Johnson & Johnson (JNJ) Stock News

Johnson & Johnson (NYSE: JNJ) has appointed Dr. John Reed as Executive Vice President of Pharmaceuticals, R&D, effective April 3, 2023. Dr. Reed brings over 35 years of experience in biomedical research, having previously served as Executive Vice President at Sanofi. He succeeds Dr. William Hait, who led the Pharmaceutical R&D organization on an interim basis since August 2022. CEO Joaquin Duato expressed confidence in Dr. Reed's capabilities to enhance innovation and competitiveness within the company. Dr. Reed has been instrumental in bringing multiple medicines to market during his career and aims to prioritize patient needs at Johnson & Johnson.

Biosense Webster, part of Johnson & Johnson MedTech, announced positive interim results from the inspIRE clinical study at the 28th Annual International AF Symposium. The study evaluated the safety and efficacy of the VARIPULSE™ Catheter and TRUPULSE™ Generator in treating recurrent paroxysmal atrial fibrillation (AF). Out of 226 enrolled patients across 13 centers, the study achieved an impressive 70.9% primary efficacy endpoint with 78.9% freedom from AF recurrence at 12 months. No serious adverse events were reported. The investigational device aims to provide a safer ablation technique, potentially reducing risks associated with traditional treatments.

Biosense Webster, part of Johnson & Johnson MedTech, announced positive results from the STELLAR study, presented at the 28th Annual International AF Symposium. This study evaluated the HELIOSTAR™ Balloon Ablation Catheter in patients with drug refractory symptomatic paroxysmal atrial fibrillation (AFib). Key findings include an acute pulmonary vein isolation (PVI) rate of 98.8%, with 67.7% primary effectiveness at 12 months. Furthermore, over 90% of participants remained free from repeat ablation after one year, with a clinical success rate of 77.7%. The HELIOSTAR™ is the first radiofrequency balloon catheter approved in EMEA for cardiac ablation.

Johnson & Johnson (NYSE: JNJ) will participate in the Cowen 43rd Annual HealthCare Conference on Tuesday, March 7, at the Boston Marriott Copley Place, Boston, MA. Joseph J. Wolk, Executive Vice President and Chief Financial Officer, is scheduled to represent the company at 11:10 a.m. Eastern Time. Investors and interested parties can access the live audio webcast on the company's website at www.investor.jnj.com. A replay of the audio webcast will be available approximately 48 hours after the event.

The U.S. Court of Appeals for the Third Circuit has rejected Johnson & Johnson's (NYSE: JNJ) bankruptcy strategy aimed at dismissing over 38,000 lawsuits from women with ovarian cancer linked to its talc-based products. This ruling allows victims to seek justice, challenging J&J's claims of financial distress. The court found that the shell company LTL Management, created by J&J to file for bankruptcy, is financially solvent with a $60 billion safety net to cover liabilities. As thousands of lawsuits are set to resume, legal experts suggest J&J's liability could exceed the allocated amount.

The U.S. Court of Appeals for the Third Circuit has ruled that Johnson & Johnson's (NYSE: JNJ) bankruptcy filing of its subsidiary, LTL, was not in good faith and dismissed the bankruptcy petition. This ruling allows approximately 38,000 talc-related lawsuits to proceed, alleging that J&J knowingly sold products tainted with asbestos, linked to ovarian cancer. The injunction, previously halting these cases since November 2021, will be lifted, allowing trials to commence. J&J has halted sales of talc-based products globally due to these legal challenges. The decision has led to discussions in Congress about potential changes to bankruptcy laws to address similar strategies in the future.

Johnson & Johnson (NYSE: JNJ) reported a fourth-quarter sales decline of 4.4% to $23.7 billion, primarily due to unfavorable foreign exchange and reduced COVID-19 Vaccine sales. However, operational growth excluding vaccine sales reached 4.6%. The 2022 full-year reported sales increased 1.3% to $94.9 billion. Earnings per share (EPS) for Q4 decreased by 24.9% to $1.33, while adjusted EPS increased by 10.3% to $2.35. For 2023, the company expects adjusted operational sales growth of 4.0% and adjusted EPS of $10.50, representing a 3.5% increase.

Biosense Webster, a unit of Johnson & Johnson MedTech, will present findings from five studies on cardiac arrhythmia treatment at the 28th Annual International AF Symposium in Boston from February 2-4. Two late-breaking studies include the multicenter inspIRE study, analyzing a novel pulsed field ablation catheter, and the STELLAR study on a radiofrequency balloon catheter for pulmonary vein isolation. These studies emphasize the company’s commitment to innovation in electrophysiology. Attendees can engage with new technologies at exhibit booth #111, showcasing advanced catheter solutions.

Johnson & Johnson (NYSE: JNJ) will participate in the SVB Securities Global Biopharma Conference on February 15 at 1:00 p.m. Eastern Time. The company will be represented by Biljana Naumovic, Worldwide Vice President, and Peter Lebowitz, Global Therapeutic Head for Oncology, in a virtual session. Investors can access the live audio webcast on the Johnson & Johnson website. A replay will be available approximately 48 hours after the event.