Unscrupulous attorneys may exploit Johnson & Johnson's ($JNJ) offer to pay $2.5 billion-plus to settle thousands of lawsuits alleging it sold faulty metal hip implants, a New Jersey judge warned.
Johnson & Johnson's bid to unload its Ortho Clinical Diagnostics arm has moved to the next phase, with executives whittling its list of potential buyers down to three interested parties. Expect the winning bidder to emerge before the end of 2013.
Johnson & Johnson has confirmed an agreement to fork over at least $2.5 billion to settle thousands of lawsuits alleging injuries caused by defective all-metal hip implants. A large majority of eligible plaintiffs reportedly must support the agreement for it to go forward, and legions of legal cases not included in the deal will remain in play.
A Philadelphia jury didn't buy Johnson & Johnson's argument that it had properly warned doctors and patients about the birth-defect risks associated with its seizure drug Topamax. The panel ordered J&J's Janssen unit to pay $11 million to Haley Powell, whose son was born with a cleft palate.
Johnson & Johnson's Janssen unit and Merck KGaA are joining the parade of companies rolling out new manufacturing facilities in China, a market that could become the world's largest in a decade.
The investigation by Chinese authorities into of a host of drugmakers for bribery has put a chill on business there, but not frozen them in their tracks. Plans announced in the last two days by Johnson & Johnson and Merck KGaA to build new plants in China shows the market is too vast and too important to allow a little uncertainty to put plans on ice.
Johnson & Johnson will lay off a number of employees as part of a plan to revamp its diabetes arm, driven by ongoing challenges facing the broader industry sector.
Another cancer drug approval, another nosebleed-level price. Johnson & Johnson and Pharmacyclics' breakthrough drug Imbruvica (ibrutinib) won FDA approval yesterday for a rare form of lymphoma. Soon after, the companies said Imbruvica would be priced at more than $90 per pill. At four pills per day, that's about $130,000 per year.
The FDA has come through with an early approval of the BTK drug ibrutinib, a likely new cancer blockbuster from Pharmacyclics (and Johnson & Johnson.
Johnson & Johnson has reportedly wrapped up thousands of lawsuits over faulty hip-replacement products with a hefty $4 billion settlement.