The settlement marks a major step forward in litigation over the highly addictive drugs, which have been blamed for more than 500,000 deaths over two decades
Johnson & Johnson has become the latest company to settle a lawsuit to get out of the first federal trial over the nation’s opioid crisis.for the year, buoyed by the strong recovery of its pharmaceutical, medical device and consumer suits, and added sales from its COVID-19 vaccine. The New Brunswick, N.J., company’s shares rose 0.6%.
Washington state Atty. Gen. Bob Ferguson rejected the offer, saying what the four companies offered is too paltry to adequately address the harm they’ve caused. For the 320 local governments in Washington, the state’s share would total more than $527 million, but that would be just $30 million a year for 18 years.
U.S. District Judge Dan Polster, who is overseeing much of the opioid litigation, has pointed to the offers by J&J and the distributors as an example for other companies ensnared in suits over the painkillers.
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