Johnson & Johnson Stock Price, News & Analysis

Johnson & Johnson (NYSE: JNJ) will hold a conference call at 8:30 a.m. Eastern Time on October 18, 2022, to discuss its third-quarter results. The call features Joseph J. Wolk, CFO, and Jessica Moore, VP of Investor Relations, along with other executives. Interested parties can join via webcast or telephone, with details available on the company's investor relations website. A replay will be accessible until November 1, 2022. The press release will be published at 6:45 a.m. Eastern Time on the same day.

Johnson & Johnson (NYSE: JNJ) appointed Larry Merlo as Non-executive Chair Designate for the upcoming New Consumer Health Company. Merlo, with over 30 years in health leadership, previously served as President and CEO of CVS Health. The planned separation is set for 2023, creating two focused entities: Johnson & Johnson and the New Consumer Health Company. Each entity aims to enhance health outcomes and accelerate growth. Merlo's role is expected to provide valuable leadership as the company prepares for its standalone operations.

Johnson & Johnson (NYSE: JNJ) has halted global sales of its talc-based products, including Johnson's Baby Powder, amid increasing legal pressures from ovarian cancer and mesothelioma claims. This decision follows decades of scientific studies linking talc to serious health risks, including carcinogenic effects, and regulatory scrutiny after findings of asbestos in talc products. Over 38,000 legal cases against JNJ are currently stalled due to its controversial bankruptcy maneuver, designed to limit liability and market impact. The legitimacy of this bankruptcy tactic will be reviewed by the U.S. Court of Appeals on Sept. 19.

Johnson & Johnson (NYSE: JNJ) will participate in the Morgan Stanley 20^th Annual Global Healthcare Conference on Wednesday, September 14, at the Sheraton New York Hotel. CEO Joaquin Duato and CFO Joseph J. Wolk will represent the company at 11:10 a.m. (Eastern Time). Investors can access the live audio webcast through the Johnson & Johnson website at www.investor.jnj.com. A replay of the webcast will be available approximately 48 hours after the event.

Johnson & Johnson (NYSE: JNJ) announces the departure of Mathai Mammen, M.D., Ph.D., Executive Vice President of Pharmaceuticals R&D, who will pursue other opportunities. William Hait, M.D., Ph.D., becomes the interim head of Pharmaceutical R&D until a replacement is appointed. Mammen joined in 2017 and contributed to the advancement of the company's portfolio. JNJ remains committed to innovation and improving healthcare.

Pyramid Biosciences has appointed Dr. Nushmia Khokhar as the new Chief Medical Officer to lead the company's clinical pipeline advancements. Dr. Khokhar, previously with Umoja Biopharma and Autolus Therapeutics, brings extensive experience in oncology clinical development. The CEO, Brian Lestini, expressed confidence in her leadership during this growth phase. Dr. Khokhar's background includes significant roles at Johnson & Johnson, where she directed successful clinical trials for cancer therapies. Pyramid Biosciences focuses on creating precision therapies for serious diseases.

Johnson & Johnson (NYSE: JNJ) will participate in the 2022 Wells Fargo Securities Healthcare Conference at the Encore Boston Harbor in Everett, MA, on September 7. Ashley McEvoy, Executive Vice President and Worldwide Chairman of MedTech, will represent the company in a session set for 11:00 a.m. (Eastern Time). Investors can access the conference call via the Johnson & Johnson website. A webcast and podcast replay will be available roughly 48 hours post-event.

Johnson & Johnson (NYSE: JNJ) reported a 3.0% increase in total sales to $24.0 billion for Q2 2022, with operational growth of 8.0%. Adjusted earnings per share (EPS) rose 4.4% to $2.59, despite a 23.4% drop in diluted EPS to $1.80. The company maintains its 2022 guidance, reflecting resilience amid economic challenges. Regional growth was driven by Pharmaceutical sales, which surged 12.4%, while Consumer Health and MedTech faced declines. Currency fluctuations impacted reported results.

Johnson & Johnson (NYSE: JNJ) announced the retirement of Michael Ullmann as Executive Vice President and General Counsel after 33 years of service. Ullmann will be succeeded by Elizabeth Forminard, effective October 17, 2022. Forminard brings extensive experience from her previous roles in the Pharmaceutical, MedTech, and Consumer Health sectors, and will also join the Executive Committee. Ullmann's tenure is noted for his focus on diversity, equity, and inclusion, guiding the company through complex legal matters. The transition reflects the company's commitment to strong leadership.