Johnson & Johnson says proposed opioid settlement to lower reported third-quarter profit by $3 billion




Johnson & Johnson says proposed opioid settlement to lower reported third-quarter profit by $3 billion


(Reuters) - Johnson & Johnson (N:JNJ) on Wednesday lowered its previously reported profit for the third quarter to $1.8 billion from $4.8 billion to account for a proposed opioid settlement payment.

The company lowered its earnings per share for the quarter to $0.66 from $1.81, and said there was no impact to its adjusted earnings numbers.

A framework deal, announced on Monday, was hammered out by some companies and attorneys general in North Carolina, Pennsylvania, Tennessee and Texas, and will need broad support among the state attorneys general and local governments that sued several drugmakers and distributors over the opioid crisis.

J&J said it could not predict when or if the deal would be finalized.





Related News

Judge rejects U.S. move to disqualify states' lawyer in T-Mobile/Sprint lawsuit
Today, 23:15
By Jonathan Stempel and Diane Bartz NEW YORK/WASHINGTON (Reuters) - A federal judge on Thursday rejected a U.S. government effort to disqualify a lawyer arguing for 15 states and the District of Columbia in their effort to block T-Mobile US
What is the 'fictional narrative' a White House ex-adviser warns against?
Today, 23:12
By Andy Sullivan WASHINGTON (Reuters) - U.S. President Donald Trump's former Russia adviser, Fiona Hill, warned lawmakers in the House of Representatives impeachment inquiry on Thursday against promoting what she called a "fictional
Jordan won't impose new taxes in new 2020 budget: finance minister
Today, 23:09
By Suleiman Al-Khalidi AMMAN (Reuters) - Jordan will not impose new taxes in its proposed 2010 budget but will seek other means including a crackdown on pervasive tax evasion to help boost revenues crucial to lowering record public debt, the finance
Nordstrom Earnings Beat, Revenue Inline In Q3
Today, 23:06
Investing.com - Nordstrom (NYSE:JWN) reported third quarter earnings that beat analysts' expectations on Thursday and revenue that was inline with forecasts. The firm reported earnings per share of $0.81 on revenue of $3.67B. Analysts polled by
Chinese antitrust regulator approves Boeing-Embraer deal
Today, 23:03
BRASILIA (Reuters) - A Chinese antitrust regulator has approved Boeing Co's (N:BA) deal to buy a controlling stake in the commercial jet division of Brazilian planemaker Embraer (SA:EMBR3), according to a statement on the regulator's



Latest News
Judge rejects U.S. move to disqualify states' lawyer in T-Mobile/Sprint lawsuit
21.11.2019 23:15
By Jonathan Stempel and Diane Bartz NEW YORK/WASHINGTON (Reuters) - A federal judge on Thursday rejected a U.S. government effort to disqualify a lawyer arguing for 15 states and the District of Columbia in their effort to block T-Mobile US Inc's (O:TMUS) planned $26.5 billion takeover of Sprint Corp (N:S). U.S. Magistrate Judge Robert
Read more
What is the 'fictional narrative' a White House ex-adviser warns against?
21.11.2019 23:12
By Andy Sullivan WASHINGTON (Reuters) - U.S. President Donald Trump's former Russia adviser, Fiona Hill, warned lawmakers in the House of Representatives impeachment inquiry on Thursday against promoting what she called a "fictional narrative
Read more
Jordan won't impose new taxes in new 2020 budget: finance minister
21.11.2019 23:09
By Suleiman Al-Khalidi AMMAN (Reuters) - Jordan will not impose new taxes in its proposed 2010 budget but will seek other means including a crackdown on pervasive tax evasion to help boost revenues crucial to lowering record public debt, the finance minister said on Thursday. Mohammad Al Ississ told parliament's finance committee that
Read more
Nordstrom Earnings Beat, Revenue Inline In Q3
21.11.2019 23:06
Investing.com - Nordstrom (NYSE:JWN) reported third quarter earnings that beat analysts' expectations on Thursday and revenue that was inline with forecasts. The firm reported earnings per share of $0.81 on revenue of $3.67B. Analysts polled by Investing.com expected EPS of $0.64 on revenue of $3.67B. That compared to EPS of $0.67 on revenue of
Read more
Chinese antitrust regulator approves Boeing-Embraer deal
21.11.2019 23:03
BRASILIA (Reuters) - A Chinese antitrust regulator has approved Boeing Co's (N:BA) deal to buy a controlling stake in the commercial jet division of Brazilian planemaker Embraer (SA:EMBR3), according to a statement on the regulator's website. The Boeing-Embraer deal appears on a list dated Nov. 19 of transactions "approved
Read more