The inventor of Narcan, the nasal spray that can reverse an opioid overdose, said the decision by an Oklahoma judge to hold Johnson & Johnson responsible for fueling the state's opioid crisis is a major step in the nation's effort to combat the epidemic.
While the $570 million judgment was a fraction of the $17 billion requested by the state, Dr. Roger Crystal said that it illustrates "that the states are taking this crisis very seriously."
Narcan, which administers naloxone, blocks opioid receptor sites in a person's nervous system and can reverse the effects of an overdose — if administered quickly enough.
The nasal spray was first approved by the federal Food and Drug Administration in November 2015. Since then, the product has been used countless times to reverse overdoses from opioids, which include drugs such as oxycodone, hydrocodone, morphine, and illegal fentanyl, among others.
<i>The opioid epidemic in 2017 by the numbers. Credit: U.S. Department of Health and Human Services</i>
Each dose costs roughly $37, which, Crystal said is "totally appropriate" for a drug that can save a life. Still, roughly 130 people die everyday from opioid overdoses, according to government estimates.
The Johnson & Johnson decision is a "recognition of a serious opioid crisis," Crystal said, adding that opioids have "been the biggest killer of young Americans."
Crystal added, however, that while opioid manufacturers have "significantly contributed" to the crisis, addressing the issue will require a broader restructuring of how painkillers are prescribed and how doctors approach pain management.
Monday's court ruling also coincides with International Overdose Awareness Day, which is observed every year on August 31.
Tech apprenticeship platform Multiverse became a unicorn with a $1.7 billion valuation, after raising $220 million in a Series D round. As companies across the country face challenges in hiring and retaining tech talent, Multiverse says it's trying to offer a solution with a new way to train and hire workers that can serve as an alternative to college and corporate training. Sophie Ruddock, VP and GM North America of Multiverse, joins Cheddar News' Closing Bell to discuss.
Cheddar's Kristen Scholer caught up with all-time NBA great Shaquille O'Neal in his hometown of Newark, NJ, working with Icy Hot to repair rundown basketball courts around the country. The Hall of Famer also spoke about the current NBA finals between the Boston Celtics and Golden State Warriors and had a lot of praise for the Warrior's guard Stephen Curry. "He's the greatest shooter of all time. I had a conversation with Stephen A. [Smith], where does he rank? He's a special player. He has his own category," Shaq said.
On this episode of On The Job presented by ADP: Gemma Burgess, CEO of Ferguson Partners, explains what people are looking for in an employer, and how to convey positive work culture to potential employees; Amy Leschke-Kahle, Vice President of Performance Acceleration at The Marcus Buckingham Company, an ADP company, breaks down how encouraging employee engagement and empowering employee voices can benefit every workplace and busts a myth about employee engagement while working from home; Jim Huether, CEO of Hyperice, discusses Hyperice's new employee mental health initiative, known as the Workplace Alliance, with 100-plus companies to combat the ongoing mental health crisis and how they're taking a hands-on, data-driven approach to the mental health crisis.
