JOHNSON & JOHNSON

(JNJ)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Johnson & Johnson Statement on New Mexico Opioid Settlement Agreement

01/17/2022 | 08:46am EDT

NEW BRUNSWICK, NJ, - Johnson & Johnson (the Company) and its U.S.-based Janssen Pharmaceutical Companies today announced a settlement agreement with the State of New Mexico and its participating subdivisions resolving their opioid-related claims against the Company. With this agreement, the Company is removed from pending litigation by the State and its subdivisions.

The $44 million settlement with New Mexico is consistent with the terms of the previously announced nationwide opioid settlement agreement. The dollar amount to be received by the State is the pro-rated share it would have received under this agreement, which will be deducted from the all-in settlement amount. This settlement is not an admission of any liability or wrongdoing and the Company will continue to defend against any litigation that the final agreement does not resolve.

The Company's actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible. DURAGESIC, NUCYNTA and NUCYNTA ER accounted for less than one percent of total opioid prescriptions in New Mexico and the U.S. since launch. The Company no longer sells prescription opioid medications in the United States as part of our ongoing efforts to focus on transformational innovation and serving unmet patient needs.

For more information, visit www.FactsAboutOurPrescriptionOpioids.com.

Cautions Concerning Forward-Looking Statements

This statement contains 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 regarding the resolution agreement regarding opioid litigation. The reader is cautioned not to rely on these forward-looking statements. The information contained in this statement is for informational purposes only and should not be construed as a commitment by the Company to engage in any specific strategy or course of action. Due to the inherent uncertainty of litigation, the Company cannot predict the timing, ultimate outcome or financial impact of this matter, or any other ongoing or future litigation. The forward-looking statements in this statement are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Janssen Pharmaceutical Companies and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: significant adverse litigation or government action, including related to product liability claims; economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 3, 2021, including in the sections captioned 'Cautionary Note Regarding Forward-Looking Statements' and 'Item 1A. Risk Factors,' in the company's most recently filed Quarterly Report on Form 10-Q and in the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this statement speaks only as of the date of this statement. Neither the Janssen Pharmaceutical Companies nor Johnson & Johnson undertakes to update any forward-looking statement as a result of new information or future events or developments. The Company expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this statement.

(C) 2022 Electronic News Publishing, source ENP Newswire

All news about JOHNSON & JOHNSON
05/26Legend Biotech Receives Conditional European Commission Approval for Multiple Myeloma D..
MT
05/25JOHNSON & JOHNSON : to Provide Webcast Fireside Chat on Clinical Data to be Presented at t..
PU
05/25Tentative $161.5M settlement reached in WVa opioid trial
AQ
05/25Janssen Presents Study Results Showing Clinical Efficacy for TREMFYA (guselkumab) and L..
AQ
05/25Nigeria Receives 4.4 Million Doses of Covid-19 Vaccines
AQ
05/24JOHNSON & JOHNSON : Janssen Presents Study Results Showing Clinical Efficacy for TREMFYA« ..
PU
05/24TRANSCRIPT : Johnson & Johnson Presents at UBS Global Healthcare Conference, May-24-2022 1..
CI
05/23Bayer's Xarelto Shows Long-Term Effect in Heart Disease Patients
MT
05/23JOHNSON & JOHNSON : New Data From Two Large Studies Reinforce Effectiveness of Dual Pathwa..
PU
05/23What We're Reading This Week
AQ
More news
Analyst Recommendations on JOHNSON & JOHNSON
More recommendations
Financials (USD)
Sales 2022 96 451 M - -
Net income 2022 23 016 M - -
Net cash 2022 8 885 M - -
P/E ratio 2022 20,3x
Yield 2022 2,46%
Capitalization 477 B 477 B -
EV / Sales 2022 4,85x
EV / Sales 2023 4,56x
Nbr of Employees 141 700
Free-Float 84,2%
Chart JOHNSON & JOHNSON
Duration : Period :
Johnson & Johnson Technical Analysis Chart | JNJ | US4781601046 | MarketScreener
Technical analysis trends JOHNSON & JOHNSON
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 181,09 $
Average target price 187,75 $
Spread / Average Target 3,68%
EPS Revisions
Managers and Directors
Joaquin Duato Chief Executive Officer & Director
Joseph J. Wolk Chief Financial Officer & Executive Vice President
Matthew Stuckley Senior Financial Analyst-Janssen Commercial Pharm
Alex Gorsky Executive Chairman
Peter Shen Global Head-Research & Development
Sector and Competitors
1st jan.Capi. (M$)
JOHNSON & JOHNSON5.86%476 521
NOVO NORDISK A/S-3.80%1 677 391
PFIZER, INC.-8.70%302 483
ELI LILLY AND COMPANY17.11%291 184
ROCHE HOLDING AG-13.00%281 098
ABBVIE INC.10.78%265 067