Johnson & Johnson announces opioid settlement with West Virginia

Johnson & Johnson (NYSE:JNJ) has agreed to pay $99 million to put opioid-related claims in the State of West Virginia to bed. 

The state has removed J&J from an ongoing trial in Kanawha County. 

West Virginia will use the funds to support community efforts targeting the opioid crisis.  

The settlement did not include an admission of liability or wrongdoing. 

The settlement related to former sales of the drugs Duragesic (fentanyl transdermal system), Nucynta (tapentadol) and Nucynta ER, which 

West Virginia had accused Janssen, Teva and Allergan of violating state laws related to shipping opioids. 

In January, J&J announced similar deals with Colorado and Nevada.   

In 2015, Johnson & Johnson divested U.S. license rights for Nucynta-based products. 

The company permanently discontinued sales of Duragesic transdermal systems in 2020. 

JNJ shares were up 0.16% to $180.22 in morning trading.

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Johnson & Johnson reaches opioid settlement with Colorado and Nevada

Johnson & Johnson (NYSE:JNJ) has reached a settlement agreement with Colorado and Nevada to put opioid-related allegations there to bed. 

Colorado will receive $385 million from Johnson & Johnson and the drug distributors McKesson (NYSE:MCK), AmerisourceBergen (NYSE: ABC) and Cardinal Health (NYSE:CAH).

Nevada will receive nearly $285.2 million as part of the overall settlement, which is earmarked for battling the ongoing opioid epidemic, according to Nevada Attorney General Aaron D. Ford. Of that sum, Johnson & Johnson will pay $63 million, according to a press release.

“The funds that our state will receive going forward will help us save lives and mitigate the harms done to our residents because of the ongoing opioid epidemic,” Ford said in a statement. “Our team has worked diligently to get Nevada the resources we must have to help Nevadans in need in one of the epidemic’s hardest-hit states, and to obtain justice from many opioid manufac…

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