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May 28, 2019

Landmark Oklahoma Opioid Trial Against Johnson & Johnson Starts After Settlement with Teva
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Oklahoma reached an $85 million settlement deal with Teva
Pharmaceuticals Sunday, just ahead of today's landmark trial brought by
the state against drug companies responsible for the deadly opioid
crisis. Oklahoma settled with Purdue Pharma in March for $270 million.
The trial is set to go ahead with remaining defendant Johnson & Johnson.
Oklahoma's is the first civil trial against a drug company for their
role in the opioid epidemic. In court filings, Attorney General Mike
Hunter likened Johnson & Johnson to a "kingpin" which has been targeting
an unsuspecting public since the 1990s. There are nearly 1,900 federal
and state lawsuits targeting drug makers and distributors pending around
the country.

In related news, JPMorgan Chase has cut ties with Purdue Pharma, the
maker of the highly addictive opioid Oxy Contin, according to recent
reporting by Reuters.


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