Johnson & Johnson

Ticker JNJ

Today's data summary

Market closed
% change
+0.92%
Price US dollars
129.20
Change
+1.18
As of 06:21 23 Oct 2019
Market cap. US dollars
343,972.25 million
As of 06:21 23 Oct 2019

Latest updates

J&J profits rise

drugs
Bloomberg

US drug firm Johnson & Johnson has reported results.

Its third quarter revenue of $20.73bn was slightly more than had been forecast by analysts.

Net profit rose 1.5% to $5.6bn. That amounted to $2.12 per share, 7 cents higher than the same quarter last year when the company reported EPS of $2.05.

Earlier this month the company was told to pay $8bn (£6.6bn) in punitive damages to a man over claims he was not warned that an anti-psychotic drug could lead to breast growth. J&J has said it appeal against the ruling, which it said was "grossly disproportionate".

More on Johnson & Johnson

Johnson & Johnson
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Johnson & Johnson saw quarterly sales rise $20.02bn, a very slight increase from $20.01bn in the same period in the previous year.

However, analysts had expected sales to decline to $19.6bn.

J&J saw rising demand for several drugs, including drugs for treating bladder cancer, Crohn's disease and psoriasis.

The firm's consumer goods arm was hit by legal costs related to thousands of lawsuits over talcum baby powder and the blood thinner Xarelto. J&J'a total legal costs came to $1.29bn for the quarter, but talcum power lawsuits made up only 10% of the costs.

Johnson & Johnson in US probe

Johnson & Johnson Baby Powder
Getty Images

More on Johnson & Johnson's talc baby powder woes.

The inquiries by the Department of Justice and Securities and Exchange Commission follow news reports in December that said the firm had known about the risks for decades.

The firm said the stories had included "inaccurate statements and also withheld crucial information that had already been made public in the litigation and in prior media reports".

"We intend to co-operate fully with these inquiries and will continue to defend the company in the talc-related litigation," Johnson & Johnson said.

Bangladesh to probe baby powder for asbestos

Johnson & Johnson's Baby Powder
Getty Images

Bangladesh is to collect and test samples of Johnson & Johnson's Baby Powder for asbestos in a couple of days, its main testing authority said on Friday.

Earlier this month shares in the firm dropped dramatically after a Reuters report that the US pharmaceutical giant had known about asbestos tainting its talcum powder for decades.

The firm described the Reuters article as "one-sided, false and inflammatory".

The testing in Bangladesh comes as the company faces thousands of lawsuits claiming that its talc products caused cancer.

Johnson & Johnson said on Thursday that its talc is routinely tested by both suppliers and independent labs to ensure that it is free of asbestos.

"All talc in India is sourced and exclusively sold in India and surrounding markets - including Sri Lanka, Bangladesh, Nepal, Bhutan, Maldives - and fully meets the regulatory standards of the Government of India", it said.