Johnson & Johnson Stock Price, News & Analysis

Johnson & Johnson has announced the re-filing of its subsidiary LTL Management LLC for voluntary Chapter 11 bankruptcy protection. This move aims to secure approval for a revised reorganization plan to resolve all claims related to cosmetic talc litigation with a present value commitment of $8.9 billion over 25 years. This is a significant increase from the $2 billion previously committed. Over 60,000 claimants have expressed support for this resolution. Importantly, this re-filing does not indicate any admission of wrongdoing regarding the safety of the Company’s talc products.

Virtual Incision Corporation has appointed Piet Hinoul as the new Chief Medical Officer, while Dmitry Oleynikov transitions to Chief Surgeon. Hinoul, with over 30 years in healthcare, previously headed medical affairs at Novocure (NASDAQ: NVCR) and has experience in surgical robotics at Johnson & Johnson (NYSE: JNJ). This leadership change aims to bolster Virtual Incision's efforts as it develops the MIRA Surgical System, the first miniaturized robotic-assisted surgery system designed for improved surgical efficiency. The company is focused on making every operating room RAS-ready, enhancing accessibility to advanced surgical technology.

The Third Circuit Court has denied a rehearing request regarding Johnson & Johnson's (NYSE:JNJ) bankruptcy petition related to talcum powder litigation, determining it was not filed in good faith. This decision enables over 38,000 lawsuits alleging links between J&J's talc products and cancer to resume. The court found that J&J's use of the Texas Two-Step bankruptcy strategy to limit claims was not justified and indicated that LTL, its subsidiary, was not in financial distress. The firm plans to cease production of talc-based products globally amid ongoing litigation and regulatory scrutiny over the potential carcinogenic effects of talc.

Johnson & Johnson (NYSE: JNJ) will host a conference call on April 18, 2023, at 8:30 a.m. (Eastern Time) to discuss its first-quarter results. Key executives, including Joseph J. Wolk and Jessica Moore, will lead the call, which will also include a Q&A session. Investors can join via webcast at www.investor.jnj.com or by dialing specific numbers for U.S. and international participants. A replay will be available until May 3, 2023. The press release with detailed financial results will be published at approximately 6:45 a.m. (Eastern Time) on the same day.

The Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ) published new data in Nature demonstrating that JNJ-1802, an antiviral candidate, is effective against dengue in non-human primates and mice. Following successful Phase 1 trials showing safety and tolerability in humans, JNJ-1802 is progressing to Phase 2 studies. The data revealed efficacy against all four dengue serotypes, particularly DENV-1 and DENV-2. Given the rising global dengue threat due to climate change, the findings emphasize the urgent need for antiviral solutions to combat this disease.

Johnson & Johnson (NYSE: JNJ) announced that its subsidiary Kenvue Inc. has priced an offering of senior unsecured notes totaling $7.75 billion. The notes have varying maturities and coupon rates, with the first series due 2025 at 5.500%. The proceeds will partially fund Kenvue's acquisition of Johnson & Johnson's Consumer Health Business. The offering is not contingent upon the separation's completion, expected around March 22, 2023. The notes will be guaranteed by Johnson & Johnson until the separation and registration of Kenvue's equity securities occur. The securities have not been registered under U.S. laws.

AtlantiCare has become the first healthcare system in the northeastern U.S. to implement the Optellum Virtual Nodule Clinic, enhancing early lung cancer diagnosis through AI technology. Located in New Jersey, this initiative is part of AtlantiCare's lung cancer program at the AtlantiCare Regional Medical Center. The platform aids in identifying and tracking at-risk patients, with the ability to biopsy concerning lesions early, potentially improving outcomes. With approximately 50 out of 300 patients flagged for surveillance, this partnership demonstrates the critical need for early-stage detection in lung cancer.

Johnson & Johnson (NYSE: JNJ) has appointed Dr. Paula A. Johnson, President of Wellesley College, to its Board of Directors. CEO Joaquin Duato welcomed her, citing her extensive knowledge in medical research and public health, which is expected to enhance the board’s expertise. Dr. Johnson expressed her commitment to improving health outcomes globally. With significant experience in academic medicine and leadership roles, including founding the Connors Center for Women’s Health, she is set to bring a valuable perspective as JNJ continues its mission of advancing healthcare.

Johnson & Johnson (NYSE: JNJ) will participate in the Barclays Global HealthCare Conference on Tuesday, March 14, at the Loews Miami Beach Hotel in Miami Beach, Florida. Company Group Chairmen Aldo Denti from DePuy Synthes and Peter Menziuso from Vision will represent the company at 10:15 a.m. (Eastern Time). Investors can access the live audio webcast on the Johnson & Johnson website. A replay of the audio webcast will be available approximately 48 hours after the event.