerts PLUS member club.