- Alabama reached $276 million in settlements with Johnson & Johnson (NYSE:JNJ), McKesson Corporation (NYSE:MCK), and Endo International Plc (NASDAQ:ENDP), resolving claims on the opioid addiction crisis, the state attorney general said.
- McKesson will pay $141 million. JNJ and Endo will pay $70.3 million and $25 million, respectively, Alabama Attorney General Steve Marshall said in a statement.
- The three companies will also pay $40 million in attorneys' fees.
- The companies have denied wrongdoing.
- J&J, which manufactured the pain medications Duragesic and Nucynta, said it no longer sells prescription opioids in the U.S. Its past marketing efforts were "appropriate and responsible."
- "These three settlement agreements affirm my decision to decline participation in the national opioid settlements, which did not adequately acknowledge the unique harm that Alabamians have endured," Marshall said.
- West Virginia on Monday announced a $99 million settlement with J&J and is in the middle of a trial against Teva Pharmaceutical Industries Ltd (NYSE:TEVA) and AbbVie Inc's (NYSE:ABBV) Allergan unit.
- In March, Florida reached more than $878 million in opioid settlements with CVS Health Corp (NYSE: CVS) and three drugmakers.
