Johnson & Johnson increases opioid payment to $5bn and Mallinckrodt file for bankruptcy

The multinational corporation Johnson & Johnson has announced that it will pay a further $1bn towards settling a range of lawsuits in which it is alleged that it, and other companies, perpetuated the US opioid epidemic. In 2019, Johnson & Johnson agreed a $4bn settlement framework which has now been increased following negotiations. There are now more than 3,000 lawsuits from US states, counties and municipalities against opioid manufacturers and distributers. Johnson & Johnson denies any wrongdoing. Also this week, drug manufacturer Mallkinckrodt Plc filed for bankruptcy in the face of ongoing opioid related lawsuits.

Source: https://www.reuters.com/article/us-usa-opioids-johnson-johnson/jj-to-contribute-up-to-5-billion-to-potential-u-s-opioid-settlement-idUSKBN26Y2FT