J&J adds $1B to opioid settlement

Johnson & Johnson said Oct. 13 that it is adding $1 billion to the opioid settlement agreement it made with four states last year, bringing its total contribution to $5 billion.

The settlement is part of a larger $48 billion deal the  four states announced last year and involves four other drug companies, which agreed to provide a combined $22 billion in cash and $26 billion in generic opioid addiction treatment, product distribution and data-tracking measures, according to The Hill.

Under the agreement, each state and local government will receive a share of the $22 billion in cash to provide addiction treatment, paramedic services and telehealth treatment.

J&J said in a statement that the additional contribution results from "continued negotiations and is intended to maximize participation in the settlement."

The drugmaker added that the settlement isn't an admission of liability or wrongdoing and that the company will continue to defend itself against any litigation that the final agreement doesn't resolve. 

The terms of the settlement still have to be finalized. 

Mallinckrodt, the largest maker of generic opioids, filed for bankruptcy Oct. 12. It faces more than $1 billion in costs from lawsuits over its role in the opioid crisis.

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