J&J to contribute up to US$5 billion to potential opioid settlement

Johnson & Johnson on Tuesday said it will contribute up to US$1 billion more to a potential settlement of lawsuits alleging it and other companies fueled the U.S. opioid epidemic, bringing the total amount it would pay to US$5 billion.

FILE PHOTO: The company logo for Johnson & Johnson is displayed to celebrate the 75th anniversary of the company's listing at the New York Stock Exchange in New York, U.S., September 17, 2019. REUTERS/Brendan McDermid/File Photo/File PhotoREUTERS: Johnson & Johnson on Tuesday said it will contribute up to US$1 billion more to a potential settlement of lawsuits alleging it and other companies fueled the U.S. opioid epidemic, bringing the total amount it would pay to US$5 billion.

The New Brunswick, New Jersey-based drugmaker said the additional money represented an increase to a proposed US$4 billion settlement framework it negotiated with a group of state attorneys general that was announced in October 2019.

Source: News Formal (newsformal.com)

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