Johnson & Johnson Settles with New York for $263m

Just a few days before opening statements were scheduled to begin in New York’s widely anticipated jury trial, Johnson & Johnson has offered to settle with New York “and its participating subdivisions, including Nassau County and Suffolk County” for “up to” $263 million.

Interestingly, the agreement “requires J&J to pay $30 million more in payments in the first year if the New York state executive chamber signs into law new legislation [SB 7194 / AB 6395B] that creates an opioid settlement fund, and other criteria are met. If that legislation — which passed the state Legislature unanimously — becomes law and all litigating subdivisions within New York sign on to today’s settlement, New York would be eligible to receive more than half of total payments, or more than $130 million, as soon as February 2022.”

New York’s AG’s Office is especially happy about the fact that the deal “acknowledges Johnson & Johnson’s exit from the opioid business nationally.“ Johnson & Johnson in its own statement points out that “DURAGESIC®, NUCYNTA®, and NUCYNTA® ER have accounted for less than one percent of total opioid prescriptions in the U.S. since launch” and are “no longer sold in the U.S.” anyway.