Johnson & Johnson Stock Price, News & Analysis

Johnson & Johnson (NYSE: JNJ) is set to participate in the Morgan Stanley 22nd Annual Global Healthcare Conference on September 4th at the New York Marriott Marquis. Joaquin Duato, Chairman and CEO, and John Reed, Executive VP of Innovative Medicine R&D, will represent the company in a session scheduled for 10:45 am ET.

A live audio webcast of the session will be available on Johnson & Johnson's investor website. Investors and interested parties can access the webcast at www.investor.jnj.com. An audio replay will be available approximately 48 hours after the event.

Lawyers representing ovarian cancer victims are urging a NO vote on Johnson & Johnson's (NYSE:JNJ) latest $6.5 billion bankruptcy settlement plan. They claim J&J is misleading potential claimants and attempting to secure approvals from individuals without documented ovarian cancer diagnoses. The attorneys argue this strategy could reduce payments to legitimate victims who have incurred losses of $500,000 or more.

The deadline for voting on the bankruptcy proposal is July 26, 2024. Opponents of the plan note that approval would eliminate rights to a jury trial for current and future victims. Since 2016, juries have awarded over $5.4 billion in damages to ovarian cancer claimants, although this amount has been reduced in subsequent court proceedings.

Johnson & Johnson has submitted a supplemental New Drug Application (sNDA) to the U.S. FDA seeking approval of SPRAVATO® (esketamine) as a monotherapy for adults with treatment-resistant depression (TRD). This submission is based on positive results from the Phase 4 TRD4005 study, which showed rapid improvement in depressive symptoms as early as 24 hours after the first dose, sustained through at least 4 weeks of treatment. The safety profile was consistent with existing clinical data.

SPRAVATO® is currently approved in combination with an oral antidepressant for TRD and depressive symptoms in adults with major depressive disorder (MDD) with acute suicidal ideation or behavior. It has been approved in 77 countries and administered to over 100,000 people worldwide. This new application aims to expand its use as a standalone treatment for TRD, potentially offering a new option for patients who have not responded adequately to multiple oral antidepressants.

Johnson & Johnson (NYSE: JNJ) has declared a cash dividend of $1.24 per share for the third quarter of 2024. The dividend will be payable on September 10, 2024 to shareholders of record at the close of business on August 27, 2024. The ex-dividend date is also set for August 27, 2024. This announcement demonstrates JNJ's commitment to returning value to shareholders through consistent dividend payments.

Johnson & Johnson (NYSE: JNJ) reported strong Q2 2024 results with reported sales growth of 4.3% to $22.4 Billion and adjusted operational growth of 6.5%. The company's EPS decreased by 5.9% to $1.93 due to one-time special charges, while adjusted EPS increased by 10.2% to $2.82.

Key highlights include:

• Robust pipeline progress with TREMFYA, RYBREVANT, and VARIPULSE
• Increased full-year 2024 operational sales guidance reflecting Shockwave Medical acquisition
• Updated full-year 2024 adjusted operational EPS guidance
• Strong performance in Innovative Medicine and MedTech segments

The company's focus on medical innovation and strategic acquisitions positions it for continued growth.

Johnson & Johnson (NYSE: JNJ) has completed the acquisition of Yellow Jersey Therapeutics, a subsidiary of Numab Therapeutics, for $1.25 billion. This acquisition secures JNJ the global rights to NM26, a novel, investigational bispecific antibody targeting IL-4Rα and IL-31 pathways in atopic dermatitis (AD). NM26 is ready for Phase 2 clinical trials and aims to provide better treatment for AD by addressing multiple disease-driving pathways. The investment aligns with JNJ's mission to improve care for immune-mediated diseases.

Johnson & Johnson (NYSE: JNJ) announced positive results from an interim analysis of the Phase 3 CARTITUDE-4 study, which evaluated CARVYKTI® (ciltacabtagene autoleucel; cilta-cel) against standard therapies for treating multiple myeloma in patients who have had one prior line of therapy. The study showed that CARVYKTI® achieved a statistically significant and clinically meaningful improvement in overall survival (OS) compared to standard treatments like PVd and DPd. The safety profile was consistent with the approved label. These results will be shared at an upcoming medical meeting and submitted to regulatory authorities.

Johnson & Johnson announced positive results from the Phase 3 Vivacity-MG3 trial of nipocalimab in patients with generalized myasthenia gravis (gMG). The study showed that patients treated with nipocalimab plus standard of care (SOC) improved significantly more than those on placebo plus SOC in the MG-ADL score over 24 weeks. The trial included a broad range of gMG patients, representing 95% of the population. Key secondary endpoints, including muscle strength and function, also showed significant improvements. Safety and tolerability were consistent with prior studies. These findings will be presented at the EAN 2024 Congress and submitted to regulatory authorities.

The U.S. Supreme Court has denied Purdue Pharmaceuticals' $7 billion bankruptcy plan, which sought to grant the Sackler family immunity from further liability for their role in the opioid crisis. This decision has significant implications for Johnson & Johnson (NYSE:JNJ), which is attempting to use bankruptcy protection to resolve tens of thousands of ovarian cancer claims related to its talc-based products.

The Beasley Allen Law Firm, representing the plaintiffs in the talc/ovarian cancer multidistrict litigation (MDL), believes this ruling undermines J&J's similar attempts to use bankruptcy as a shield. The court's decision reinforces that financially solvent entities cannot use bankruptcy to escape liability for marketing and manufacturing dangerous products.

This ruling could derail J&J's efforts to return the talc litigation to bankruptcy courts, potentially moving forward with trials that support the plaintiffs' constitutional rights and address the substantial financial and emotional toll suffered by J&J’s victims.