Johnson & Johnson given go-ahead for bankruptcy strategy on talc lawsuits

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  • A bankruptcy court judge has upheld Johnson & Johnson 's request to use a bankruptcy strategy to handle 38K lawsuits related to its talc products pending against the company, The Wall Street Journal reports.
  • The ruling by Judge Michael Kaplan of the U.S. Bankruptcy Court in Trenton, N.J., will allow a J&J subsidiary, LTL Management, to proceed with its chapter 11 filing.
  • Kaplan wrote that J&J's bankruptcy plan was not done in bad faith, but rather to resolve mass litigation.
  • Plaintiffs' attorneys had argued that the bankruptcy plan was part of a "Texas Two-Step" legal maneuver to minimize potential payouts related to allegations that J&J's (JNJ +4.5 %) talc products caused cancer.
  • In closing arguments earlier this week, J&J attorneys argued that plaintiffs' attorneys wanted the bankruptcy plan rejected so that they could seek potentially larger payouts in jury trials.

    Over the current book year the total revenue will be 96.33 billion USD (consensus estimates). This is slightly more than 2021's revenue of 93.78 billion USD.

    Historical revenues and results Johnson & Johnson plus estimates 2021

    beurskoers

    The analysts expect for 2021 a net profit of 27.24 billion USD. The majority of the analysts expects for this year a profit per share of 10.26 USD. The price-earnings-ratio equals 17.41.

    Analysts expect a dividend of 4.45 USD per share. Johnson & Johnson 's dividend yield thus equals 2.49 percent. The average dividend yield of the pharmaceutical companies is a limited 1.37 percent.

    Johnson & Johnson 's market capitalization is based on the number of outstanding shares around 470.27 billion USD. 11

    At 16.05 the stock trades 0.24 percent lower at 178.64 USD.

    Historical stock prices Johnson & Johnson period 2007-2021

    historical stocks johnson&johnson

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