Photo: CNN
According to Bloomberg, Johnson & Johnson has expressed “cautious optimism” regarding a potential settlement related to lawsuits over talc powder. Recent reports indicate the company has lowered its profit forecast for the year due to expenses linked to recent acquisitions.
In the second quarter, the company exceeded analysts’ expectations in profit, driven by strong pharmaceutical sales. Medical device sales slightly missed forecasts, but research and development costs were 15% lower than expected.
Photo: fiercepharma
Johnson & Johnson also announced an anticipated 6.4% increase in revenue to $89.4 billion in 2024, following the acquisition of Shockwave Medical and other assets.
The company aims to resolve talc powder issues with a proposed $6 billion-plus settlement over the next 25 years, hoping for majority plaintiff support by July 26.
Johnson & Johnson is focusing on developing cancer treatments and immunological drugs to offset anticipated losses from competitive pricing pressures on Stelara in the US and Europe.
Over the past year, the company has actively invested approximately $35 billion in medical technologies and plans to continue seeking new expansion opportunities.
Highlighting successes in key segments like the cancer drug Darzalex and psoriasis treatment Tremfya, the company is advancing with a strategy aimed at increasing profitability and innovative solutions in the medical field.
