Oklahoma court overturns $465 million opioid award against Johnson & Johnson -Breaking
[ad_1]
© Reuters. FILE PHOTO: The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 29, 2019. REUTERS/Brendan McDermid/File PhotoNate Raymond
(Reuters) – The Oklahoma Supreme Court on Tuesday overturned a $465 million judgment against Johnson & Johnson (NYSE:) in a lawsuit by the state alleging the drugmaker fueled the opioid epidemic through the deceptive marketing of painkillers.
A 5-1 decision by the court was that the state’s law of public nuisance does not apply to prescription opioid manufacturing, marketing, and sale. The trial judge had gone too far in holding it did.
J&J had no immediate comment. The spokesperson for Oklahoma Attorney General John O’Connor didn’t immediately reply to our request for comment.
It was the latest blow for local and state governments who are pursuing lawsuits to hold drug companies accountable for the drug abuse crisis that the U.S. government said led to almost 500,000 overdose deaths in the last two decades.
The case against J&J by Oklahoma’s attorney general was the first to go to trial nationally of more than 3,000 similar cases against pharmaceutical manufacturers, drug distributors and pharmacies.
A similar trial in California pitting several large counties against J&J and three other drugmakers resulted in a judge on Nov. 1 ruling in the companies’ favor and concluding the epidemic could not be considered a public nuisance.
Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from relying on data including charts, buy/sell signals, and quotes. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.
[ad_2]
