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J&J reaches opioid settlement with holdout state New Mexico -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: The Johnson & Johnson logo is displayed on a screen on the floor of the New York Stock Exchange. REUTERS/Brendan McDermid

(Reuters) – Johnson & Johnson (NYSE:) on Friday said it had agreed to pay $44 million to resolve claims that it fueled the opioid epidemic in New Mexico, a state which originally opted against participating in a nationwide settlement resolving thousands of similar cases.

The drugmaker said the $44 million was consistent with the terms of a proposal for J&J and drug distributors McKesson Corp (NYSE:), AmerisourceBergen (NYSE:) Corp and Cardinal Health Inc (NYSE 🙂 is willing to pay as much as $26 billion in order to settle the national cases.

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