New York Files Charges Against Johnson & Johnson Over Opioid Marketing
New York's Department of Financial Services filed civil charges against Johnson & Johnson (NYSE: JNJ) on Thursday, accusing the biopharmaceutical giant of downplaying the risks to patients associated with the use of prescription opioids.
Specifically, the state accuses Johnson & Johnson of mischaracterizing how safe and effective opioids are at controlling pain as part of its strategy to promote sales. According to the agency, the healthcare company's behavior "dramatically increased health insurance costs for New York consumers" by increasing prescription volume.
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Source Fool.com