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02.10.2019

Johnson & Johnson settles lawsuits in Ohio

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The U.S. healthcare giant agreed to a $20.4 million settlement with two Ohio counties in an effort to avoid a lengthy and costly federal trial about the opioid addiction epidemic.

The company will pay $20.4 million to settle claims by two Ohio counties

Stocks impacted: Johnson & Johnson (JNJ)

The deal with Cuyahoga and Summit counties comes a little more than a month after an Oklahoma judge ordered the New Brunswick, New Jersey-based health care conglomerate to pay $572million over its marketing of opioids in that state. Johnson & Johnson will pay a combined $10 million settlement in addition to reimbursing the counties $5 million for costs used to prepare for litigation and donating another $5.4 million in charitable contributions to non-profit organizations in connection with opioid-related programs. The company’s stocks rose nearly 0.5% on Tuesday and could extend the upside move today.

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