In two back-to-back blockbuster headlines, Johnson & Johnson was found liable for damages related to the US opioid crisis and Purdue Pharmaceuticals proposed a multi-billion dollar settlement deal which would result in the outright bankruptcy of the company.
While some have made light of the Johnson & Johnson ruling, which likely prompted Purdue to propose their settlement, since it found them liable for only a fraction of what was sought, the case was only one of over 2,000 pending suits set to hit courtrooms this fall. With new precedent being set and some analysts now putting the potential sum of judgements and settlements north of $100 billion, big pharma still stands to take major hits going forward.
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