The jury at the St. Louis court announced its verdict against J&J last month, giving a major blow to the company as it now has to pay about $4.7 billion to 22 women or their loved-ones for the claim that it’s talc caused ovarian cancer.
Wall Street is unclear whether the U.S. insurance industry will have to pay any costs from the $4.69 billion verdict against Johnson & Johnson granted to customers and their families who alleged that asbestos-adulterated talc leads to ovarian cancer.
Johnson & Johnson has once again won in its appeals campaign against talcum powder verdicts. Last year, the company had secured two reversals. In this year, the Missouri Court of Appeals reversed another verdict in Gloria Ristesund’s case worth $55 million, where the court lacked jurisdiction.
Johnson & Johnson Innovation in collaboration with New York State and the New York Genome Center launched JLABS in New York Genome Center, New York City. The size of the new facility is 30,000 Sq. ft. The new facility will enable 30 biotech, medical device, pharmaceutical, consumer and health tech companies with 26 resident companies, including the four winners of the JLABS at QuickFire Challenge.
It has been stated by the women and their families taking legal actions mentioned that the cancer was caused by decade-long use of J&J’s Baby Powder and other cosmetic. The petitioners have alleged that the company failed to warn consumers about cancer risks in spite of the knowledge that its talc was contaminated with asbestos at least since the 1970s.
EHR vendor Allscripts has made an agreement to purchase patient communication app maker Health Grid for $60 million in cash, with an additional $50 million in earnout payments based on Health Grid achieving certain revenue targets over the next three years, according to a recently registered SEC filing. The merger of the two companies is expected to close sometime during Q2 2018.
Erdafitinib, an oral pan-fibroblast growth factor receptor (FGFR) tyrosine kinase inhibitor, shows promise as the first targeted agent for patients with metastatic urothelial cancer, one of the most common cancers
Janssen leads in cardiovascular innovation using real-world data to detect asymptomatic atrial fibrillation Home-based clinical study underscores the game-changing role of digital technology in future of health care
Johnson & Johnson today announced sales of $20.2 billion for the fourth quarter of 2017, an increase of 11.5% as compared to the fourth quarter of 2016. Operational sales results increased 9.4% and the positive impact of currency was 2.1%. Domestic sales increased 9.8%. International sales increased 13.5%, reflecting operational growth of 9.0% and a positive currency impact of 4.5%.
The Janssen Pharmaceutical Companies of Johnson & Johnson announced today their entry into a worldwide collaboration with an affiliate of Theravance Biopharma, Inc. to develop TD-1473, a first-in-class oral, gastrointestinal (GI) restricted pan-Janus kinase (JAK) inhibitor for the treatment of inflammatory bowel disease (IBD), which includes Crohn's disease and ulcerative colitis (UC).
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