Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

JOHNSON & JOHNSON

(JNJ)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Pro Bankruptcy Briefing : J&J Unit Files Bankruptcy Over Talc Claims; Purdue Appeals to Be Heard

10/15/2021 | 08:55am EST

Good day. Companies are using bankruptcy as a tool to resolve lawsuits over an ever-broader range of alleged misconduct, from opioid addiction to sexual abuse and wildfire damage. J&J is now joining in, turning to chapter 11 to try to settle its liabilities for tens of thousands of personal-injury claims linked to talc-based baby powder.

Meanwhile, opponents of Purdue Pharma's bankruptcy plan got a guarantee that their arguments on appeal will be heard.

Top News

J&J places talc liabilities in chapter 11. Johnson & Johnson is testing the limits of bankruptcy law to address mass torts, placing its liabilities for allegedly dangerous talc products in chapter 11. The move is sure to touch off a confrontation with plaintiffs' lawyers, who say that bankruptcy wasn't meant to help solvent companies avoid accountability. At stake are tens of thousands of injury claims linking J&J's baby powder to ovarian cancer, mesothelioma and other ailments.

Judge eases officials' concerns on Purdue Pharma appeals. A federal judge said that Purdue Pharma LP's preparations to leave bankruptcy won't thwart government authorities' appeals seeking to overturn a $4.5 billion settlement with members of the Sackler family who own the company.

Bankruptcy

Drugmaker Teligent files bankruptcy after failed inspection. Generic drugmaker Teligent Inc. filed for bankruptcy protection after the Food and Drug Administration flagged problems at the company's manufacturing plant in Buena, N.J., that led to a recall and production halt.

Gulf Coast Health Care files for chapter 11. Gulf Coast Health Care Inc., which operates skilled-nursing facilities in Florida, Georgia and Mississippi, has filed for bankruptcy, with debts that include $49 million in rent owed to Omega Healthcare Investors Inc.

Consumers

Close to 40% of U.S. households say they face financial difficulties. U.S. households are struggling in many ways over a year into the coronavirus pandemic, according to new polling. The results show how the pandemic deepened an already divided economy, with well-off people and businesses coming out the same or stronger while many lower-wage workers were thrust into financial crisis.

"Short-term help is not enough to solve deeply entrenched inequities."

-- Richard Besser, president and CEO of the Robert Wood Johnson Foundation

Distress

Banks reap profits from loan-loss reserves. Banks last year set aside billions of dollars to prepare for a wave of pandemic loan defaults. Now they are releasing those funds, which flow straight to the bottom line. Wells Fargo and Bank of America posted banner third-quarter results, each company boosted by the release of loan-loss reserves.

In Other News

The Justice Department's bankruptcy watchdog is opposing drugmaker Mallinckrodt Plc's reorganization plan to settle thousands of lawsuits over its opioid painkillers, arguing that it would improperly waive potential legal claims against affiliated third parties. (Bloomberg)

The Chapter 7 trustee overseeing the dissolution of Kossoff PLLC is stepping up his fight to gain access to records of the defunct New York real estate law firm, seeking sanctions against an insurance company and pressing one of the largest banks in the world to cooperate. (Reuters)

(END) Dow Jones Newswires

10-15-21 0854ET

All news about JOHNSON & JOHNSON
05:12pJOHNSON & JOHNSON : to Participate in the 40th Annual J.P. Morgan Healthcare Conference
PU
08:46aMarketScreener's World Press Review - December 8, 2021
07:12aJOHNSON & JOHNSON : 4 Things to Know About RSV in the Time of COVID-19
PU
06:06aRwanda Receives 150,000 Johnson & Johnson Doses From Africa CDC
AQ
12/07Legend Biotech Submits New Drug Application for Myeloma CAR-T Therapy to Japanese Regul..
MT
12/07Johnson & Johnson Unit's Respiratory Syncytial Virus Vaccine Candidate Shows Up to 80% ..
MT
12/07J&J'S JANSSEN : Phase 2b RSV Vaccine Study Meets All Endpoints
DJ
12/07Johnson & Johnson COVID-19 Booster, Administered Six Months After Two-Dose Regimen of t..
AQ
12/07CORONAVIRUS-MOZAMBIQUE : The United States Donates Additional 2 Million Johnson & Johnson ..
AQ
12/06CORONAVIRUS-MOZAMBIQUE : The United States Donates Additional 2 Million Johnson & Johnson ..
AQ
More news
Analyst Recommendations on JOHNSON & JOHNSON
More recommendations
Financials (USD)
Sales 2021 94 251 M - -
Net income 2021 22 542 M - -
Net Debt 2021 493 M - -
P/E ratio 2021 19,8x
Yield 2021 2,54%
Capitalization 433 B 433 B -
EV / Sales 2021 4,60x
EV / Sales 2022 4,28x
Nbr of Employees 134 500
Free-Float 84,3%
Chart JOHNSON & JOHNSON
Duration : Period :
Johnson & Johnson Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends JOHNSON & JOHNSON
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 164,34 $
Average target price 184,65 $
Spread / Average Target 12,4%
EPS Revisions
Managers and Directors
Alex Gorsky Chairman & Chief Executive Officer
Joseph J. Wolk Chief Financial Officer & Executive Vice President
Paulus Stoffels Chief Scientific Officer
James D. Swanson Global Chief Information Officer & Executive VP
Charles O. Prince Independent Director
Sector and Competitors
1st jan.Capi. (M$)
JOHNSON & JOHNSON4.42%430 061
ROCHE HOLDING AG19.17%324 115
PFIZER, INC.39.85%290 297
NOVO NORDISK A/S70.26%250 392
ELI LILLY AND COMPANY45.17%222 215
ABBVIE INC.13.40%214 815