Johnson & Johnson (JNJ.N) Key Developments | Reuters.com
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Johnson & Johnson (JNJ.N)

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Latest Key Developments (Source: Significant Developments)

Johnson & Johnson announces completion of Novira Therapeutics, Inc. acquisition
Friday, 4 Dec 2015 04:30pm EST 

Johnson & Johnson:Says completion of the acquisition of Novira Therapeutics, Inc.Financial terms of the transaction have not been disclosed.  Full Article

Johnson & Johnson - Court revives Oregon suit over 'phantom recall' of Motrin - AP
Wednesday, 25 Nov 2015 06:32pm EST 

Johnson & Johnson:A lawsuit over Johnson & Johnson's buyback of defective Motrin pills has been given new life by the Oregon Court of Appeals - AP.Johnson discovered in late 2008 that supplies of the painkiller manufactured in Puerto Rico failed to dissolve properly, an issue that could lessen effectiveness - AP.Instead of notifying customers with a recall, company hired a contractor to send secret shoppers out to buy the bad product from store shelves. Unique approach eventually came to light, prompting a congressional inquiry in 2010 - AP.Former Oregon state Attorney General John Kroger sued the company and 2 subsidiaries in Jan.2011, saying the "phantom recall" exposed consumers to defective supplies of the pain reliever and violated the state's unlawful trade practices act - AP.The Appeals Court said a trial judge dismissed the case incorrectly 3 years ago - AP.Lawyers for Johnson & Johnson argued that the firms did not violate the trade practices act because there was no proof the defective product was ever sold in Oregon - AP.The Appeals Court disagreed. "The actionable conduct was the failure to inform Oregonians of a known material risk that the Motrin they were purchasing might be defective," Chief Judge Rick Haselton wrote in sending the case back to trial court. - AP.1st phase of the buyback program took place in March and April 2009, and it was designed to survey the amount of defective product on shelves. A larger buyback began in June 2009 - AP.  Full Article

Johnson & Johnson announces agreement to acquire Novira Therapeutics Inc
Wednesday, 4 Nov 2015 12:01pm EST 

Johnson & Johnson:Announces agreement to acquire Novira Therapeutics Inc.Financial terms of the transaction have not been disclosed.Transaction is expected to close during the fourth quarter of 2015.Acquisition includes Novira's portfolio of novel antivirals, including its lead candidate, NVR 3-778.  Full Article

Johnson & Johnson announces quarterly dividend for fourth quarter
Thursday, 22 Oct 2015 01:26pm EDT 

Johnson & Johnson:Declared a cash dividend for the fourth quarter of 2015 of $0.75 per share on the company's common stock.Payable on December 8 to shareholders of record date as on November 24.Ex-dividend date is November 20.  Full Article

Johnson & Johnson defeats first lawsuit on Tylenol's link to liver damage - Bloomberg - Reuters
Thursday, 15 Oct 2015 08:00pm EDT 

Johnson & Johnson:Johnson & Johnson defeated a lawsuit claiming it had improperly designed its Tylenol pain reliever, in the first case to go to trial over the link between the widely used over-the-counter drug and liver damage - Bloomberg.Jurors in New Jersey concluded that Regina Jackson, 55, who said she spent a week in the hospital after inadvertently overdosing on the pain medication, failed to prove her case - Bloomberg.The jury ruled she couldn’t prove she had actually taken Extra Strength Tylenol, and didn’t rule on the merits of her claim the pain medication was defectively designed - Bloomberg.The verdict gives hopes to plaintiffs pursuing about 220 lawsuits against J&J and its McNeil Consumer Healthcare unit in state and federal court in New Jersey and Pennsylvania - Bloomberg.“The important health issue that the Food & Drug Administration and the medical community has put on the table about Tylenol was not answered by this jury verdict,” said Clay Milling, a lawyer for Jackson - Bloomberg.He said he intends to make the argument again in other suits pending against J&J - Bloomberg.The first federal trial is slated for early next year in Philadelphia, where about 200 of the cases have been consolidated. Not all of the cases involve overdoses, as some plaintiffs claim they got liver damage from taking the recommended dose - Bloomberg.  Full Article

Johnson & Johnson - Surgical funder ordered to turn over information on hip surgeries - Reuters
Tuesday, 13 Oct 2015 08:00pm EDT 

Johnson & Johnson:A federal judge has ordered a surgical funding company to turn over information about payments it made to healthcare providers for surgeries performed on plaintiffs suing over artificial hips made by a unit of Johnson & Johnson - RTRS.DePuy Orthopaedics in August sought to compel Texas-based MedStar Funding to hand over the information, saying it was concerned that Medstar was trying to squeeze excessive profits from liens it had placed against personal-injury settlements for 11 hip plaintiffs - RTRS.On Tuesday, U.S. District Judge David Katz in Toledo, Ohio, granted the motion and directed Medstar to comply by Nov. 13 - RTRS.“DePuy’s request for billing and payment information is necessary to properly assess the validity of the liens,” Katz wrote - RTRS.Surgical funders like MedStar essentially invest in operations on injured plaintiffs - RTRS.If a litigant cannot afford surgery to correct problems blamed on a medical device, the funder will step in to purchase their medical bills at a deep discount from physicians, hospitals and other healthcare providers - RTRS.According to DePuy, MedStar submitted claims for nearly $1.5 million for medical care that should have cost no more than $336,000 - RTRS.DePuy said MedStar is trying to collect four times what DePuy considers to be a reasonable cost and that it should be allowed to see what MedStar paid to healthcare providers - RTRS.  Full Article

Johnson & Johnson raises low end of prior FY 2015 EPS guidance
Tuesday, 13 Oct 2015 07:30am EDT 

Johnson & Johnson:Expects FY 2015 adjusted earnings guidance in the range of $6.15 - $6.20 per share.Says the guidance excludes the impact of after-tax intangible amortization expense and special items.FY 2015 EPS of $6.16 - Thomson Reuters I/B/E/S.  Full Article

Johnson & Johnson announces share repurchase program
Tuesday, 13 Oct 2015 06:45am EDT 

Johnson & Johnson:Says its Board of Directors has approved the repurchase of up to $10 billion of the company's common stock.Says intends to finance the share repurchase program through issuance of debt.  Full Article

Johnson & Johnson starts Clinical Trial of Ebola Vaccine Regimen
Friday, 9 Oct 2015 02:00am EDT 

Johnson & Johnson:Says the start of a safety and immunogenicity clinical trial in Sierra Leone of a preventive Ebola vaccine regimen in development at its Janssen Pharmaceutical Companies.Trial recruitment is underway, and the first volunteers have received their initial vaccine dose.This is the first study conducted of Janssen's Ebola prime-boost vaccine regimen in a West African country affected by the recent Ebola epidemic.  Full Article

Johnson & Johnson gets partial win against Covidien in surgical patent case - Reuters
Thursday, 6 Aug 2015 08:00pm EDT 

Johnson & Johnson:Johnson & Johnson subsidiary Ethicon Endo-Surgery Inc will get a second chance to hold rival surgical instrument maker Covidien Plc liable for allegedly infringing two patents on a specialized ultrasonic scalpel that cuts and seals blood vessels.Says The U.S. Court of Appeals for the Federal Circuit said a lower court should not have canceled one of Ethicon's patents, and incorrectly ruled that Covidien did not infringe the other.Says the appeals court, however, upheld a ruling that Covidien did not copy the design of Ethicon's device.Says the devices behind the legal dispute have been used by surgeons who prefer all-in-one surgical tools that use ultrasonic energy for vibrating blades at high frequency to cut tissue.  Full Article

J&J asks 5th Circuit to delay next Pinnacle hip bellwether trial

Johnson & Johnson and its DePuy Orthopaedics unit have asked a federal appeals court to halt an upcoming bellwether trial over their Pinnacle metal-on-metal hip implants until their challenges to a previous $502 million verdict are resolved.