Johnson & Johnson’s $572 million opioid fine sets harrowing precedent for drugmakers
August 27, 2019
Cleveland District Court Judge Thad Balkman yesterday ordered drug manufacturer Johnson & Johnson to pay the state of Oklahoma $572 million as compensation for the damage inflicted by the marketing and sale of addictive painkillers such as oxycodone. Although Oklahoma was seeking $17 billion in damages, with two dozen other companies that were involved manufacturing, distributing and selling opioids currently facing more than 2,000 lawsuits around the country, yesterday’s decision could have a massive long-term impact on big pharma.
Recent News
H&M’s Spring Success Surprises Market
H&M revealed a stronger-than-expected first-quarter performance, triggering a significant surge in its shares by 13%.
Amazon Broadens Same-Day Pharmacy Delivery Service to New York City and Los Angeles
Amazon is looking to make prescription delivery as seamless as possible for customers in New York City and Los Angeles by adding them to the list of cities where it provides same-day pharmacy deliveries.
Fashion Enthusiasts Seek Algorithm-Free Shopping Inspiration on Substack
Substack, an online platform that provides publishing, payment, analytics, and design infrastructure to support subscription newsletters, has become the go-to destination for young fashion enthusiasts wanting to escape algorithms.
Mike Lindell’s MyPillow Evicted From Warehouse After Falling $200K Behind on Rent
The entrepreneur must vacate the property located in Shakopee, Minnesota.