Johnson & Johnson (JNJ) is showing signs of a topping pattern with negative divergences in momentum indicators, suggesting potential price weakness ahead. The stock is expensive based on forward P/E and free cash flow yield, with poor growth prospects and negative earnings revisions. Despite favorable seasonality, JNJ may underperform in a risk-on market environment as defensive sectors lag.
CNBC's Becky Quick reports on the latest news.
Johnson & Johnson is capturing strong demand across its pharmaceutical and medtech portfolio. New product launches and an extensive pipeline of candidate drugs support a positive growth outlook.
A Johnson & Johnson subsidiary filed for bankruptcy for a third time on Friday as the healthcare giant seeks to advance an approximately $8 billion proposed settlement that would end tens of thousands of lawsuits alleging that the company's baby powder and other talc products caused cancer.
With this approval, JNJ's Rybrevant is now approved for a total of four indications in the United States.
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Johnson & Johnson (JNJ) closed the most recent trading day at $166.99, moving +0.89% from the previous trading session.
An Oregon judge has overturned a $260 million verdict against Johnson & Johnson in a lawsuit brought by a woman who said she got mesothelioma, a deadly cancer linked to asbestos exposure, from inhaling the company's talc powder, the company said on Monday.
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With this latest approval, JNJ's Tremfya is approved for a total of three immunology indications.
On Tuesday, Johnson & Johnson JNJ announced results from the open-label Phase 2 SKIPPirr study, which evaluated additional prophylactic strategies to reduce the incidence of infusion-related reactions (IRRs) with intravenous (IV) Rybrevant (amivantamab-vmjw) in patients with advanced non-small cell lung cancer (NSCLC) with epidermal growth factor receptor (EGFR) exon 19 deletions (ex19del) or L858R substitution mutations.
The U.S. Food and Drug Administration has allowed the expanded use of Johnson & Johnson's drug, Tremfya, to treat adults with a type of chronic inflammatory bowel disease, the company said on Wednesday.