Results for: Johnson & Johnson

Pharmaceutical giant Johnson & Johnson (JNJ) has filed a lawsuit against a US government agency over a dispute concerning the 340B Drug Pricing Program. J&J argues that the program has been exploited by entities not intended as beneficiaries, leading to abuses that undermine patient benefits. The lawsuit centers around J&J’s proposed rebate-based pricing model, which aims to improve program transparency and curb duplicate discounting. However, the government agency responsible for overseeing the program, HRSA, has resisted the plan, leading to the legal action.

Johnson & Johnson’s Tremfya (guselkumab) demonstrated significant clinical remission and endoscopic response in patients with Crohn’s disease in the Phase 3 GRAVITI study. The drug achieved over three times the clinical remission rate compared to placebo, indicating its potential as a treatment option for this debilitating condition.

The U.S. Trustee Program has filed a motion to dismiss Johnson & Johnson’s latest bankruptcy filing, which aims to settle over 60,000 talc-related lawsuits. The DOJ argues that this maneuver is a bad-faith attempt to avoid billions in liability, citing the company’s history of similar tactics. This move comes after Johnson & Johnson increased its settlement offer to $9 billion, but the DOJ believes the company is seeking a third-party release to shield itself from liability.

Starboard Value, a prominent activist investor, has reportedly acquired a significant stake in Kenvue Inc., the company behind popular consumer brands like Tylenol and Listerine. The move signals potential changes for Kenvue, which has faced stock underperformance since its spin-off from Johnson & Johnson last year. Starboard’s CEO, Jeff Smith, is expected to outline his plans for Kenvue at an upcoming activist investing conference.

A Connecticut jury has found Johnson & Johnson liable for $15 million in a case alleging that the company’s talc powder caused a man to develop mesothelioma. The verdict comes as J&J faces thousands of similar lawsuits and seeks to resolve claims related to ovarian and gynecological cancers through a bankruptcy settlement.

Johnson & Johnson (JNJ) exceeded analysts’ expectations for both earnings and revenue in the third quarter of 2024, driven by strong performance in its pharmaceutical segment. However, the company faces challenges in its med tech business due to market pressures and anticipates a decline in Stelara sales with the entry of biosimilars. Despite these headwinds, analysts remain cautiously optimistic about Johnson & Johnson’s long-term prospects.

Johnson & Johnson exceeded third-quarter earnings expectations and raised its full-year outlook, driven by strong pharmaceutical sales. Meanwhile, Walgreens Boots Alliance announced plans to close 1,200 stores amid ongoing struggles.

Johnson & Johnson is set to release its third-quarter earnings on October 15, with Wall Street expecting strong financial results. However, recent headlines surrounding MedTech acquisitions and drug trial halts are overshadowing the company’s financial performance. Investors will be closely watching to see how these events impact J&J’s future growth prospects.

Johnson & Johnson has stopped its Phase 3 SunRISe-2 trial for TAR-200, a potential treatment for muscle-invasive urothelial carcinoma (MIBC), after an independent review board determined it wasn’t outperforming standard chemotherapy. Despite this setback, the company remains confident in the overall potential of the TARIS platform and its future prospects in bladder cancer treatment.

Johnson & Johnson, through its subsidiary Red River Talc, has filed for bankruptcy for the third time to resolve thousands of lawsuits related to its talc products. This move comes after two previous bankruptcy attempts were rejected by courts. The new plan proposes a $6.5 billion settlement over 25 years to resolve 99.75% of the talc lawsuits, with support from 83% of claimants. This filing marks a significant development in the ongoing saga of Johnson & Johnson’s talc litigation.