|Day's range||39.15 - 39.80|
Under the deal, starting next year Emergent will provide large-scale manufacturing services to produce the drug substance over five years, with the first two years valued at about $480 million. The news follows a $135 million deal struck by the two companies in April, to use Emergent's manufacturing facilities to help make more than 1 billion doses of the vaccine J&J is testing to stop the coronavirus. Emergent has also signed similar deals to expand the manufacturing capacity of COVID-19 vaccines under development by AstraZeneca Plc <AZN.L>, Novavax Inc <NVAX.O> and Vaxart Inc <VXRT.O>.
In less than five weeks, the benchmark S&P 500 (SNPINDEX: ^GSPC) plunged 34%, representing the fastest bear market descent in history. Of the past eight bear markets, there have been 13 total corrections of at least 10% within the three years following a bear market bottom. This means the typical rise from a bear market bottom features one or two substantive corrections.
Early signs of the shift came Wednesday, when positive data for one of Pfizer Inc’s COVID-19 vaccine candidates sent shares of the large U.S. drugmaker up more than 3%. Although the news had little effect on shares of Pfizer’s large rivals in the vaccine race, smaller peers Moderna Inc and Inovio Pharmaceuticals Inc, both of which have previously shown promising COVID-19 data of their own, ended down more than 4% and 25%, respectively. For the week so far, shares of bigger players in the vaccine race, such as Johnson & Johnson and Merck , have also outperformed Inovio and Moderna.
A flurry of legal challenges is always a good reason for investors to be wary of a company. Lawsuits related to its talc-based products and the company's role in the opioid crisis present some of the biggest risks to long-term investors. Although J&J may be able to manage those legal challenges today, that doesn't mean it always will.
As two of the largest healthcare companies in the world, both Eli Lilly (NYSE: LLY) and Johnson & Johnson (NYSE: JNJ) have a role to play in well-balanced healthcare portfolios. With a profit margin of 23.8%, 15.1% year-over-year quarterly revenue growth, and trailing-12-month revenues of $23.1 billion, Eli Lilly exudes success.
A rising dividend stream not only hedges against inflation, it also accelerates payback on investment.
Emergent BioSolutions has become the go-to manufacturing partner for companies looking to develop vaccines for the coronavirus.
Johnson & Johnson (JNJ) closed the most recent trading day at $139.04, moving +0.89% from the previous trading session.
Stelara, which blocks two inflammation-causing proteins IL-12 and IL-23, is one of J&J's largest revenue generators, bringing in sales of about $1.82 billion in first quarter this year. The drug is approved in the United States to treat the skin condition scaly plaque psoriasis, a type of arthritis associated with psoriasis and Crohn's disease.
(Bloomberg) -- While Bayer AG said it took a major step toward wrapping up litigation over its Roundup weedkiller with a settlement of almost $11 billion, the company still faces about 30,000 unresolved cancer claims that could cost billions, and lawyers are vowing even more lawsuits.“If Bayer and its investors thought the Roundup litigation was wrapped up in a nice, neat ball with this settlement, they are sadly mistaken,” said Tom Kline, a Philadelphia-based plaintiffs’ lawyer who won an $8 billion verdict against Johnson & Johnson last year over one of its anti-psychotic drugs. “We are working hard getting these cases in and ready for trial.”Roundup litigation was by far the biggest liability that the German chemical giant inherited when it acquired Monsanto for $63 billion in 2018. On Wednesday, Bayer announced settlements totaling $12.1 billion that included as much as $10.9 billion for Roundup, $820 million for toxic-chemical pollution and $400 million related to damage from a dicamba-based herbicide.But Bayer only managed agreements to end about 95,000 of the 125,000 lawsuits claiming Roundup caused cancer. The others refused to settle, and the number of cases is growing. Last week, attorney Fletch Trammell filed 13 suits on behalf of kids who developed non-Hodgkin’s lymphoma after being exposed to the weedkiller in backyards, parks and playgrounds.Read More: How Roundup Went From Bayer Asset to Burden“The settlement announcement feels like Bayer is trying to stop a gigantic problem by putting its finger in the proverbial dam,” said Jason Itkin, a Houston based lawyer who won a $70 million verdict against J&J last year. “Every day, new people are diagnosed with Roundup-induced cancer. There will be thousands and thousands of future cases because Bayer is currently still selling this dangerous product.”The company denies Roundup’s active ingredient, glyphosate, is a carcinogen, a position backed by the U.S. Environmental Protection Agency.William Dodero, Bayer’s global head of litigation, said at a press conference Wednesday he couldn’t predict how many new Roundup cases will emerge. But the Leverkusen, Germany-based company has made progress in ending its Roundup litigation, resolving all the cases set for trial and those brought by the plaintiffs’ lawyers leading the litigation, Dodero said.The settlements must still be approved by a federal judge in San Francisco who has some of the cases consolidated before him.“This litigation has been going on for four years with speculation about settlement for more than a year and plaintiff attorneys have had ample opportunity to bring forward claims,” Chris Loder, a company spokesman, said in an emailed statement. “We’ve now settled approximately 75% of claims, resolved cases with all leaders” on the plaintiffs side and “have an allowance to resolve the remaining cases.”Shareholders seemed to welcome the agreements. Bayer’s American depositary receipts climbed on the settlement news, gaining as much as as 5%. The ADRs, which represent one-quarter of a regular share, were up 15 cents to $20.54 at 5:19 p.m. in New York.The company made offers to all the holdouts and is “confident that we can bring this to a final closure in due course,” Dodero said.Too LowBut Bayer’s settlement offers were insultingly low, according to James Onder, a St. Louis lawyer who held his 24,000 cases out of the settlement.“The unsettled legal exposure for Bayer could easily exceed tens of billions of dollars as our firms and others have rejected the minuscule offers accepted by some other lawyers,” Onder said in an email. “To act as if one quarter of the Roundup cancer victims don’t exist is nothing more than a flagrant attempt by Bayer to manipulate its stock price and serves as a slap in the face” to those victims, he said.After Bayer officials refused to make “serious” settlement offers, Trammell said he filed the 13 state court cases on behalf of families who say their children developed non-Hodgkin’s lymphoma from Roundup exposure. Eleven suits were filed in St. Louis last week and the others were file in San Francisco, he said.The children range in age from five to 17, according to court filings. Most are still battling their cancers, but 13-year-old Jacob Savage of Forks, Washington, died in 2017. Bayer has been hit with at least 20 other suits involving children and Roundup, court dockets show.“I’m happy they didn’t settle with me and that I can go out and get more good cases,” said Mark Robinson, a California attorney. “These guys need a couple of more verdicts against them to start valuing the cases properly.”The company lost three damage verdicts totaling more than $191 million. While those cases are on appeal, they spurred a surge in new filings over the past year that led to a plunge in Bayer shares.Precautions taken by courts during the Covid-19 pandemic -- including suspensions of jury selection -- may make it difficult for any of the plaintiff laywers to get cases set for trial until at least next year, said Ken Feinberg, who is serving as the chief settlement mediator in the Roundup cases.“I predict all the remaining cases will settle within a few months,” Feinberg said. “People are going to want their share of this settlement.”Glenn Norton, a retired Missouri appellate judge who served as a mediator for cases in St. Louis and worked with Feinberg on national settlements, said lawyers whose cases weren’t part of Wednesday’s agreement are still “determined to get them settled, too.”Norton said “Bayer paid a little more than people thought they would” to resolve most of the Roundup cases, which shows company officials were keen to get as much of the litigation behind them as possible.The consolidated case is In re: Roundup Products Liability Litigation, MDL 2741, U.S. District Court, Northern District of California (San Francisco).(Updates comment from mediator Norton. An earlier version of this story corrected a comment by the chief mediator, Feinberg.)For 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.
From deploying experts amid global travel restrictions to managing extreme storage conditions, and even inventing new kinds of vials and syringes for billions of doses, the path is strewn with formidable hurdles, according to Reuters interviews with more than a dozen vaccine developers and their backers. Any hitch in an untested supply chain - which could stretch from Pune in India to England's Oxford and Baltimore in the United States - could torpedo or delay the complex process. Col. Nelson Michael, director of the U.S. Army's Center for Infectious Disease Research who is working on the government's "Warp Speed" project to deliver a vaccine at scale by January, said companies usually have years to figure this stuff out.
The Missouri Court of Appeals lowered the original $4.69 billion verdict from July 2018 after dismissing claims by some of the 22 women and their families who had sued. "Plaintiffs proved with convincing clarity that defendants engaged in outrageous conduct because of an evil motive or reckless indifference," the court said.
Johnson & Johnson has decided to stop selling skin-whitening creams popular in Asia and the Middle East, it said on Friday, after such products have come under renewed social pressure in recent weeks amid a global debate about racial inequality. Johnson & Johnson will stop selling its Clean & Clear Fairness line of products, sold in India, a spokeswoman told Reuters. It was reported earlier this month that it would drop its Neutrogena Fine Fairness line, available in Asia and the Middle East.
A resurgence of coronavirus cases in key U.S. regions is nudging nationwide numbers higher, casting doubt on state efforts to relax lockdowns.
The European Commission is in advanced talks with pharmaceuticals giant Johnson & Johnson to reserve or make an up-front purchase of its COVID-19 vaccine under development, two officials familiar with the talks told Reuters. The move would be the first arranged by the European Union executive since it was mandated by the 27 EU national governments to use an emergency fund of more than 2 billion euros ($2.3 billion) to strike deals with up to six vaccine producers. The Commission's deal with U.S. company Johnson & Johnson is "in the pipeline", a top health official from an EU member state said, asking to remain anonymous because because the talks were confidential discussions about vaccines between the EU executive and EU governments.
The pandemic is heaping pressure on the drug industry to meet lofty expectations surrounding effective treatments.
Given that widespread uncertainty in the stock market is likely to endure for the rest of 2020 and beyond, it pays to know that you're investing in high-qualit...
In this environment, it helps to own stocks that will deliver solid results and payouts no matter what happens with the coronavirus or the stock market. In addition to being the biggest retailer in the U.S. and the world, Walmart is also the biggest grocer in the country as a majority of its sales come from food and beverage categories. With its reputation for low prices, locations spread across the U.S., and convenient online grocery pickup and delivery, Walmart became a lifeline for many Americans during the crisis.