J&J To Provide Up to $1 Bn More To Settle Opioid Litigation
Johnson & Johnson (J&J) reports it will contribute up to an additional $1 billion to an all-in settlement amount to resolve opioid litigation to bring the total settlement amount being provided by the company to $5 billion.
Last October (October 2019), the company reached a $4-billion agreement in principle with a committee of state attorneys general over opioid litigation. The additional $1 billion brings the settlement total to $5 billion to resolve opioid lawsuits filed and future claims by states, cities, counties and tribal governments. The company says that additional terms and conditions are still being finalized.
“This additional amount results from continued negotiations and is intended to maximize participation in the settlement,” said J&J in an October 13, 2020 statement. “The settlement is not an admission of liability or wrongdoing, and the Company will continue to defend against any litigation that the final agreement does not resolve. The settlement will provide certainty for involved parties and critical assistance for families and communities in need.”
Source: Johnson & Johnson