One Oklahoma family stands firm in the fight against Johnson and Johnson. Former OU linebacker Austin Box passed away in 2011 at the young age of twenty-two. The enid native overdosed on opioid pain medication.
After the ruling in favor of the state of Oklahoma, Box’s mother said,
“Anytime we can bring… shine a light on the epidemic so that people will understand and educate everyone as to the dangers because we know that that didn’t happen whenever these drugs were being marketed. Nothing’s going to bring my son back, but this victory allows his death to stand for something, and I know he’s cheering right now.”
The family has began the Austin Box foundation to educate students about the dangers of prescription drug abuse.
Also in the wake of the ruling, Johnson and Johnson stocks are up by two percent. The nearly $600 million fine is much lower than the original $17 billion the state was seeking.
However, more than twice the amount another drug manufacturer agreed to pay in a settlement. Other pharmaceutical companies such as Teva and Endo are seeing a decline in their stocks.
OU Nightly reached out to finance experts at the Price College of Business to see why Johnson and Johnson stocks thrive despite the trial’s verdict.
Dr. Scott Linn says, “One explanation is that the market expected the amount awarded to Oklahoma to be larger. And as it was smaller than expected, this was a positive surprise.”
Johnson & Johnson says it plans to appeal its case.