Publicis To Pay $350M In First-Ever Opioid Marketing Settlement
Portfolio Pulse from Benzinga Neuro
Publicis Groupe SA (OTC:PUBGY) has agreed to a $350 million settlement over its alleged role in the opioid crisis, marking the first time an advertising firm has been held accountable in this context. The settlement, led by the New York and Colorado Attorneys General, involves eight other states and prohibits Publicis from taking on any future opioid-related projects. Publicis was accused of aiding Purdue Pharma in overprescribing opioids through misleading marketing campaigns.
February 02, 2024 | 11:21 am
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Publicis Groupe SA has settled for $350 million over its role in the opioid crisis, agreeing to not take on future opioid-related projects.
The settlement is a significant financial outlay for Publicis and marks a historic moment as it's the first time an advertising firm has been held accountable in the opioid crisis. This could lead to short-term negative sentiment among investors due to the substantial settlement amount and the potential impact on Publicis's future business opportunities in the pharmaceutical sector.
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