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J&J reaches opioid settlement with holdout state New Mexico

(Reuters) - Johnson & Johnson (NYSE:JNJ) on Friday said it had agreed to pay $44 million to resolve claims that it fueled the opioid epidemic in New Mexico, a state which originally opted against participating in a nationwide settlement resolving thousands of similar cases.The drugmaker said the $44 million was consistent with the terms of a proposal for J&J and drug distributors McKesson Corp (NYSE:MCK), AmerisourceBergen (NYSE:ABC) Corp and Cardinal Health Inc (NYSE:CAH) to pay up to $26 billion to resolve the cases nationally.
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(Reuters) – Johnson & Johnson (NYSE:JNJ) on Friday said it had agreed to pay $44 million to resolve claims that it fueled the opioid epidemic in New Mexico, a state which originally opted against participating in a nationwide settlement resolving thousands of similar cases.

The drugmaker said the $44 million was consistent with the terms of a proposal for J&J and drug distributors McKesson Corp (NYSE:MCK), AmerisourceBergen (NYSE:ABC) Corp and Cardinal Health Inc (NYSE:CAH) to pay up to $26 billion to resolve the cases nationally.

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