Fine lower than feared, but J&J to appeal 'flawed' opioid ruling
Shares in Johnson & Johnson (NYSE: JNJ) opened 2% up on Tuesday, despite a court case going against the company.
It was feared by some investors that J&J would be fined more than the $572 million it was told to pay by an Oklahoma judge for contributing to the opioid crisis that has swept the USA. A fugure as high as $17.5 billion had been mentioned
J&J claims that it is confident that it has strong grounds to appeal the decision, arguing that the judgment disregards the company’s compliance with federal and state laws, the role its medicines play in the lives of the people who need them, and the ‘responsible marketing practices’ pursued in taking the drugs to market.
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