Johnson & Johnson (NYSE:JNJ) has lost a landmark case regarding its role in the opioid crisis, causing further losses for JNJ stock.
An Oklahoma judge has ordered the pharmaceutical heavyweight to pay $572 million USD in damages for its role in contributing to the opioid crisis in the US, marking the first time in history that an opioid manufacturer has been held accountable in court. However, the sum is well below what many analysts and investors feared and represents less than one percent of the company’s annual sales, which were $81.6 billion USD in 2018.
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