Johnson & Johnson Statement on Texas Opioid Settlement Agreement

NEW BRUNSWICK, N.J., October 26, 2021 – Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies today announced a settlement agreement with the State of Texas and its participating subdivisions resolving their opioid-related claims against the Company. With this agreement, the Company is removed from the pending Texas state and subdivision litigation, including two bellwether trials scheduled for early 2022. The $297 million settlement with Texas is consistent with the terms of the previously announced nationwide opioid settlement agreement. The dollar amount to be received by the State is the pro-rated share it would have received under this agreement, which will be deducted from the all-in settlement amount. This settlement is not an admission of any liability or wrongdoing and the Company will continue to defend against any litigation that the final agreement does not resolve. The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in Texas and the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs. For more information, visit www.FactsAboutOurPrescriptionOpioids.com.Cautions Concerning Forward-Looking StatementsTh...
Source: Johnson and Johnson - Category: Pharmaceuticals Source Type: news