J&J agrees to settlement with two Ohio counties ahead of opioid trial


Johnson & Johnson (NYSE:JNJ) says it will pay a $20.4M settlement with Cuyahoga and Summit counties in Ohio that accused it of contributing to the U.S. opioid addiction epidemic.

JNJ says the deal resolves all of the counties’ claims with no admission of liability and removes the company from a federal trial scheduled to begin Oct. 21.

Yesterday, Mallinckrodt (NYSE:MNK) announced a $24M settlement with the same two counties, and Endo International (NASDAQ:ENDP) and Allergan (NYSE:AGN) had settled with the counties in August to avoid going to trial.

Remaining defendants in the Oct. 21 trial include McKesson (NYSE:MCK), AmerisourceBergen (NYSE:ABC), Cardinal Health (NYSE:CAH), Teva Pharmaceutical (NYSE:TEVA), Walgreens Boots Alliance (NASDAQ:WBA) and Henry Schein (NASDAQ:HSIC).

JNJ and most of the other companies still face thousands of lawsuits related to the opioid epidemic.





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