West Virginia's attorney general urged a judge to hold Johnson & Johnson (NYSE:JNJ), Teva Pharmaceuticals Industries Ltd (NYSE:TEVA), and AbbVie Inc's (NYSE:ABBV) Allergen accountable for causing a "tsunami" of opioid addiction in the state.
During his opening statement in Kanawha County Circuit Court, Attorney General Patrick Morrisey said that opioid addiction has affected the state's police forces, hospitals, foster care system, and jails, with effects that will linger for more than a generation.
According to the National Center for Health Statistics data, West Virginia has been hard hit by the epidemic, with a per capita opioid mortality rate nearly three times the national average in 2020.
J&J, AmerisourceBergen Corp (NYSE:ABC), Cardinal Health Inc (NYSE:CAH), and McKesson Corporation (NYSE:MCK) have reached nationwide settlements worth $26 billion to resolve state and local government opioid claims.
The companies have denied the allegations. Morrisey said that he expects the trial before Judge Derek Swope will take up to two months.
Endo International Plc (NASDAQ:ENDP), a co-defendant in the case, reached a $26 million settlement with West Virginia on March 30.
Last month, Rhode Island reached a deal valued at $107 million with Teva and Allergen, and Florida settled with Teva, CVS Health, Allergan, and Endo for a combined $878 million.
Price Action: JNJ shares are down 0.92% at $176.55 during the market session on the last check Monday.
Photo by qimono via Pixabay
