Key Developments: Johnson & Johnson (JNJ)
88.09USD
17 May 2013
$0.64 (+0.73%)
$87.45
$87.47
$88.20
$87.41
11,439,498
9,723,208
$88.20
$61.71
Latest Key Developments (Source: Significant Developments)
Johnson & Johnson Announces Dividend Increase Of 8.2%
Johnson & Johnson announced that Board of Directors has declared an 8.2% increase in the quarterly dividend rate, from $0.61 per share to $0.66 per share. The increase was announced this morning at the Annual Meeting of Shareholders in New Brunswick, NJ. Full Article
Fitch Affirms Johnson & Johnson's IDRs At AAA/F1+; Outlook Stable
Johnson & Johnson announced that Fitch Ratings has affirmed Johnson & Johnson's (JNJ) long-term AAA debt ratings. The Rating Outlook is Stable. In addition, Fitch has affirmed JNJ's short-term Issuer Default Rating (IDR) at F1+. The rating action reflects Fitch's expectation that JNJ's broad-based business model will generate improving operational and financial performance. Fitch anticipates that JNJ will operate with leverage consistent with AAA rating and solid liquidity, supported by cash balances and ample access to credit markets. Full Article
Johnson & Johnson Reaffirms FY 2013 EPS Guidance
Johnson & Johnson confirmed earnings guidance for fiscal 2013 of $5.35-$5.45 per share. The Company's guidance excludes the impact of special items. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $5.39 for fiscal 2013. Full Article
Johnson & Johnson's Cordis Corporation Announces Acquisition Of Flexible Stenting Solutions, Inc
Cordis Corporation announced it has completed the acquisition of Flexible Stenting Solutions, Inc., a developer of flexible peripheral arterial, venous and biliary stents. Terms of the acquisition were not disclosed. Cordis Corporation, part of the Johnson & Johnson family of companies. Financial terms were not disclosed. Full Article
Johnson & Johnson Sees Q1 2013 Charge Guidance
Johnson & Johnson announced that based on its preliminary assessment of the impact of the Venezuelan government's decision to devalue its currency effective February 13, 2013, that it expects to incur a charge of approximately $100 million to net income in the first quarter of 2013 or approximately a $0.04 negative impact to earnings per share. This charge is related to the remeasurement of the local balance sheet at the date of the devaluation and is not expected to impact earnings per share guidance for fiscal 2013 which was previously announced on January 22, 2013. Full Article
FDA recalls Johnson & Johnson's Orthopedic Device Because Of Fracture Potential-Reuters
Reuters reported that The U.S. Food and Drug Administration said it has notified healthcare professionals of a Class I recall, the most serious type, of an orthopedic device made by Johnson & Johnson. The device, called LPS Diaphyseal Sleeve, is used in reconstructive knee surgery. It was recalled because of the potential for fractures, the FDA said. The agency said it has received 10 reports of incidents in which the device has malfunctioned. The affected devices were manufactured by Depuy, J&J's orthopedic unit, from 2008 to July 20, 2012. Full Article
Johnson & Johnson Recalls More Metal Hip Implants-Reuters
Reuters reported that Johnson & Johnson has recalled a second type of metal hip component that it sold outside of the United States last month. J&J's DePuy unit told doctors in January that the Adept modular heads, a component used with its Adept metal-on-metal hip replacement device, should not be used after data showed that the devices were failing at a higher than expected rate, according to an emailed statement. The email said British data showed that the Adept implants needed to be replaced in about 12% of patients after seven years. An Australian patient registry showed a revision rate of 7% after three years. Full Article
Johnson & Johnson Loses $63 Million Verdict In Motrin Case-Reuters
Reuters reported that A Massachusetts jury said Johnson & Johnson must pay a teenage girl and her family $63 million, finding she lost much of her skin and suffered other serious harm after taking the Company's Motrin painkiller in 2003. The Plymouth Superior Court jury found that Samantha Reckis developed Stevens-Johnson Syndrome and Toxic Epidermal Necrolysis after taking Children's Motrin when she was 7 years old. Full Article
EU Regulator Charges Johnson & Johnson, Novartis AG Over Dutch Painkiller Delay-Reuters
Reuters reported that EU regulators stepped up their fight against drug companies suspected of blocking cheap generic medicines, charging Johnson & Johnson and Novartis over a painkiller called fentanyl. Full Article
Johnson & Johnson To Sell Off Diagnostics Unit-Reuters
Reuters reported that Johnson & Johnson may sell or spin off its slow-growing $2 billion-a-year diagnostics business, the Company said when it reported quarterly earnings. The diversified healthcare company said it may sell the Ortho Clinical Diagnostics business - whose products include equipment for laboratory diagnostics and blood transfusion screening - or turn it into a stand-alone company. Full Article
FDA approves J&J's Simponi to treat ulcerative colitis
- The Food and Drug Administration has approved Johnson & Johnson's drug Simponi for patients with moderate to severe ulcerative colitis, an inflammatory disease affecting the colon.
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