Johnson & Johnson beat earnings expectations in the final quarter of 2022 even as a strong dollar and sinking COVID-19 vaccine sales hurt revenue. The health care giant also debuted on Tuesday a better-than-expected 2023 earnings forecast. J&J said fourth-quarter earnings slipped 26 percent to $3.52 billion and revenue declined 4.4 percent to $23.71 billion….
J&J’s Cancer Drug Sales Help Weather Hit From Stronger Dollar
Johnson & Johnson on Tuesday reported quarterly results that beat analysts’ estimates on strong demand for cancer drug Darzalex and its COVID-19 vaccine, even as the company cut its full-year adjusted profit forecast due to a stronger dollar. J&J joins other major U.S. multinationals with sizeable international operations, including Microsoft Corp and IBM, in warning…
Contract Manufacturer Emergent Says J&J Breached Vaccine Contract
Contract manufacturer Emergent BioSolutions Inc. said on Monday U.S. drugmaker Johnson & Johnson had breached an agreement by failing to buy the minimum quantity of COVID-19 vaccines made by the company. Emergent said J&J had failed to provide required forecasts for the amount of vaccines it needed and had wound down the agreement instead of…
J&J Sues to Block Sales of ‘Dangerous’ Counterfeit HIV Drugs
Johnson & Johnson has filed a lawsuit against drug distributors and a pharmacy seeking to stop the sale of counterfeit versions of its HIV drugs, months after a similar case brought by Gilead Sciences Inc. In a complaint filed on April 7 and made public on Tuesday, J&J said it had learned of widespread counterfeiting…
J&J Suspends Sales Forecast for COVID Vaccine Citing Uncertainty in Demand, Global Supply Surplus
Johnson & Johnson suspended sales forecasts for its COVID-19 vaccine on April 19, citing a global supply surplus and uncertainty when it comes to future demand for the shot. The company had previously predicted as much as $3.5 billion in 2022 sales from the single-dose vaccine, but demand for the shot has dwindled behind that of…
EU Regulator Backs Giving J&J Booster Shot to Adults 2 Months After Initial Dose
The European Union’s drug regulator on Wednesday concluded a Johnson & Johnson (J&J) COVID-19 booster dose may be considered for people aged 18 and older at least two months after their initial shot. In a Dec. 15 statement, the European Medicines Agency (EMA) said the recommendation by the agency’s human medicines committee follows data it…
Futures Edge Higher on Boost From J&J, Tech Stocks
November 12, 2021
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U.S. stock index futures edged higher on Friday as Johnson & Johnson and technology stocks led gains at the end of a week scarred by deepening concerns over prolonged inflation. All the major U.S. indexes were set for a more than 1 percent weekly drop, their first since the week ended Oct. 1, as hot…
Wall Street Powers Higher on J&J, Big Tech Boost
November 12, 2021
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U.S. stock indexes rose on Friday, as Johnson & Johnson and big technology and communication stocks led gains at the end of a week scarred by deepening concerns over prolonged inflation. Johnson & Johnson rose 1.4 percent after saying it planned to break up into two companies focused on its consumer health business and the…
US Judge Halts Johnson & Johnson Talc Litigation for 60 Days
CHARLOTTE, N.C.—A U.S. bankruptcy judge on Wednesday put a 60-day halt on tens of thousands of legal claims against Johnson & Johnson that allege its talc-based products cause cancer. U.S. Bankruptcy Judge Craig Whitley ordered the halt at a hearing in Charlotte, North Carolina. He also decided to transfer the talc cases to a federal…
Oklahoma Court Overturns $465 Million Opioid Judgment Against J&J
The Oklahoma Supreme Court on Tuesday overturned a $465 million judgment against Johnson & Johnson in a lawsuit by the state alleging the drugmaker fueled the opioid epidemic through the deceptive marketing of painkillers. The decision marked the latest setback for states and local governments pursuing lawsuits to hold pharmaceutical companies responsible for a drug…
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