Johnson & Johnson halts nationwide opioid sales in $230 million settlement
Johnson & Johnson has agreed to stop nationwide opioid sales in a $230 million settlement with New York state, announced New York’s Attorney General Letitia James on Saturday.
The decision comes as a result of lawsuits filed against pharmaceutical companies by countries, cities, and states over years following the opioid crisis that has killed almost 500,000 people.
It was argued that pharmaceutical companies overprescribed drugs to patients to get them addicted. Pharmaceutical companies have maintained that they prescribed just enough to help people deal with medical issues.
As part of the settlement, the company will resolve opioid-related claims and assign payments over nine years. The company may also have to pay $30 million more in the first year for an opioid settlement fund.
Addressing the case Letitia James said, “Johnson & Johnson helped fuel this fire, but today they’re committing to leaving the opioid business — not only in New York but across the entire country.”
Johnson & Johnson has agreed to the settlement on Saturday stating that it is not an admission of liability or wrongdoing by the company” and is “consistent with the terms of the previously announced $5 billion all-in settlement agreement in principle for the resolution of opioid lawsuits and claims by states, cities, counties and tribal governments.”
There are more lawsuits that await Johnson & Johnson in other parts of the country. The company has held that it would also continue to defend against any lawsuits the final agreement does not resolve.
