yorkfotoIntroduction "What's the Fed going to do?" may be the single most important question this year. If we were to ask the market, it would tell us that the Fed will cut rates six times this year. CME GroupWhile Fed Funds Futures, the tool used to arrive at this estimate, are highly volatile, I believe the fact that six cuts are now the consensus estimate worries me a bit. After all, if inflation remains elevated, the Fed will have to keep rates higher for longer, causing markets to price in the impa ...

Johnson & Johnson (JNJ) closed the most recent trading day at $160.97, moving +0.63% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.8%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.18%.Prior to today's trading, shares of the world's biggest maker of health care products had gained 0.9% over the past month. This has lagged the Medical sector's gain of 5.8% and the S&P 500's gain of 3.4% in that time.The invest ...

NEW BRUNSWICK, N.J.--(BUSINESS WIRE)--Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has declared a cash dividend for the first quarter of 2024 of $1.19 per share on the company’s common stock. The dividend is payable on March 5, 2024 to shareholders of record at the close of business on February 20, 2024. The ex-dividend date is February 16, 2024. About Johnson & Johnson At Johnson & Johnson, we believe health is everything. Our strength in healthcare innovation empowers us to ...

A federal judge said Johnson & Johnson shareholders may pursue as a class action their lawsuit accusing the company of fraudulently concealing how its talc products were contaminated by cancer-causing asbestos. U.S. District Judge Zahid Quraishi in Trenton, New Jersey, on Friday allowed shareholders from Feb. 22, 2013, to Dec. 13, 2018, to pursue their securities fraud claims as a group.He rejected J&J's argument that any class period be at least a year shorter because some events that allegedly caused its ...

智通财经APP获悉，强生(JNJ.US)旗下的Janssen Biotech 签署了一项价值高达17亿美元的许可协议，以开发和商业化韩国LegoChem Biosciences公司的候选药物LCB84。 根据该协议，Janssen将预先支付1亿美元，获得开发和商业化Trop2靶向抗体药物偶联物(ADC)LCB84的全球独家权利。LegoChem还有资格获得2亿美元的期权行权付款、各种里程碑付款以及净销售额的分级特许权使用费。 据了解，LCB84最近在美国启动了1/2期研究，用于潜在的癌症治疗。 ...

FatCamera When looking for dividend stocks, I'm as concerned about capital growth as I am about compounding safe income. The issue is that companies that pay dividends (unless required by law) often do so because it's the most efficient use of cash to return value to shareholders. But this often comes at the expense of company growth. But I don't think this entirely holds for Johnson & Johnson (NYSE:JNJ). In addition to paying out excellent dividends, it's also using that excess cash to make a bold leap ...

Worldwide and Regional Sales Performance - Worldwide sales for the fiscal nine months of 2023 were $63.8 billion, a 6.2% increase compared to $60.1 billion in 2022, with operational growth of 7.5% and a negative currency impact of 1.3%[208] - U.S. sales for the fiscal nine months of 2023 were $34.4 billion, a 10.5% increase compared to the prior year, with acquisitions and divestitures contributing a positive 2.5% to operational growth[209] - International sales for the fiscal nine months of 2023 were $29.3 billion, a 1.5% increase, including operational growth of 4.2% and a negative currency impact of 2.7%[209] - Sales in Europe for the fiscal nine months of 2023 declined by 0.6%, with operational decline of 1.0% and a positive currency impact of 0.4%[210] - Worldwide sales for the fiscal third quarter of 2023 were $21.4 billion, a 6.8% increase compared to $20.0 billion in 2022, with operational growth of 6.4% and a positive currency impact of 0.4%[211] - U.S. sales for the fiscal third quarter of 2023 were $12.0 billion, an 11.1% increase compared to the prior year, with acquisitions and divestitures contributing a positive 2.2% to operational growth[212] - International sales for the fiscal third quarter of 2023 were $9.4 billion, a 1.6% increase, including operational growth of 0.7% and a positive currency impact of 0.9%[212] Innovative Medicine Segment Performance - Innovative Medicine segment sales for the fiscal nine months of 2023 were $41.0 billion, a 4.2% increase compared to the same period a year ago, with operational growth of 5.1% and a negative currency impact of 0.9%[214] - U.S. Innovative Medicine sales for the fiscal nine months of 2023 increased by 8.8% compared to the same period a year ago, while international sales decreased by 1.2%[214] - Innovative Medicine segment sales for the fiscal third quarter of 2023 were $13.9 billion, a 5.1% increase compared to the same period a year ago, with operational growth of 4.3% and a positive currency impact of 0.8%[216] - Immunology products achieved operational growth of 12.4%, with STELARA sales reaching $2.864 billion, a 16.9% increase year-over-year[217][219] - Infectious Diseases sales declined by 37.8% operationally, primarily due to a 91.5% drop in COVID-19 vaccine revenue to $41 million[217][220] - Neuroscience products grew 4.6% operationally, driven by SPRAVATO sales increasing 82.1% to $183 million[217][221] - Oncology products saw 10.4% operational growth, with DARZALEX sales up 21.8% to $2.499 billion[217][221] - Pulmonary Hypertension sales grew 12.4% operationally, with UPTRAVI sales increasing 20.7% to $402 million[217][222] - Cardiovascular/Metabolism/Other products declined 8.0% operationally, with XARELTO sales down 9.4% to $625 million[217][222] MedTech Segment Performance - MedTech segment sales increased 10.0% to $22.7 billion, with operational growth of 12.0% and a negative currency impact of 2.0%[225][226] - Interventional Solutions sales surged 46.2% to $4.681 billion, driven by the Abiomed acquisition[226] - Vision sales grew 4.3% to $3.864 billion, with Contact Lenses/Other sales up 4.0% to $2.820 billion[226] - Total MedTech sales increased by 10.0% to $7.458 billion, with operational growth of 10.4% and a currency impact of -0.4%[227] - Interventional Solutions franchise achieved operational sales growth of 48.1%, driven by the acquisition of Abiomed and double-digit growth in Electrophysiology[229] - Orthopaedics franchise saw operational sales growth of 2.6%, with Hips and Knees growing by 6.5% and 6.7% respectively[228] - Vision franchise achieved operational sales growth of 5.4%, with Surgical segment growing by 10.3%[230] Financial Performance and Tax - Consolidated earnings before provision for taxes on income for Q3 2023 was $5.2 billion, representing 24.4% of sales[231] - Cost of products sold increased due to commodity inflation, restructuring-related excess inventory costs, and Abiomed amortization in the MedTech business[232] - Research and Development expenses decreased as a percent to sales, driven by cost management initiatives in the MedTech business and portfolio prioritization in the Innovative Medicine business[235] - Interest income in Q3 2023 was $374 million, up from $150 million in Q3 2022, due to higher rates of interest earned on cash balances[240] - Other (income) expense, net for Q3 2023 was unfavorable by $0.3 billion, primarily due to changes in the fair value of securities[244] - The Company's debt position was $29.9 billion as of October 1, 2023, compared to $32.0 billion the same period a year ago[240] - Innovative Medicine segment income before tax increased to $14.008 billion in the fiscal nine months of 2023, up from $12.424 billion in 2022, representing 34.1% of segment sales compared to 31.5% in 2022[245][247] - MedTech segment income before tax rose to $4.265 billion in the fiscal nine months of 2023, up from $3.641 billion in 2022, accounting for 18.8% of segment sales compared to 17.6% in 2022[245][248] - Worldwide income before tax for the fiscal nine months of 2023 was $10.236 billion, down from $15.519 billion in 2022, primarily due to a $7 billion charge related to the talc settlement proposal and a $0.6 billion unfavorable change in the fair value of the retained stake in Kenvue[245][246] - The worldwide effective income tax rate for the fiscal nine months of 2023 was 10.2%, down from 15.3% in 2022, as the Company continues to evaluate the potential impact of the OECD Pillar Two Framework[254] Cash Flow and Financial Position - Cash and cash equivalents increased to $19.7 billion at the end of the fiscal third quarter of 2023, up from $14.1 billion at the end of fiscal year 2022, driven by $14.9 billion in net cash generated from operating activities[256][257] - The Company secured a new 364-day Credit Facility of $10 billion in September 2023, which expires on September 5, 2024, providing access to substantial sources of funds[261] - As of October 1, 2023, the company had $23.5 billion in cash and equivalents, with a net debt position of $6.4 billion compared to a prior year net cash position of $1.1 billion[266] - The company paid $4.9 billion to the U.S. Treasury in the fiscal nine months of 2023, including $1.5 billion related to foreign undistributed earnings[267] - The company completed a $5.0 billion share repurchase program as of April 2, 2023[267] - The company declared regular cash dividends of $1.19 per share in July and October 2023, payable in September and December respectively[268] Restructuring and Charges - The Company recorded a pre-tax restructuring charge of $0.4 billion in the fiscal nine months of 2023 related to the prioritization of its R&D investment within the Innovative Medicine segment, including the discontinuation of its RSV adult vaccine program[251] - The MedTech segment initiated a restructuring program in the third quarter of 2023, resulting in a pre-tax restructuring expense of $0.2 billion, primarily related to inventory and instrument charges from market and product exits[252] Kenvue IPO and Related Transactions - Kenvue completed its IPO on May 8, 2023, issuing 198,734,444 shares at $22.00 per share, raising net proceeds of $4.2 billion[262] - Johnson & Johnson owned 89.6% of Kenvue's total outstanding shares post-IPO, with a non-controlling interest of $1.3 billion reflected in equity[262] - Johnson & Johnson disposed of 80.1% ownership of Kenvue through an exchange offer, receiving $31.4 billion in common stock and reducing its ownership to 9.5%[264] - Johnson & Johnson recorded a $21.0 billion gain from the Kenvue exchange offer, including a $2.8 billion gain on retained Kenvue shares[265] Subsidiaries and Regional Impact - The company's Russian subsidiaries represented less than 1% of consolidated assets and revenues as of October 1, 2023[270] - The company's Israel subsidiaries represented 1% of consolidated assets and less than 1% of revenues as of October 1, 2023[272] STELARA Biosimilar Settlement - The company anticipates no biosimilar version of STELARA in the U.S. until January 1, 2025, following settlements with third parties[220]

Johnson & Johnson (NYSE:JNJ) Q3 2023 Earnings Conference Call October 17, 2023 8:30 AM ET Company Participants Jessica Moore - Vice President, Investor Relations Joe Wolk - Executive Vice President, Chief Financial Officer John Reed - Executive Vice President, Pharmaceuticals, R&D Joaquin Duato - Chairman and Chief Executive Officer Erik Haas - Vice President, Litigation Ahmet Tezel - Innovative Medicine and MedTech R&D Conference Call Participants David Risinger - Leerink Partners Matt Miksic - Barclays Ch ...

Johnson & Johnson Conference Call Summary Company Overview - **Company**: Johnson & Johnson (NYSE: JNJ) - **Event**: Morgan Stanley 21st Annual Global Healthcare Conference - **Date**: September 13, 2023 - **Participants**: Joaquin Duato (Chairman and CEO), John Reed (Executive Vice President, Pharmaceuticals, R&D) Key Points Strategic Priorities and Company Focus - Johnson & Johnson has completed the separation of its Consumer business, creating an independent company, Kenvue, allowing J&J to focus exclusively on Pharmaceuticals and MedTech [3][2] - The separation is expected to enhance productivity, margins, and growth rates, as the Consumer segment had lower margins and growth compared to MedTech and Pharma [3] - The company aims to be a multi-decade leader in healthcare, focusing on R&D and innovation [3] Financial Performance and Guidance - J&J reported an 8% growth in total revenue for the first half of 2023, with a full-year guidance midpoint of $84 billion, reflecting an 8% operational growth and over 12% EPS increase [7] - The company has a disciplined capital allocation strategy, prioritizing investments in R&D, maintaining competitive dividends, and pursuing value-creating M&A opportunities [8][9] R&D and Product Pipeline - Over the last five years, J&J invested $64 billion in R&D and $60 billion in dividends and share repurchases [9] - The company is confident in achieving $57 billion in Pharma revenue by 2025, driven by a strong portfolio including TREMFYA, ERLEADA, and DARZALEX, all expected to grow significantly [14][17] - New product launches, including CARVYKTI and TECVAYLI, are anticipated to contribute substantially to growth [18] M&A Strategy - While M&A is important for future growth, the majority of J&J's growth is expected to come from its existing R&D and portfolio [11] - The company prefers early-stage deals in both Pharma and MedTech to leverage its scale in development and commercialization [12] Myeloma and Oncology Focus - J&J has a strong position in multiple myeloma with products like DARZALEX and CARVYKTI, aiming to shift the treatment paradigm from managing to curing the disease [33][34] - The company is exploring combinations of existing therapies to enhance treatment efficacy and potentially achieve curative outcomes [39] Emerging Therapies - J&J is developing nipocalimab for autoimmune diseases, with promising safety and efficacy data expected to be disclosed soon [44][45] - The company is focused on precision medicine strategies in autoimmune diseases, aiming to improve patient outcomes [47] Market Position and Future Outlook - J&J aims for a significant market share in multiple myeloma, targeting to treat 75% of newly diagnosed patients with its regimens by the end of the decade [40] - The company is committed to providing more visibility into its growth profile and pipeline during upcoming investor events [25] Additional Insights - The company emphasizes the importance of maintaining a robust financial profile while pursuing growth opportunities [8] - J&J's dual capabilities in MedTech and Pharmaceuticals are seen as a unique advantage in addressing complex healthcare needs [6]

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