J&J Oklahoma Judgement May Set Benchmark For Massive Opioid Resolution
Judge orders J&J to pay $572m for one-year abatement plan; the state had proposed $12bn over 20-year period. J&J's gamble on a trial has so far not succeeded, since it is now facing more than twice the payout that Purdue agreed to in a settlement.
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Reps. McKinley and Kaptur ask commissioner Hahn about potential for shortages if Teva’s proposal to provide free opioid addiction treatment goes into effect. States are pushing for more money and stricter injunctive terms in settlement talks with manufacturers and distributers.
Delays expected to have cascading effect beyond the current crisis; Federal Circuit to hear arguments remotely.
A strong fourth quarter and full-year 2019 performance by J&J was driven by significant sales growth for Tremfya and Stelara. CFO Wolk said a $4bn opioids settlement remains on track.