Saying he miscalculated the cost of treating babies addicted to opioids, Oklahoma judge Thad Balkman has reduced Johnson & Johnson’s (JNJ +2.9%) financial commitment over its role in the opioid crisis in the state. The company will now be on the hook for $465M, $107M lower than the initial settlement of $572M, citing an initial estimate of $107M to develop a program which should have been $107K.
He declined a request by the defendants for a more significant reduction considering the $355M settlement with Purdue Pharma and Teva Pharmaceutical Industries (TEVA +8.4%).
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