J&J slashes third-quarter profit by $3 billion over proposed opioid deal

(Reuters) - Johnson & Johnson on Wednesday lowered its previously reported third-quarter profit by $3 billion (£2.33 billion) to account for a proposed opioid settlement payment.A framework settlement, announced on Monday, was hammered out by some drugmakers and distributors and attorneys general in North Carolina, Pennsylvania, Tennessee and Texas. The proposed deal will need broad support among all the state attorneys general and local governments that have sued the companies over the opioid..