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JNJ

Johnson & Johnson

6/19/2013, 5:40 AM ET

Quote & Headlines Market Currents StockTalk

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Monday, June 17, 1:08 PM Xtandi competitor ARN-509 "still has many outstanding questions/hurdles," JPMorgan's Geoff Meacham says, reiterating an Overweight rating on shares of Medivation (MDVN -9.3%) which are currently in a tailspin following JNJ's acquisition of Aragon (I, II). Meacham acknowledges that Aragon's cause (both from a legal and development perspective) will be helped by JNJ's substantial resources, but notes that early stage prostate cancer agents face "significant clinical, regulatory, and commercial hurdles." Comment! [Healthcare, On the Move]
Monday, June 17, 8:27 AM Johnson & Johnson (JNJ +0.6%) has agreed to acquire privately held Aragon Pharmaceuticals for $650M in cash upfront and a further $350M in milestone payments. Aragon is carrying out Phase II trials for its prostate cancer drug ARN-509. The deal excludes the company's experimental breast-cancer treatment, which will be spun off into a separate company called Seragon Pharmaceuticals. (PR) Comment! [Healthcare]
Monday, June 17, 6:11 AM Elan is holding an investors' meeting today, where shareholders are due to vote on four proposals, including a share $200M buyback, a drug spin-off and a series of acquisitions. A vote in favor of any of the resolutions would void an offer of up to $8B from U.S. investment firm Royalty Pharma. Elan put itself up for sale on Friday, but still refused to engage with Royalty over the weekend, much to the latter's frustration. One imagines that Johnson & Johnson (JNJ) must be pleased to be well out of it, having last week sold the rest of its ADRs in Elan for $332.5M. Comment! [Healthcare, M&A, Top Stories]
Wednesday, June 12, 3:08 AM Amgen's (AMGN) blockbuster Enbrel drug for treating rheumatoid arthritis, which generated sales of $4.23B last year, is no more effective than a combination of three generic treatments, a study shows. While a regimen that includes Enbrel costs $25,000 a year per patient, the "triple therapy" costs just $1,000. The research didn't examine similar drugs from AbbVie (ABBV) or Johnson & Johnson (JNJ), although many doctors consider them to be equivalent to Enbrel. Despite the study, researchers feel that the branded treatments might be too well ensconced to be quickly replaced. 4 Comments [Healthcare, Top Stories]
Tuesday, June 11, 11:36 AM UBS suggests 11 dividend growing stocks to buy for income; each has a dividend yield of at least 2.5%, has increased its payout ratio by more than 5% during the past year, and has positive consensus EPS growth over the next 12 months: WMB, ESV, NUE, JNJ, CAG, KLAC, CSCO, BBT, AAPL, BAX, F. 2 Comments [Quick Ideas]
Friday, June 7, 1:24 PM Jefferies is out with some price target revisions and color after conducting a "global pharma review." Rundown: Top U.S. pick Abbott Laboratories (ABT +1.9%) reiterated at Buy, PT lowered to $44 from $46; top global pick Novartis (NVS +0.3%) has "positive growth inflection potential" in FY14; AbbVie (ABBV +0.6%), Roche (RHHBY.OB +2.5%), and Sanofi (SNY +0.5%) offer "attractive entry points" but ABBV's PT is lowered to $51 from $54; Johnson & Johnson's (JNJ +0.2%) PT lowered to $91 from $97; Merck (MRK -0.3%) has its price target raised to $56 from $54 and Pfizer (PFE +1.3%) has its target lowered slightly to $32. (Previous: Jefferies SOTP analysis) 3 Comments [Healthcare, On the Move]
Thursday, June 6, 9:37 AM Western drugs for baldness are gaining ground in China from traditional herbal remedies and even more esoteric treatments such as snake gall bladders. The market is small but has surged 90% to 100.7M yuan ($16.4M) in five years, and it looks like it could grow much further: in one survey, 47% of respondents said they had sought help for their hair loss. Companies that could benefit include Merck (MRK), J&J (JNJ), Pfizer (PFE) and L'Oreal (LRLCF.PK). 2 Comments [Healthcare]
Wednesday, June 5, 2:47 PM A study in the European Heart Journal suggests Alzheimer's drugs such as Pfizer (PFE -0.6%) and Eisai's (ESALF.PK) Aricept, Novartis' (NVS -1.3%) Exelon, and Johnson & Johnson's (JNJ -0.4%) Razadyne may reduce the risk of heart attacks and death. 2 Comments [Healthcare]
Wednesday, June 5, 2:32 PM Johnson & Johnson (JNJ -0.6%) unit Janssen Biotech commits to upfront and prospective milestone payments to California-based Second Genome in connection with a collaborative venture aimed at finding new treatments for ulcerative colitis. Comment! [Healthcare]
Wednesday, June 5, 8:06 AM Johnson & Johnson (JNJ) voluntarily recalls 32M packages of its birth control pill Cilest in Europe, Asia and Latin America after tests reportedly showed that one of the two hormones in the product was being released more slowly than intended. J&J says that one of Cilest's active ingredients did not lead to "defined specification." J&J adds that the pill, which is not sold in the U.S., remains safe and effective. 2 Comments [Healthcare]
Tuesday, May 28, 2:42 PM More from Jefferies' "proprietary sum of the parts analysis" of big pharma: Price target on Bristol Myers Squibb (BMY +0.7%) raised to $53.50 from $45, Buy rating reiterated; price target on Johnson & Johnson (JNJ +0.6%) raised to $97 from $90, reiterated at Hold; AbbVie (ABBV -0.5%) reiterated at Buy, price target raised to $54 from $51; Novartis (NVS -1.5%) is "top European pick"; price target for Abbott (ABT +1.3%), the "top U.S. pick", is raised to $46 from $43. (More big pharma: DB upgrades GSK) 1 Comment [Healthcare, On the Move]
Thursday, May 23, 8:35 AM Johnson & Johnson's (JNJ) Pharmaceuticals Business Review is just getting underway (webcast) (agenda) (presentation). The company anticipates more than 10 new product filings and 25 significant brand extensions by 2017. Shares -1.2% premarket. Comment! [Healthcare, Breaking News]
Thursday, May 16, 11:39 AM Johnson & Johnson's (JNJ -0.2%) says Simponi, its drug for hard to treat ulcerative colitis being produced by subsidiary Janssen Biotech, has received FDA approval. The injectable drug is used to induce and maintain remission from the chronic inflammatory bowel disease, which is marked by inflammation and ulceration of the innermost lining of the colon. Comment! [Healthcare]
Monday, May 13, 1:10 PM Pharmacyclics (PCYC +9.5%) trades higher today after RBC Capital ups the shares to Outperform and raises its price target to $100 from $70. The firm cites optimism over a number of upcoming catalysts for its leukemia drug Ibrutnib, which is being jointly developed by PCYC and JNJ's Janssen Pharmaceuticals. 1 Comment [Healthcare, On the Move]
Thursday, May 9, 5:29 PM A $2.2B settlement of a federal investigation into Johnson & Johnson (JNJ) sales practices is on hold, WSJ reports, as JNJ seeks to avoid wording in the agreement that could leave it vulnerable to private lawsuits. JNJ had agreed to settle a Justice Department investigation into allegations it had illegally promoted drugs including the antipsychotic Risperdal. Comment! [Consumer]
Monday, May 6, 12:56 PM Johnson & Johnson (JNJ -1%) dips today on the back of its announcement over the weekend that it's recalling all bottles of Children's Tylenol it made and sold in South Korea, after finding high levels of acetaminophen, it's main ingredient. The company says it traced the problem to the failure of machines that fill the bottles at the end of manufacturing runs. Once they failed, some of the remaining bottles were filled by hand, leading to the improper concentrations. JNJ says the health risk is remote, and it hasn't received any reports of harm. The recall doesn't affect any products sold in the U.S. 1 Comment [Healthcare, Global & FX]

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