Johnson & Johnson on Wednesday lowered its previously reported third-quarter profit by $3 billion to account for a proposed opioid settlement payment. The proposed deal will need broad support among all the state attorneys general and local governments that have sued the companies over the opioid crisis. J&J, which is facing thousands of lawsuits over a variety of products, lowered its reported profit to $1.8 billion, or 66 cents per share, from $4.8 billion, or $1.81 per share, and said there was no impact to its adjusted earnings numbers. …read more
Source:: Yahoo Finance
