|Day's range||68.00 - 68.10|
Both Hong Kong and Russia announced strict travel measures from mainland China, with the U.S. government expanding screening measures at key airports on Tuesday.
Johnson & Johnson Chief Executive Alex Gorsky on Monday faced questions from plaintiffs lawyers over the timing of his sale of company stock, as he testified for the first time in a jury trial over allegations that the company's Baby Powder causes cancer. Gorsky told the jury that he had sold company shares in November 2018, two days after a Reuters reporter contacted the company and summarized in an email her review of documents that showed J&J knew small amounts of asbestos had been found in its talc on occasion since 1971.
Johnson & Johnson Chief Executive Officer Alex Gorsky was set to be called as a witness on Monday in what would be his first appearance in a jury trial over allegations that the company's Baby Powder causes cancer. Lawyers for three men and one woman who sued J&J subpoenaed Gorsky in a trial playing out in a state courtroom in New Brunswick, New Jersey near the company's headquarters. All four have mesothelioma, a rare and incurable cancer that they said was caused by their exposure to asbestos in Baby Powder applied when they were diapered as infants.
J&J (JNJ) announces mixed Q4 results. Roche's (RHHBY) lymphoma drug, Polivy and Novartis' (NVS) Mayzent for secondary progressive multiple sclerosis (SPMS) get approval in Europe.
Johnson & Johnson (JNJ) receives the European Commission's (EC) nod to the line extension of Stelara to treat six to 11-year-old pediatric patients with moderate-to-severe plaque psoriasis.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Johnson & Johnson (JNJ) have what it takes? Let's find out.
(Bloomberg) -- Johnson & Johnson posted weaker-than-expected sales in the final quarter of 2019, raising the stakes for the health-care conglomerate as it banks on new cancer and immunology drugs to replace a group of aging blockbusters.Some of the company’s most lucrative medicines are facing competition from generics and biosimilars. Arthritis drug Remicade’s sales fell more than 16% from a year earlier in the quarter, while Zytiga, an older treatment for prostate cancer, saw a nearly 14% decline.At the same time, J&J’s storied consumer businesses are also being pressed by upstarts. Sales of its baby-care products declined more than 26% in the U.S. as consumers increasingly look for alternatives to the company’s shampoos, lotions and other one-time medicine-cabinet staples.As the company adapts to those changes, it also is confronting increasing political blowback over high drug prices, trade turbulence and a series of lawsuits tied to a range of its products, from opioids to baby powder.“We face a variety of challenges from debates about the health-care system in our country to uncertainty with global trade to today’s litigious environment, to name a few,” said Chief Executive Officer Alex Gorsky on a conference call with investors Wednesday.Overall, the New Brunswick, New Jersey-based company reported fourth-quarter revenue of $20.75 billion, just short of the $20.87 billion analysts had expected.J&J shares declined 0.9% to $147.93 at 10:47 a.m. in New York on Wednesday. They had advanced 16% in the past 12 months through Tuesday’s close.Income DriverIn the year ahead, J&J is likely to draw much of its growth from sales of cancer and immunology drugs. For 2020, adjusted earnings per share are expected to be $8.95 to $9.10. Heading into Wednesday’s results, Wall Street analysts had expected $9.09, on average.Indeed, such drugs were already a bright spot in the fourth quarter. Sales of Stelara, a treatment for psoriasis, jumped 18% to $1.7 billion. Cancer drug Darzalex brought in $830 million in the quarter, up 42% from a year ago.“Darzalex is transforming the field of multiple myeloma right now,” Jan G. J. van de Winkel, the CEO of Danish biotech Genmab, which collaborated with J&J’s Janssen unit to develop Darzalex, said in an interview last week. “It’s a substantial income driver that any company would be happy about.”Chief Financial Officer Joseph Wolk said J&J is focused on highlighting such best-in-class assets, while potentially shedding those that are growing more slowly.“We continually look and manage our portfolio in a very rigorous fashion, making sure that we are the best owners of the assets that we have on that,” he said on Wednesday. “That works both ways. So we look to complement our portfolio, but we’ll also look to take underperforming businesses and create value for shareholders in other ways.”Other HeadwindsGorsky told investors on Wednesday he was “extremely proud overall with the performance of our pharmaceutical group,” but was particularly impressed with the immunology vertical’s ability to mitigate biosimilar impact on Remicade.“Despite the mixed results” this quarter, Cantor Fitzgerald analyst Louise Chen said she would continue to recommend J&J “as one of our top ideas in 2020.” Chen has an overweight rating on the stock.Concerns about the company’s legal exposure have cast a shadow over its shares at times. J&J has been fighting more than 100,000 suits alleging injuries and illnesses caused by its baby powder, opioid painkillers and other products, though it’s scored a few wins in the courtroom of late.The company had about $5.1 billion in litigation expenses in 2019, it said Wednesday, including a $4 billion charge associated with a proposed deal to resolve all claims accusing the company of helping fuel the U.S. opioid epidemic. A final agreement has yet to be reached.\--With assistance from Jef Feeley.To contact the reporter on this story: Riley Griffin in New York at email@example.comTo contact the editors responsible for this story: Drew Armstrong at firstname.lastname@example.org, Timothy Annett, Mark SchoifetFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of the healthcare conglomerate fell nearly 2% to $146.62 after it reported a rare miss on quarterly revenue, as sales of cancer drug Imbruvica and psoriasis treatment Stelara came in below lofty Wall Street estimates. J&J's pharmaceuticals unit, which makes up half of the company's overall sales, has powered much of its recent growth.
Johnson & Johnson (JNJ) delivered earnings and revenue surprises of 1.08% and -0.21%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Johnson & Johnson (NYSE:JNJ) raised its guidance for underlying earnings and revenue after a strong fourth quarter on Wednesday but was unable to stop reported earnings slumping due to costs related to opioid- and talc-related lawsuits. The company announced fourth-quarter adjusted earnings of $1.88 a share for the quarter, 1c ahead of forecasts, but reported earnings tumbled by 54% to only 66c. Revenue also fell short of forecasts slightly at $20.75 billion.
Dow component Johnson & Johnson earnings and existing home sales for December will be the focal points for investors Wednesday.
Johnson & Johnson (JNJ) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Drug companies are not making progress against the spread of antibiotic resistance at a scale and speed great enough to tackle the global health threat posed by superbugs, a key benchmark analysis found on Tuesday. The findings of a second Antimicrobial Resistance (AMR) Benchmark report showed that while a few pharmaceutical companies are expanding their efforts, change is not happening at the scale needed to radically impact the problem. In India, drug resistance exceeds 70% for many widespread bacteria, the AMR report said.