Oct. 15, 2013, 2:44 PM
- On emerging markets: JNJ CFO Dominic Caruso says the company maintained "double-digit growth ... somewhere near 11%, 12% combined in the BRIC markets," for Q3. As for China, JNJ saw "an overall slower level of market growth" for the period.
- In response to JPMorgan analyst Mike Weinstein's question regarding growth in the consumer business: "The consumer business has had some challenges related to the overall economic slowdown [but] certain pockets of the business ... are doing extremely well," Caruso notes, adding that although JNJ "still [has a] little ways to go with some innovation ... the emerging markets consumer business continues to do well [as] those consumers begin to purchase more personal care products."
- On the SYK-MAKO deal: DePuy Synthes Chairman Michel Orsinger says "robotics, in its current stage ... has not yet been proven [to be] the best solution to address outcomes, efficiency and costs," and while "It has theoretical incremental improvement in surgical accuracy [it comes] with increased significant surgical time and capital cost."
- CC transcript
- Q3 earnings rundown
Oct. 15, 2013, 8:04 AM
- Shares of Johnson & Johnson (JNJ) are up 1.8% premarket following the company's top and bottom line Q3 beat.
- Domestic sales rise 1.7% for the quarter, while international sales jump 4.2%.
- Diluted EPS +8.8% Y/Y.
- Global consumer sales come in at $3.6B, up 2% Y/Y ex-currency impact.
- Global pharmaceutical sales rise 10.9% (ex-currency impact) to $7B.
- Worldwide medical devices sales of $6.9B rise slightly, but fall when adjusted for a negative currency impact of 2.3%.
- FY13 EPS guidance raised to $5.44-5.49 from $5.40-5.47. Consensus is $5.46. (PR)
Oct. 15, 2013, 7:47 AM
- Johnson & Johnson (JNJ): Q3 EPS of $1.36 beats by $0.04.
- Revenue of $17.6B (+3.1% Y/Y) beats by $0.19B. (PR)
Oct. 15, 2013, 12:05 AM
Oct. 14, 2013, 5:30 PM
Oct. 14, 2013, 10:01 AM
- Leerink starts Acceleron Pharma (XLRN -0.3%) at Outperform.
- The company is "pushing innovation boundaries with lead compounds for anemia (Sotatercept, ACE-536) and oncology (Dalantercept)," analyst Marko Kozul says.
- Leerink thinks Sotatercept and ACE-536 "have potential to compete directly with ESAs" such as Aranesp and Epogen (AMGN) and Procrit (JNJ).
- As for Dalantercept (ACE-041), Kozul says it "could be used synergistically with any VEGF-inhibitor."
- Finally, Kozul says XLRN "has important catalysts for almost every quarter through YE14."
- Price target is set at $33.
- Leerink starts Acceleron Pharma (XLRN -0.3%) at Outperform.
Oct. 11, 2013, 4:48 PM
- Goldman Sachs removed its Sell rating today on Johnson & Johnson (JNJ +1.9%), upgrading shares to Neutral with a $95 price target, up from $87, on an improved outlook for JNJ's pharma business.
- Pharma has exceeded expectations, Goldman Sachs, seeing momentum continuing with pending launches of ibrutinib and simeprevir, and longer-term anticipating FDA filings of several biologics, including daratumumab (FDA breakthrough designation), sirukumab, and siltuximab.
- The firm believes pharma is converging with biotech and sees the sector in the midst of a multi-year re-rating.
Oct. 10, 2013, 7:57 AM
- Solid Q3 results are coming for Johnson & Johnson (JNJ), says Bernstein, reiterating its Buy rating and $97 price target. OTC sales are expected to have grown 8%, says the team, which is also upbeat on pharmaceutical sales.
- Shares +0.8% premarket.
Oct. 8, 2013, 3:04 PM
- Johnson & Johnson's (JNJ -0.7%) purchase of GlaxoSmithKline's (GSK -1%) hepatitis C treatment sends Idenix Pharmaceuticals (IDIX -15.8%) tumbling. JNJ bought the rights to a compound in a class of drugs called non-structural 5A protein inhibitors, suggesting it's close to ending its partnership with Identix based on its hep C therapies, including the NS5A drug samatasvir, says Wells' Brian Abrahams.
- "Hep C battle lines (are) being drawn,” says Abrahams. Idenix’s drug “will need a new partner.”
Oct. 1, 2013, 1:49 PM
- Protracted attempts to alleviate a shortage of Johnson & Johnson's (JNJ +0.7%) Doxil have come up short because new manufacturers can't get regulatory approval for production until H2 2014, the company says.
- JNJ's lawyers have filed suit in an effort to force Boehringer Ingelheim to help settle the dispute which began in 2011 when the FDA shut down production at Boehringer's Ohio plant due to quality concerns.
- For now, the availability of the drug remains uncertain.
Oct. 1, 2013, 7:23 AM
- Johnson & Johnson (JNJ) has reportedly received first-round offers from Blackstone (BX), Carlyle (CG) and other major private-equity firms in an auction of its Ortho Clinical Diagnostics unit, which could attract $5B.
- The business makes blood-screening equipment and laboratory blood tests, and has annual sales of $2B, but the tests are older and not as lucrative as modern molecular diagnostics.
Sep. 30, 2013, 12:03 PM
- C.R. Bard (BCR -0.6%), Endo Health (ENDP) and Boston Scientific (BSX +2%) may be set to resolve as many as 50K lawsuits tied to vaginal-mesh implants, people familiar with the matter tell Bloomberg.
- BCR and ENDP have already settled some cases related to the devices. (previous)
- For its part, Johnson & Johnson's (JNJ +0.1%) Ethicon subsidiary is still attempting to wade through the pile of complaints in order to determine which claims have merit and which claims are "unfounded," the company says.
Sep. 26, 2013, 11:47 AM
- All aboard the Pharmacyclics (PCYC +8.6%) bandwagon. JPMorgan's Cory Kasimov is out with new coverage at Overweight.
- The stock "certainly isn't cheap," Kasimov notes (it's up more than 100% so far this year), but that doesn't stop him from predicting that it's about to get even less cheap: Price target is $142.
- The rationale: It's all about Ibrutinib (developed with JNJ) which William Blair says may just be the "largest product in hematology oncology history."
- "Investor appetite will persist based on the drug's multibillion-dollar sales potential," Kasimov says, adding that "on the regulatory front, ibrutinib is largely de-risked given its highly promising safety/efficacy profile and multiple Breakthrough Therapy designations." JPM expects approval this year.
- More on Ibrutinib and Breakthrough Therapy here
Sep. 23, 2013, 12:24 PM
Sep. 12, 2013, 7:45 AM
- Johnson & Johnson (JNJ) is recalling 5,000 vials of its Risperdal Consta schizophrenia treatment after tests found that one lot of the injected drug was contaminated with alternaria alternata, a common mold.
- There have so far been no reports of patient complications.
- The recall is the latest in a series for J&J, which last week recalled 200,000 bottles of its Motrin Infants Drops formula due to a risk that they contained tiny plastic particles.
Sep. 10, 2013, 8:49 AM
- Celltrion and Hospira (HSP) get final approval from the European Commission for Inflectra.
- The rheumatoid arthritis treatment is a biosimilar of Johnson & Johnson (JNJ) and Merck's (MRK) Remicade ($2B in European sales last year).
- The news marks a biotech milestone: It's Europe's first biosimilar monoclonal antibody therapy.
- HSP will launch the drug "at the earliest opportunity taking into account any relevant patent protection." (PR)
Johnson & Johnson operates as an investment holding company with interests in health care products. It engages in research and development, manufacture and sale of personal care hygienic products, pharmaceuticals and surgical equipment. The company, through its subsidiaries operates in three... More
Industry: Drug Manufacturers - Major
Country: United States
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