J&J Financial News

(Reuters) — IBM (NYSE:IBM) said on Wednesday it is notifying customers of Janssen CarePath, a Johnson & Johnson (NYSE:JNJ) unit, of a «data incident» involving unauthorized access of personal information.

Johnson & Johnson plans to tap billions in proceeds from the recent split-off of its consumer-health business to fuel growth in pharmaceuticals and medical technology through capital allocation, which could include new acquisitions and investments in product offerings and robotics. The New Brunswick, N.J.-based healthcare giant in May sold shares in Kenvue, which owns brands such as Band-Aid and Tylenol, through an initial public offering that netted J&J $13.2 billion in cash. In August J&J shed about 80% of its Kenvue shares through a roughly $40 billion split-off, whereby some investors chose to trade in their shares of J&J for Kenvue ones.

By Patrick Wingrove

(Reuters) — Johnson & Johnson (NYSE:JNJ) and Indian drugmaker Lupin will supply their versions of the tuberculosis drug bedaquiline at a significantly cheaper price in low- and middle-income countries, a global anti-tuberculosis group said on Wednesday.

AMSTERDAM (Reuters) — Johnson & Johnson (NYSE:JNJ)'s Dutch business Janssen, which helped to develop the single-dose COVID-19 vaccine, will close almost its entire vaccine division, the company said on Wednesday, confirming Dutch media reports.

U.S. Food and Drug Administration had approved its antibody-based therapy for patients with a difficult-to-treat type of blood cancer.

Also read: Johnson & Johnson proposes nearly $9 billion settlement of talc cancer claims This time, lawyers for victims argued that J&J reduced the maximum amount of money it devoted to settling the cancer claims. Potential pay-outs in the first bankruptcy would have been backed by a J&J unit was worth about $61.5 billion at the time.

U.S. Bankruptcy Judge Michael Kaplan in Trenton, New Jersey, ruled that a J&J company's second bankruptcy, like its first, must be dismissed because the talc lawsuits did not put it in immediate «financial distress.» «In sum, this Court smells smoke, but does not see the fire,» Kaplan wrote, referring to the J&J unit LTL. «Therefore, the emphasis on certainty and immediacy of financial distress closes the door of chapter 11 to LTL at this juncture.» J&J said on Friday that it would appeal Kaplan's decision, and said it would vigorously defend itself against lawsuits that are «specious and lack scientific merit.» J&J's first bankruptcy gambit began in 2021, when it offloaded its talc liabilities into a new company, LTL Management, and immediately placed that company into bankruptcy.

By Dietrich Knauth

(Reuters) -Johnson & Johnson said on Monday it had launched an exchange offer under which its stockholders can opt for shares of Kenvue (N:KVUE), its newly listed consumer health unit.

By Bhanvi Satija and Patrick Wingrove

Investing.com — Johnson & Johnson (NYSE:JNJ) has reported second-quarter adjusted earnings per share of $2.80 on sales of $25.53 billion, both of which beat Bloomberg consensus estimates.

Johnson & Johnson's must pay $18.8 million to ... moreJohnson & Johnson's must pay $18.8 million to a California man who said he developed cancer from exposure to its baby powder, a jury decided on Tuesday, a setback for the company as it seeks to settle thousands of similar cases over its talc-based products in US bankruptcy court.

Also read: Johnson & Johnson proposes nearly $9 billion settlement of talc cancer claims The $18.8 million award to Valadez could complicate J&J's efforts to convince other talc victims to accept an $8.9 billion settlement offered as part of the bankruptcy case filed by its LTL Management unit. This settlement was intended to cover all existing and future lawsuits alleging that J&J knowingly sold talc-based baby powder containing asbestos.

Medecins Sans Frontieres (MSF) has once again urged Johnson & Johnson (J&J) to not enforce any 'secondary' patents for its tuberculosis drug bedaquiline in any country with a high burden of TB, and withdraw all pending secondary patent applications for it. The US pharmaceutical giant's 20-year primary patent on drug-resistant TB medicine bedaquiline expires in a majority of countries this month, including India. Paris-founded MSF has also called for a commitment from J&J to not take any legal action against any generic drug manufacturer that exports versions of bedaquiline to or from TB high-burden countries where secondary patents on the drug exist.

(Reuters) — Johnson & Johnson (NYSE:JNJ) sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block enforcement of a program that gives Medicare the power to negotiate drug prices.

In a significant move, Swiss-based Global Drug Facility, a nonprofit organisation, has partnered with pharmaceutical giant Johnson & Johnson to supply generic versions of the anti-tuberculosis drug bedaquiline to low and middle-income countries. But the deal has been criticised as it does not ends the company’s monopoly over the drug’s global supplies.  The agreement, signed with Global Drug Facility, an arm of Stop TB Partnership, allows the non-profit organisation to tender, procure, and supply generic versions of bedaquiline to 44 low- and middle-income countries.

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