Johnson & Johnson on Wednesday lowered its previously reported third-quarter profit by US$3 billion to account for a proposed opioid settlement payment. Johnson & Johnson (J&J) has reduced its Q3 profits from $4.8bn to $1.8bn, following a recent proposed $4bn opioid settlement payment. J&J said it did not know when the settlement would be finalised, but would make any necessary accounting adjustments after the fact. The company also announced that sales of two other drugs were down in Q3, with one falling by more than 50% and another dropping by 30%.
Johnson & Johnson (J&J) has reduced its Q3 profits from $4.8bn to $1.8bn, following a recent proposed $4bn opioid settlement payment. J&J said it did not know when the settlement would be finalised, but would make any necessary accounting adjustments after the fact. The company also announced that sales of two other drugs were down in Q3, with one falling by more than 50% and another dropping by 30%.