J&J Potential Opioid Liability `Remains a Wildcard,’ Cowen Says

While cases making arguments against product makers under public nuisance laws succeed in lower state courts they usually fail at an appellate level. Prevailing in higher courts then, could allow Johnson & Johnson “to settle for a substantially smaller amount than it would today,” although the amount of any potential liability in opioid litigation “remains a wildcard,” Cowen analyst Josh Jennings writes in a note to clients.

• “Trying to assess JNJ’s actual liability is impossible at this juncture,” Cowen said after consulting a legal expert. Investors shouldn’t extrapolate any potential settlement in Oklahoma to other states, “as each state will ...