GlaxoSmithKline and Johnson & Johnson, which control most of the needed supplies for the industry, want authorities to approve genetic engineering so opium farming can be both expanded and made less susceptible to pests and so they can assure their customers they can keep up with demand.
Johnson & Johnson has managed a turnaround in its McNeil Consumer Health division by producing products like Tylenol and Motrin at facilities other than its still-closed Fort Washington, PA, plant and getting them back on retailer's shelves.
For years Johnson & Johnson's consumer unit was an embarrassment to CEO Alex Gorsky. Instead of being able to point to its contribution to quarterly results, he instead found himself explaining recalls of key products like Tylenol and the unit's drag on earnings. But a turnaround is at hand, with the unit turning in 2.4% growth in sales in Q2, driven by a 9% increase in over-the-counter drugs.
After J&J unveiled street-beating Q2 results yesterday, fueled in part by Olysio's $831 million in sales for the quarter, its stock price actually dropped. Investors figure Olysio's money-minting capabilities won't last, not with competitors racing toward launch themselves.
Second quarter sales for Johnson & Johnson's ($JNJ) medical devices and diagnostics division mirrored those reported in the first quarter, coming in relatively flat at $7.2 billion as sales in its vision and diabetes lines continued to decline due to price competition.
Johnson & Johnson is always the first Big Pharma to roll out quarterly results. So, investors and analysts watch J&J's numbers for hints about the rest of the industry. But these days, J&J is more of an anomaly than a leading indicator. Why? Its drug sales are growing--big time.
Private equity firms are sitting on a record amount of unspent cash--$1.2 trillion by some estimates. At the same time, Big Pharma companies are looking to cast off off-patent drugs and other old products. Could that make a match?
Boston Scientific's Guidant subsidiary faces more legal pushback in its ongoing breach-of-contract lawsuit against Johnson & Johnson, as a federal judge denied the company's request to toss out the case.
Jan van de Winkel The Danish biotech Genmab has won a $25 million milestone from its $1.1 billion collaboration deal with Johnson & Johnson ($JNJ) on the CD38 antibody daratumumab. The...
The potential nomination of Johnson & Johnson chief intellectual property counsel Philip Johnson as director of the U.S. Patent and Trademark Office suggests efforts to reform the patent system are dying, especially changes to rein in so called patent trolls.