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Money Talks from The Economist

Money talks: Big pharma in court

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 27 August 2019

⏱️ 28 minutes

🧾️ Download transcript

Summary

The pharmaceutical giant Johnson & Johnson has been ordered to pay $572 million for its part in the opioid crisis in the state of Oklahoma. What precedent will this set? In Jackson Hole, Federal Reserve Bank of St. Louis President James Bullard explains how the escalation of trade tensions is affecting monetary policy and he reacts to President Trump’s adversarial style. And finally, some funny business. Simon Long hosts

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Transcript

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0:00.0

They're not authors, but they help you shape your financial story.

0:04.0

They're not an airline, but they connect global businesses across nearly 160 local markets.

0:10.0

They're not interpreters that they listen to and understand their client's needs.

0:14.8

With global expertise and over two centuries of experience, Citi provides tools, insights and

0:20.8

guidance that helps clients thrive.

0:23.0

They're not just any bank, they are city.

0:26.0

Learn more at city.com slash we are city. City.

0:48.0

on Economist Radio. I'm Simon Long, international editor at The Economist. And coming up on today's show, what Central Bankers have been talking about at Jackson Hole?

0:52.0

The buzz of the conference was about the challenge of protectionism,

0:57.0

but also the challenge that the rest of the world faces

1:00.6

because all of these American actions are having spillover effects to them.

1:05.0

And can companies use comedy to give them an edge?

1:09.0

One of the great things about studying comedy and improvisation is it's very status oriented.

1:13.4

So it makes you understand the power of lower status,

1:16.9

the power of mental status, the power of high status,

1:18.5

and how it can constantly shift. But first the pharmaceutical giant Johnson and Johnson has been ordered to pay

1:37.8

five hundred and seventy two million dollars for its part in the opioid crisis in the state of Oklahoma.

1:44.0

The ruling was made in court by Thad Bulkman.

1:48.0

My judgment includes findings of facts and conclusions of law

1:52.0

that the state met its burden. and conclusions

1:55.0

and the state met its burden that the defendants Janssen and Johnson

1:58.0

and Johnson's misleading marketing and promotion of opioids

...

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