Johnson & Johnson Faces Talc Verdicts, MedTech Launch, and RYBREVANT Approval
Johnson & Johnson faces new talc verdicts in Minnesota and Pennsylvania totaling over $10 million, with 67,000+ lawsuits pending. Meanwhile, the FDA approved a new monthly dosing for RYBREVANT FASPRO, and the company launched its Shockwave C2 Aero coronary catheter globally.
Johnson & Johnson is facing multiple legal developments related to its talc-based products, while simultaneously advancing its MedTech and oncology portfolios. A Minnesota jury awarded US$10.20 million to Daniel and Nicole Heyer in a mesothelioma case against five cosmetic talc manufacturers, finding that products from Vi-Jon, Johnson & Johnson, and others were defectively designed and failed to warn consumers about asbestos-related cancer risks. Separately, a Pennsylvania jury awarded $250,000 in damages to the family of a woman who linked her ovarian cancer to Johnson & Johnson's talc-based baby powder. Another Pennsylvania jury ordered Johnson & Johnson to pay damages in a talc baby powder case related to alleged cancer risks.
Johnson & Johnson faces over 67,000 similar product safety lawsuits related to talc, with more talc trials scheduled across the US and thousands of related lawsuits still pending.
On the product development front, the US FDA approved a new monthly dosing schedule for RYBREVANT FASPRO as a first-line lung cancer treatment. Johnson & Johnson also globally launched its next-generation Shockwave C2 Aero coronary catheter for complex calcified coronary artery disease, reinforcing MedTech as a key growth driver.
Separate research has identified the genetic cause of rare blood clotting events associated with Johnson & Johnson's COVID vaccine. The findings may inform future vaccine design and safety for Johnson & Johnson and the wider pharmaceutical sector.
Johnson & Johnson's narrative projects $116.5 billion revenue and $26.9 billion earnings by 2029, requiring 6.5% yearly revenue growth and about a $5.9 billion earnings increase from $21.0 billion today. The most optimistic analysts were penciling in about US$115.7 billion of revenue and US$26.2 billion of earnings by 2029.
The stock recently traded at about $243.33–$243.45, with returns of approximately 2.1% over the past week, 11.3–11.4% over the past month, and 17.4% year to date. Longer-term returns include 60.5–60.7% over one year, 65.1–67.5% over three years, and 72.2–73.7% over five years. At $243.45, the stock trades about 5% above the US$231.25 analyst price target, which sits toward the middle of a wide US$155 to US$265 range.