Categories: Johnsonstatement

Johnson & Johnson Statement on Nationwide Opioid Settlement Agreement

NEW BRUNSWICK, N.J. – WEBWIRE

johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies announced the finalization of a nationwide settlement agreement to resolve opioid-related claims and litigation by states, cities, counties, and other subdivisions in the United States. As previously announced, the Company will contribute up to $5 billion to the settlement, depending on the number of state and local governments that elect to opt into the agreement over the next several months.

“We recognize the opioid crisis is a tremendously complex public health issue, and we have deep sympathy for everyone affected. This settlement will directly support state and local efforts to make meaningful progress in addressing the opioid crisis in the United States,” said Michael Ullmann, Executive Vice President, General Counsel, Johnson & Johnson.

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 the U.S. since launch. This national settlement agreement is designed to resolve the vast majority of litigation-based claims regarding the past sales of the Company’s prescription opioid medications. This 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 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 Statements
This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the resolution agreement regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty o

Read More

News Bot

Share
Published by
News Bot

Recent Posts

5 ways Microsoft Edge is better than Chrome

No, seriously, Microsoft's web browser just keeps getting better. Today's Best Tech Deals Picked by…

41 mins ago

Walmart Onn Streaming Stick and Device reviews: Surprisingly great budget streamers

Walmart's cheap streamers should make Roku and Amazon sweat. Jared Newman / IDG Today's Best…

41 mins ago

X-Sense S21 Outdoor Security Camera review: Outstanding quality for a low price

This unassuming video camera is packed with features, including an LED spotlight for color night…

41 mins ago

The best pre-built PCs with AMD’s Ryzen 5300G, 5600G, or 5700G APUs

Beat the graphics card crunch with one of these pre-built PCs powered by AMD’s 5000-series…

41 mins ago

The best robot vacuum and mop combo is Narwal’s T10, and it’s $100 off at Amazon

If you purchase an independently reviewed product or service through a link on our website,…

43 mins ago

Android 12: Everything there is to know about Google’s next mobile OS

Android 12 is well and truly on the way. The world’s most-used operating system was…

43 mins ago