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Johnson & Johnson liable for $572 million in Oklahoma opioid epidemic trial; shares rise

Updated : August 27, 2019 07:55 AM IST

An Oklahoma judge on Monday ordered Johnson & Johnson to pay $572.1 million to the state for its part in fuelling an opioid epidemic by deceptively marketing addictive painkillers, a sum that was substantially less than investors had expected, driving up J&J's shares.
J&J said it will ask that the award be put on hold during an appeal process that could stretch into 2021. The company also said Oklahoma failed to show that its products and activities had created a public nuisance.
The trial came after Oklahoma had resolved claims against OxyContin maker Purdue Pharma LP in March for $270 million and Teva in May for $85 million, leaving J&J as the lone defendant.
Johnson & Johnson liable for $572 million in Oklahoma opioid epidemic trial; shares rise
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