Wires

BRIEF-J&J Confirm Agreement In Principle To Settle Opioid Litigation

Oct 23 (Reuters) - Johnson & Johnson:

* J&J - CONFIRM AGREEMENT IN PRINCIPLE TO SETTLE OPIOID LITIGATION AS PUBLICLY ANNOUNCED AND OUTLINED BY A COMMITTEE OF STATE ATTORNEYS GENERAL

* J&J - WOULD CONTRIBUTE $4 BILLION, SUBJECT TO VARIOUS CONDITIONS AND AN AGREEMENT BEING FINALIZED TO SETTLE OPIOID LITIGATION - SEC FILING

* J&J - PREVIOUSLY REPORTED EPS FOR Q3 IS REDUCED FROM $1.81 TO $0.66

* J&J - PREVIOUSLY REPORTED GAAP NET EARNINGS FOR Q3 REDUCED FROM $4.8 BILLION TO $1.8 BILLION

* J&J - PREVIOUSLY REPORTED GAAP NET EARNINGS FOR 9 MONTHS ENDED SEPT. 29, 2019 IS REDUCED FROM $14.2 BILLION TO $11.1 BILLION

* J&J - NO IMPACT TO PREVIOUSLY REPORTED ADJUSTED EARNINGS, ADJUSTED EPS, ADJUSTED OPERATIONAL EPS FOR EACH OF THE PERIODS REPORTED

* J&J - CANNOT PREDICT IF OR WHEN AGREEMENT IN PRINCIPLE TO SETTLE OPIOID LITIGATION WILL BE FINALIZED

* J&J - CONFIRM AGREEMENT IN PRINCIPLE TO SETTLE OPIOID LITIGATION AS ANNOUNCED BY A COMMITTEE OF STATE ATTORNEYS GENERAL ON OCT. 21 Source text: (https://bit.ly/2W6BMGW) Further company coverage: