NEW BRUNSWICK, N.J. – WEBWIRE – Thursday, July 22, 2021
johnson & Johnson and its U.S.-basically basically based Janssen Pharmaceutical Companies announced the finalization of a nationwide settlement settlement to salvage to the backside of opioid-linked claims and litigation by states, cities, counties, and numerous subdivisions in america. As previously announced, the Company will make contributions up to $5 billion to the settlement, reckoning on the replacement of narrate and native governments that elect to come to a decision into the settlement over the following quite lots of months.
We gape the opioid crisis is a critically complicated public health scenario, and we occupy got deep sympathy for everyone affected. This settlement will at present toughen narrate and native efforts to salvage essential development in addressing the opioid crisis in america, acknowledged Michael Ullmann, Govt Vice President, Overall Counsel, Johnson & Johnson.
The Companys actions touching on to the marketing and promotion of essential prescription opioid medications had been appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for lower than one p.c of complete opioid prescriptions within the U.S. since open. This nationwide settlement settlement is designed to salvage to the backside of the mountainous majority of litigation-basically basically based claims referring to the past sales of the Companys prescription opioid medications. Here’s now not an admission of any licensed responsibility or wrongdoing and the Company will proceed to defend in opposition to any litigation that the final settlement does now not salvage to the backside of. The Company now now not sells prescription opioid medications in america as phase of our ongoing efforts to focal level on transformational innovation and serving unmet affected person wants.
For more knowledge, command over with www.FactsAboutOurPrescriptionOpioids.com.
Cautions Concerning Ahead-Taking a look Statements
This observation contains forward-taking a look statements as outlined within the Personal Securities Litigation Reform Act of 1995 referring to the resolution settlement referring to opioid litigation. The reader is cautioned now not to depend upon these forward-taking a look statements. The details contained in this observation is for informational functions splendid and can simply now not be construed as a commitment by the Company to safe in any remark procedure or route of action. As a consequence of the inherent uncertainty of litigation, the Company can’t predict the timing, splendid consequence or financial impression of this subject, or any numerous ongoing or future litigation. The forward-taking a look statements in this observation are fixed with most up-to-date expectations of future events. If underlying assumptions indicate wrong or known or unknown dangers or uncertainties materialize, real outcomes might per chance well well well vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties encompass, however are now not restricted to: essential detrimental litigation or executive action, at the side of linked to product licensed responsibility claims; financial components, similar to interest rate and forex alternate rate fluctuations; rivals, at the side of technological advances, unique products and patents attained by rivals; challenges inherent in unique product analysis and development, at the side of uncertainty of scientific success and obtaining regulatory approvals; uncertainty of business success for trace spanking unique and existing products; challenges to patents; the impression of patent expirations; the skill of the firm to efficiently attain strategic plans; the impression of enterprise mixtures and divestitures; manufacturing difficulties or delays, internally or at some level of the provision chain; product efficacy or security considerations ensuing in product recollects or regulatory action; changes to appropriate laws and laws, at the side of tax laws and world health care reforms; trends toward health care rate containment; changes in behavior and spending patterns of purchasers of health care services and products; financial instability of worldwide economies and proper programs and sovereign wretchedness; increased scrutiny of the health care enterprise by executive agencies. A extra list and descriptions of these dangers, uncertainties and numerous components might per chance well well well be discovered in Johnson & Johnsons Annual Characterize on Draw 10-K for the fiscal yr ended January 3, 2021, at the side of within the sections captioned Cautionary Point out Concerning Ahead-Taking a look Statements and Item 1A. Threat Elements, within the firms most lately filed Quarterly Characterize on Draw 10-Q and within the firms subsequent filings with the Securities and Alternate Price. Copies of these filings are accessible on-line at www.sec.gov, www.jnj.com or on demand from Johnson & Johnson. Any forward-taking a look observation made in this observation speaks splendid as of the date of this observation. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to interchange any forward-taking a look observation which implies that of contemporary knowledge or future events or developments. The Company expressly disclaims all licensed responsibility in respect to actions taken or now not taken fixed with any or the total contents of this observation.
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