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New York files civil charges against J&J over opioids

Sep. 17, 2020 12:34 PM ETJohnson & Johnson (JNJ) StockJNJBy: Kim Khan, SA News Editor57 Comments
  • New York state’s Department of Financial Services is filing civil charges against Johnson & Johnson (JNJ-0.8%), for “actively creating a dangerous market for opioids for chronic pain treatment”.
  • "Misrepresentation of opioids to consumers for profit is inexcusable and we will use every tool necessary to help ensure those responsible are held fully accountable,” Governor Andrew Cuomo says in a statement.
  • New York has previously charged Teva Pharmaceutical, Allergan and Mallinckrodt.
  • The charges accuse of the company of, among other things, targeting elderly patients and characterizing “opioid addiction as a dangerous myth” and advancing “the idea of ‘pseudoaddiction’”.
  • J&J shares are up slightly year to date.

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