Our Statements

Johnson & Johnson Statement on Washington State Opioid Settlement Agreement

NEW BRUNSWICK, N.J., January 22, 2024 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies (collectively, the “Company”) today announced a settlement agreement with the State of Washington and its participating subdivisions resolving their opioid-related claims against the Company. With this agreement, the Company has now resolved all pending opioid litigation by the State and its subdivisions, as well as all litigation brought by the U.S. state Attorneys General.

The $149.5 million settlement will be drawn from the nationwide settlement announced in 2021 and will directly support local community efforts to seek meaningful progress in addressing the opioid crisis in Washington state. This settlement is not an admission of liability or wrongdoing and marks continued progress in resolving opioid-related claims and litigation by states, cities, counties, and other subdivisions in the United States. The Company will continue to defend against any litigation that the final agreement does not resolve.

The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in Washington state and the U.S. since launch. The Company has not sold prescription opioid medications in the United States for years as part of its ongoing efforts to focus on transformational innovation and serving unmet patient needs. For more information, visit www.FactsAboutOurPrescriptionOpioids.com.

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding settlement agreements to resolve opioid-related claims and litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 1, 2023, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the Company’s most recently filed Quarterly Report on Form 10-Q and in the Company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on New Hampshire Opioid Settlement Agreement

NEW BRUNSWICK, NJ, September 1, 2022 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies (collectively, the “Company”) today announced a settlement agreement with the State of New Hampshire and its participating subdivisions resolving their opioid-related claims against the Company. This settlement will resolve the upcoming trial scheduled to begin on September 12, 2022 in Merrimack County, New Hampshire.

The settlement will directly support local community efforts to seek meaningful progress in addressing the opioid crisis in New Hampshire. Under the terms of the agreement, the Company will pay $39 million, as well as an additional approximately $1.5 million, for which the Company will be reimbursed from the nationwide settlement fund because New Hampshire did not participate in that settlement. This settlement is not an admission of liability or wrongdoing and marks continued progress in resolving opioid-related claims and litigation by states, cities, counties, and other subdivisions in the United States. The Company will continue to defend against any litigation that the final agreement does not resolve.

The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in New Hampshire and the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of its ongoing efforts to focus on transformational innovation and serving unmet patient needs.

For more information, visit www.FactsAboutOurPrescriptionOpioids.com

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding settlement agreements to resolve opioid-related claims and litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the Company’s most recently filed Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2022 and in the Company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on Alabama Opioid Settlement Agreement

NEW BRUNSWICK, NJ, April 19, 2022 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies (collectively, the “Company”) today announced a settlement agreement with the State of Alabama and its participating subdivisions resolving current and future opioid-related claims against the Company. With this agreement, the Company is removed from filed cases in the state.

The $77 million settlement with Alabama is consistent with the framework of the recently finalized nationwide opioid settlement agreement. This settlement is not an admission of any liability or wrongdoing and the Company will continue to defend against any litigation that the final agreement does not resolve.

The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in Alabama and the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of its ongoing efforts to focus on transformational innovation and serving unmet patient needs.

For more information, visit www.FactsAboutOurPrescriptionOpioids.com

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding settlement agreements to resolve opioid-related claims and litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the Company’s most recently filed Quarterly Report on Form 10-Q and in the Company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on West Virginia Opioid Settlement Agreement

NEW BRUNSWICK, NJ, April 18, 2022 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies (collectively, the “Company”) today announced a settlement agreement with the State of West Virginia and its participating subdivisions resolving their opioid-related claims against the Company. With this agreement, the Company is removed from the trial ongoing in Kanawha County, West Virginia.

The $99 million settlement will directly support local community efforts to seek meaningful progress in addressing the opioid crisis in West Virginia. This settlement is not an admission of liability or wrongdoing and marks continued progress in resolving opioid-related claims and litigation by states, cities, counties, and other subdivisions in the United States. The Company will continue to defend against any litigation that the final agreement does not resolve.

The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in West Virginia and the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of its ongoing efforts to focus on transformational innovation and serving unmet patient needs.

For more information, visit www.FactsAboutOurPrescriptionOpioids.com

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding settlement agreements to resolve opioid-related claims and litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the Company’s most recently filed Quarterly Report on Form 10-Q and in the Company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on West Virginia Trial.

NEW BRUNSWICK, NJ, April 4, 2022 -We deeply sympathize with those affected by the tragic impact of opioid abuse and addiction, and believe the opioid crisis is a public health issue that requires a public health response. We recently finalized our nationwide settlement with a majority of U.S. states and territories, which will directly support state and local efforts to make meaningful progress in addressing the opioid crisis. West Virginia has decided not to receive its share of these settlement funds and instead proceed to trial based on legal theories that have been rejected by courts in other states.

We will challenge the State’s claims, and the evidence at trial will show that Janssen worked with regulators to provide appropriate information about the risks and benefits of these important prescription pain medications. Additionally, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in West Virginia and the U.S. since launch. The Company no longer sells prescription opioid medications in the U.S.

Johnson & Johnson Statement on Nationwide Opioid Settlement Agreement

NEW BRUNSWICK, NJ, February 25, 2022 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies (collectively, the “Company”) today confirmed there is sufficient level of participation to move forward with the nationwide settlement agreement to resolve opioid-related claims and litigation by states, cities, counties, and other subdivisions in the United States.

As previously announced on July 21, 2021, the Company will contribute up to $5 billion to the nationwide settlement, which is designed to directly support state and local efforts to make meaningful progress in addressing the opioid crisis in the United States. This settlement agreement is not an admission of any liability or wrongdoing, and the Company will continue to defend against any litigation that this final settlement agreement does not resolve. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs.

The Company announced separate settlement agreements that are consistent with the terms of the nationwide settlement agreement with the States of New York in June 2021, Texas in October 2021, and Nevada and New Mexico in January 2022. The Company also announced a settlement agreement with the federally recognized Tribes in February 2022. The dollar amounts to be received in these settlement agreements are the pro-rated shares that would have been received under the nationwide settlement agreement and will be deducted from the $5 billion all-in settlement amount.

For more information, visit www.FactsAboutOurPrescriptionOpioids.com

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding settlement agreements to resolve opioid-related claims and litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the Company’s most recently filed Quarterly Report on Form 10-Q and in the Company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on Federally Recognized Tribes Opioid Settlement Agreement

NEW BRUNSWICK, NJ, February 1, 2022 – Johnson & Johnson (the Company) and its U.S.-based Janssen Pharmaceutical Companies today announced a settlement agreement with the federally recognized Tribes resolving their opioid-related claims against the Company.

The $150 million settlement with the Tribes is consistent with the framework of the previously announced nationwide opioid settlement agreement. The dollar amount to be received by the Tribes has been deducted from the all-in settlement amount. This settlement is not an admission of any liability or wrongdoing and the Company will continue to defend against any litigation that the final agreement does not resolve.

The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs.

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the resolution agreement regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the company’s most recently filed Quarterly Report on Form 10-Q and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on New Mexico Opioid Settlement Agreement

NEW BRUNSWICK, NJ, January 14, 2022 – Johnson & Johnson (the Company) and its U.S.-based Janssen Pharmaceutical Companies today announced a settlement agreement with the State of New Mexico and its participating subdivisions resolving their opioid-related claims against the Company. With this agreement, the Company is removed from pending litigation by the State and its subdivisions.

The $44 million settlement with New Mexico is consistent with the terms of the previously announced nationwide opioid settlement agreement. The dollar amount to be received by the State is the pro-rated share it would have received under this agreement, which will be deducted from the all-in settlement amount. This settlement is not an admission of any liability or wrongdoing and the Company will continue to defend against any litigation that the final agreement does not resolve.

The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in New Mexico and the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs.

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the resolution agreement regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the company’s most recently filed Quarterly Report on Form 10-Q and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on Nevada Opioid Settlement Agreement

NEW BRUNSWICK, NJ, January 4, 2022 - Johnson & Johnson (the Company) and its U.S.-based Janssen Pharmaceutical Companies today announced a settlement agreement with the State of Nevada and its participating subdivisions resolving their opioid-related claims against the Company. With this agreement, the Company is removed from pending litigation by the State and its subdivisions.

The $63 million settlement with Nevada is consistent with the terms of the previously announced nationwide opioid settlement agreement. The dollar amount to be received by the State is the pro-rated share it would have received under this agreement, which will be deducted from the all-in settlement amount. This settlement is not an admission of any liability or wrongdoing and the Company will continue to defend against any litigation that the final agreement does not resolve.

The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in Nevada and the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs.

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the resolution agreement regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the company’s most recently filed Quarterly Report on Form 10-Q and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Oklahoma State Supreme Court Rules in Favor of Johnson & Johnson in Opioid Litigation

NEW BRUNSWICK, NJ, November 9, 2021 - The Oklahoma State Supreme Court today ruled in favor of Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies in overturning the trial court’s $465 million judgment in 2019.

The Court appropriately and categorically rejected the misguided and unprecedented expansion of the public nuisance law as a means to regulate the manufacture, marketing, and sale of products, including the Company’s prescription opioid medications.

We recognize the opioid crisis is a tremendously complex public health issue, and we have deep sympathy for everyone affected. The Company’s actions relating to the marketing and promotion of these important prescription opioid medications were appropriate and responsible. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs.

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the company’s most recently filed Quarterly Report on Form 10-Q and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on Texas Opioid Settlement Agreement

NEW BRUNSWICK, NJ, October 25, 2021 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies today announced a settlement agreement with the State of Texas and its participating subdivisions resolving their opioid-related claims against the Company. With this agreement, the Company is removed from the pending Texas state and subdivision litigation, including two bellwether trials scheduled for early 2022.

The $297 million settlement with Texas is consistent with the terms of the previously announced nationwide opioid settlement agreement.The dollar amount to be received by the State is the pro-rated share it would have received under this agreement, which will be deducted from the all-in settlement amount. This settlement is not an admission of any liability or wrongdoing and the Company will continue to defend against any litigation that the final agreement does not resolve.

TThe Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in Texas and the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs.

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the resolution agreement regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the company’s most recently filed Quarterly Report on Form 10-Q and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Statement on Nationwide Opioid Settlement Agreement

NEW BRUNSWICK, NJ, July 21, 2021 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies today announced the finalization of a nationwide settlement agreement to resolve opioid-related claims and litigation by states, cities, counties, and other subdivisions in the United States. As previously announced, the Company will contribute up to $5 billion to the settlement, depending on the number of state and local governments that elect to opt into the agreement over the next several months.

"We recognize the opioid crisis is a tremendously complex public health issue, and we have deep sympathy for everyone affected. This settlement will directly support state and local efforts to make meaningful progress in addressing the opioid crisis in the United States,” said Michael Ullmann, Executive Vice President, General Counsel, Johnson & Johnson.

The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC®, NUCYNTA® and NUCYNTA® ER accounted for less than one percent of total opioid prescriptions in the U.S. since launch. This national settlement agreement is designed to resolve the vast majority of litigation-based claims regarding the past sales of the Company’s prescription opioid medications. This is not an admission of any liability or wrongdoing and the Company will continue to defend against any litigation that the final agreement does not resolve. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs.

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the resolution agreement regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the company’s most recently filed Quarterly Report on Form 10-Q and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Johnson & Johnson Reaches Opioid Settlement Agreement with New York State Consistent with Terms of Previously Announced Broader Settlement Agreement in Principle

NEW BRUNSWICK, NJ, June 25, 2021 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies today announced a settlement agreement with the State of New York and its participating subdivisions, including Nassau County and Suffolk County, resolving their opioid-related claims against the Company. With this agreement, the Company is removed from the trial scheduled to begin in Suffolk County on June 28, 2021.

The settlement will provide New York and its participating subdivisions with up to $263 million in funding to address opioid related issues, as well as reimbursement for attorney fees and costs. Note, the Company made the business decision in 2020 to discontinue all of its prescription pain medications in the United States. The settlement is not an admission of liability or wrongdoing by the Company, and it is consistent with the terms of the previously announced $5 billion all-in settlement agreement in principle for the resolution of opioid lawsuits and claims by states, cities, counties and tribal governments. The dollar amount to be received by the State is the pro-rated share it would have received under the broader agreement in principle, which will be deducted from the all-in settlement amount.

There continues to be progress toward finalizing the all-in settlement agreement, and the Company remains committed to providing certainty for involved parties and critical assistance for communities in need. The Company will continue to defend against any litigation that the final agreement does not resolve.

The Company’s actions relating to the marketing and promotion of important prescription pain medications were appropriate and responsible. Janssen developed two prescription opioid medicines – a patch and a crush-resistant tablet – designed to help patients suffering from pain. DURAGESIC®, NUCYNTA®, and NUCYNTA® ER have accounted for less than one percent of total opioid prescriptions in the U.S. since launch. The Company does not distribute or market any opioid products in the U.S. and continues to work with partners to help families and communities address their opioid-related issues.

About DURAGESIC®, NUCYNTA® and NUCYNTA® ER

For full prescribing information, instructions for use, and medication guide for DURAGESIC®, please visit https://bit.ly/duragesicPI.

For full prescribing information and medication guides for NUCYNTA® and NUCYNTA® ER, please visit https://bit.ly/nucyntaPI and https://bit.ly/nucyntaER-PI.

Cautions Concerning Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the resolution agreement reached in New York State regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this press release is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this press release are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 30, 2020, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the company’s most recently filed Quarterly Report on Form 10-Q and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this press release.

Statement on Opioid Resolution

NEW BRUNSWICK, NJ, October 13, 2020 - Johnson & Johnson and its U.S.-based Janssen Pharmaceutical Companies disclosed that the Company will contribute up to an additional $1 billion to an all-in settlement amount that would resolve opioid lawsuits filed and future claims by states, cities, counties and tribal governments. This amount represents an increase to the $4 billion agreement in principle announced by a committee of State Attorneys General on October 21, 2019, for a total of $5 billion. Additional terms and conditions are still being finalized. This additional amount results from continued negotiations and is intended to maximize participation in the settlement. The settlement is not an admission of liability or wrongdoing, and the Company will continue to defend against any litigation that the final agreement does not resolve. The settlement will provide certainty for involved parties and critical assistance for families and communities in need.

Cautions Concerning Forward-Looking Statements

This statement contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding the additional $1 billion reserve for the resolution of opioid lawsuits filed and future claims by states, cities, counties and tribal governments. The reader is cautioned not to rely on these forward-looking statements. The information contained in this press release statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” in the company’s most recently filed Quarterly Report on Form 10-Q and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this release. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

Filing of Appellant’s Brief in Chief in Oklahoma

NEW BRUNSWICK, NJ, October 9, 2020 - We recognize the opioid abuse crisis is a tremendously complex public health issue. We have deep sympathy for everyone affected, and we are working with partners to find ways to help those in need.

We are moving forward with our appeal of the flawed judgment in Oklahoma. Janssen did not cause the opioid abuse crisis in the State, and left unchallenged, this radical reimagination of Oklahoma public nuisance law would have a grave impact on companies doing business there.

Johnson & Johnson publishes "Board Report on Oversight of Risk Related to Opioids"

NEW BRUNSWICK, NJ, October 5, 2020 - Access the "Board Report on Oversight of Risk Related to Opioids".

Statement from Johnson & Johnson on Oklahoma Court Order

NEW BRUNSWICK, NJ, November 15, 2019 - We are moving forward with our appeal of this judgment because it is neither supported by the facts nor the law. We recognize the opioid crisis is a tremendously complex public health issue and have deep sympathy for everyone affected. We do not believe litigation is the answer and are continuing to work with partners to find solutions.

Statement from Sabrina Strong, Partner, O’Melveny, and Outside Counsel for Johnson & Johnson and Janssen Pharmaceuticals, Inc., on Oklahoma Court Order

NEW BRUNSWICK, NJ, November 15, 2019 - Today marks another procedural step on the way to appeal. As was said when the judgment was announced, the Company has very strong grounds to have this decision overturned. The Company manufactured FDA-approved pain medicines, took steps to educate doctors so they could make informed treatment decisions with their patients, and trained their sales representatives to lawfully provide appropriate and accurate information to doctors.

Excerpt from Johnson & Johnson Press Release on Ohio Trial Settlement Agreement

Johnson & Johnson Reaches Settlement Agreement with Two Ohio Counties Ahead of Upcoming Opioid Trial

Company acted responsibly with its products and the settlement is not an admission of liability

$10 million settlement payment and additional commitments address all claims of the two counties

Company remains open to negotiating a viable, broader resolution to outstanding cases

NEW BRUNSWICK, NJ, October 1, 2019 - Johnson & Johnson (NYSE: JNJ) and its Janssen Pharmaceutical Companies today announced a settlement agreement with the Ohio counties of Cuyahoga and Summit that resolves all of the counties’ claims with no admission of liability and removes the Company from the federal trial scheduled to begin October 21, 2019. As part of the agreement, the Company will make a combined $10 million settlement payment to the counties.

The settlement allows the Company to avoid the resource demands and uncertainty of a trial as it continues to seek meaningful progress in addressing the nation’s opioid crisis. The Company recognizes the opioid crisis is a complex public health challenge and is working collaboratively to help communities and people in need.

Read the full press release by clicking here.

Excerpt from Johnson & Johnson Press Release on Oklahoma Lawsuit Judgment

Johnson & Johnson To Appeal Flawed Opioid Judgment in Oklahoma

Company did not cause opioid crisis; neither facts nor law support this outcome

Company confident it has strong grounds for appeal

NEW BRUNSWICK, NJ, August 26, 2019 - Johnson & Johnson (NYSE: JNJ) and its Janssen Pharmaceutical Companies today announced they will appeal the $572 million civil judgment entered in Cleveland County District Court in the State of Oklahoma’s lawsuit against opioid manufacturers. The Company is confident it has strong grounds to appeal this decision.

The judgment disregards the Company’s compliance with federal and state laws, the unique role its medicines play in the lives of the people who need them, its responsible marketing practices and that since launch, DURAGESIC®, NUCYNTA® and NUCYNTA® ER have accounted for less than one percent of total opioid prescriptions in Oklahoma as well as the United States.

“Janssen did not cause the opioid crisis in Oklahoma, and neither the facts nor the law support this outcome,” said Michael Ullmann, Executive Vice President, General Counsel, Johnson & Johnson. “We recognize the opioid crisis is a tremendously complex public health issue and we have deep sympathy for everyone affected. We are working with partners to find ways to help those in need.”

Read the full press release by clicking here.

Statement from John Sparks, Oklahoma counsel for Janssen Pharmaceuticals, Inc. and Johnson & Johnson, on Filing of Findings of Fact and Conclusions of Law in Oklahoma Trial

NEW BRUNSWICK, NJ, July 31, 2019 - We agree opioid abuse is a significant public health problem in Oklahoma, but the facts and the law in this case warrant a judicial decision rejecting the State’s public nuisance claim. Not once did the State identify a single Oklahoma doctor who was misled by a single Janssen statement, nor did it prove that Janssen misleadingly marketed opioids or caused any harm in Oklahoma. The State’s attempt to resolve this tremendously complex social problem with an unprecedented expansion of public nuisance law is misguided and legally unsustainable