Johnson & Johnson Stock Price, News & Analysis

Johnson & Johnson (NYSE: JNJ) faces significant challenges in its third attempt to use the 'Texas Two-Step' bankruptcy strategy to manage talc-related liabilities. The U.S. Court of Appeals for the 3rd Circuit recently rejected J&J's previous bankruptcy attempt, deeming it filed in bad faith. Additionally, bipartisan legislation, the Ending Corporate Bankruptcy Abuse Act (ECBA) of 2024, has been introduced to ban such maneuvers.

J&J faces a July 26 deadline for talc claimants to vote on a third bankruptcy attempt. Critics argue the proposed compensation unfairly shortchanges victims. The company needs 75% approval to proceed with another Texas Two-Step filing in Texas. Lawyers representing ovarian cancer victims urge J&J to abandon this strategy and provide fair compensation.

Today at 5pm ET marks the final deadline for ovarian cancer victims to vote on Johnson & Johnson's (NYSE: JNJ) $8 billion talcum powder settlement. The plan, with a net present value of $6.475 billion, aims to compensate current and future claimants harmed by J&J's talc products. Ovarian cancer claimants are expected to receive $75,000 to $150,000 each on average.

The Ad Hoc Group of Counsel, representing over 77,500 individuals, urges all affected to vote YES, emphasizing that 75% approval is needed. They refute claims by opposing law firms, stating that the settlement offers a fair and timely resolution compared to prolonged litigation. Claimants can vote at www.OfficialTalcClaims.com or by calling 1-888-431-4056.

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.