Oklahoma judge reduces J&J order in opioid lawsuit by $107M
OKLAHOMA CITY — An Oklahoma judge who last summer ordered consumer products giant Johnson & Johnson to pay $572 million to help address the state’s opioid crisis is reducing that amount by $107 million in his final order in the case.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
District Judge Thad Balkman on Friday issued the order directing the company to pay the state $465 million, acknowledging that he miscalculated in his original award how much it would cost to develop a program for treating babies born addicted to opioids. The cost should have been $107,000, not $107 million.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 147.23 | -1.32 | -0.89% |
CLICK HERE TO READ MORE ON FOX BUSINESS
The judge declined a request by the defendants to further reduce the amount to take into account pre-trial settlements totaling $355 million the state reached with Oxycontin-maker Purdue Pharma and Israeli-owned Teva Pharmaceuticals.
Attorneys for Johnson & Johnson say the company plans to appeal.