|Bid||131.30 x 800|
|Ask||131.75 x 800|
|Day's range||130.82 - 132.62|
|52-week range||121.00 - 148.99|
|Beta (3Y monthly)||0.73|
|PE ratio (TTM)||21.81|
|Earnings date||15 Oct 2019|
|Forward dividend & yield||3.80 (2.94%)|
|1y target est||149.76|
The coming week’s docket of economic reports and earnings releases comes just following the Trump administration’s announcement of a partial trade deal with China late last week.
FDA approves Novartis' (NVS) Beovu. J&J (JNJ) files sBLA for Stelara. Pfizer (PFE), Novo Nordisk (NVO) and Glaxo (GSK) announce collaboration deals.
With most blue-chip companies earnings scheduled over the coming weeks and sentiments being mixed, investors should closely monitor the movement of the Dow ETF and grab an opportunity that arises from a surge in any of the 30 stocks.
J&J's (JNJ) cancer drugs are expected to contribute significantly to third-quarter 2019 earnings. Generic/biosimilar headwinds are expected to hurt Pharma unit's sales.
Philadelphia jury orders J&J (JNJ) to pay punitive damages of $8 billion to a man who claims that the use of Risperdal caused him to develop breasts.
The jury in a Philadelphia court awarded the $8 billion to a man who previously won $680,000 over his claims that it failed to warn that young men using Risperdal could grow breasts. J&J called the sum "grossly disproportionate with the initial compensatory award" and said it was confident it would be overturned. Legal experts agreed that the penalty was likely to be slashed.
(Bloomberg) -- Johnson & Johnson’s Janssen unit was hit with an $8 billion punitive-damages verdict -- the largest jury award in the U.S. this year -- over its alleged mishandling of an anti-psychotic drug blamed for causing adolescent boys to grow female-sized breasts.A state court jury in Philadelphia Tuesday concluded the Janssen’s wrongful marketing of its Risperdal drug to teens warranted the punishment award in the first Pennsylvania case in which such damages could be awarded under an appellate ruling.The award came in the case of Nicholas Murray, a Maryland resident who began taking Risperdal as a child to help battle autism. A separate jury awarded Murray $1.75 million in actual damages in 2015 on his claims the drug caused him to develop female breasts. That award later was cut to $680,000 under Maryland law.The verdict, which is unlikely to be upheld on appeal, may nonetheless sound an ominous warning for J&J since the company still faces more than 13,000 suits over its Risperdal marketing and failure to warn teens about its health risks, according to the company’s filings with the U.S. Securities and Exchange Commission. More than 7,000 of those cases are pending in state court in Philadelphia, according to court records.Given the number of trials J&J and Janssen still face in Philadelphia, the $8 billion verdict may prompt consideration of setting up a global settlement of the Risperdal litigation, said Carl Tobias, a University of Richmond law professor who teaches about mass torts. The company already has settled some cases, he noted.“That type of punitive-damage award will encourage more plaintiffs and their counsel to pursue more cases vigorously,” he said. “It may make sense to get out now.”J&J officials vowed to appeal the ruling and said the punitive award was excessive compared to the actual-damage figure. The drugmaker also faulted a judge’s refusal to allow it to present mitigating evidence about Janssen’s handling of the drug.“This decision is inconsistent with multiple determinations outside of Philadelphia regarding the adequacy of Risperdal’s labeling, the medicine’s efficacy, and findings in support of the company,” Ernie Knewitz, a J&J spokesman, said in an interview.J&J shares fell $3.11, or 2.4%, to $128.73 in premarket trading on Wednesday. The company’s shares have been under pressure in recent months because of litigation woes spawned by suits alleging its iconic Baby Powder is causing various types of cancers. J&J is also facing numerous legal claims over its alleged role in the U.S. opioid addiction and overdose crisis.“This jury resoundingly told J&J that its actions were deliberate and malicious,” Tom Kline and Jason Itkin, two of Murray’s lawyers, said in an emailed statement. “The conduct the jury saw in the courtroom was clear and convincing that J&J disregarded the safety of children.” Stephen Sheller, another of Murray’s lawyers, added in an interview that the verdict shows that J&J “can’t get away with this kind of conduct anymore.”Plaintiffs contend J&J and Janssen illegally marketed Risperdal to youngsters prior to 2007, when U.S. Food and Drug Administration officials approved its use for teens diagnosed with autism. The companies also face allegations they hid the risk the drug could cause breast development to protect billions of dollars in profits.In 2013, J&J agreed to pay $2.2 billion to resolve criminal and civil probes into allegations that it illegally marketed the drug to children and the elderly. The settlement, which also includes marketing claims about two other J&J drugs, was one of the largest U.S. health-fraud penalties in history.A Pennsylvania Superior Court ruling in 2018 cleared the way for punitive damages to be considered in Risperdal cases tried in the state. Some juries had been improperly barred from weighing such damages in the past, the court concluded.The $8 billion verdict is four times the size of the next-largest U.S. award so far this year. In May, a California jury awarded a couple $2.055 billion in compensatory and punitive damages over claims they got cancer from exposure to Bayer AG’s Roundup weed-killer. That award was later cut to $86.7 million.J&J had more than $15 billion in net earnings last year, according to data compiled by Bloomberg.The Philadelphia case is Murray v. Janssen Pharmaceuticals Inc., Johnson & Johnson Company, and Janssen Pharmaceutical Research and Development LLC., 130401990, Philadelphia County Court of Common Pleas.(Updates stock-price information in ninth paragraph)To contact the reporters on this story: Jef Feeley in Wilmington, Delaware at firstname.lastname@example.org;Riley Griffin in New York at email@example.comTo contact the editors responsible for this story: David Glovin at firstname.lastname@example.org, ;Drew Armstrong at email@example.com, Peter Blumberg, Timothy AnnettFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com – Wall Street opened higher for the first time in three sessions on Wednesday, driven by news that China had extended a peace offering ahead of high-level trade talks this week.
Nicholas Murray was proscribed drug Risperdal as a child but claims he was not made aware of the possible side effects.
Investing.com - Wall Street was set to open higher on Wednesday on trade optimism after China reportedly offered to increase soybean purchases to 30 million tonnes from 20 million tonnes currently purchased in a peace offering ahead of high-level trade talks in Washington this week.
Investing.com -- Hopes for a limited trade deal spark a modest bounce in stocks, while Turkey gets ready to invade Syria and the Federal Reserve prepares to release the minutes from its last policy meeting. Here's what you need to know in financial markets on Wednesday, 9th October.
The U.S. prestige beauty industry is booming, but teens are spending significantly less on beauty products, according to a new survey from Piper Jaffray.
Johnson & Johnson (JNJ) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Theravance's (TBPH) newly-launched COPD drug Yupelri is witnessing a solid adoption while its pipeline programs are also progressing well. However, excessive reliance on Yupelri for revenues is a woe.
J&J (JNJ) settles with two Ohio plaintiffs for $10 million. FDA updates for AstraZeneca (AZN), Merck (MRK) and others and ESMO presentations by big pharma companies in focus.
J&J (JNJ) announces that the FDA has granted Breakthrough Therapy status to its PARP inhibitor, niraparib, for the treatment for advanced prostate cancer.