Prognosis
J&J Settles N.Y. Opioid Suits for More Than $260 Million
- Deal reached on eve of trial for cases by state, two counties
- Settlement part of J&J proposal to resolve all its liability
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Johnson & Johnson said it agreed to pay $263 million to resolve opioid lawsuits filed in New York, settling the cases on the eve of the first U.S. jury trial over claims the company mishandled the highly addictive painkillers.
The settlement resolves complaints brought by New York State Attorney General Letitia James and two Long Island counties that are set to go to trial next week. In a statement Saturday, the company said the deal is consistent with a $5 billion settlement proposal it made last year to resolve all its opioid liability. The global proposal has yet to be finalized.