The Oklahoma State Supreme Court has overturned a 2019 opioid judgment against Johnson & Johnson (NYSE:JNJ) amounting to $465 million. Five of the six Oklahoma Supreme Court’s justices dismissed the state’s case claiming that Johnson & Johnson breached its “public nuisance” laws in its marketing of prescription opioid drugs. “Oklahoma public nuisance law does not…
U.S. cancels COVID-19 vaccine contract with Emergent BioSolutions
Emergent BioSolutions (NYSE:EBS) saw its stock plunge today after the U.S. nixed a contract to manufacture COVID-19 vaccine doses for Johnson & Johnson (NYSE:JNJ). Earlier this year, the company disposed of tens of millions of COVID-19 vaccine doses after identifying a manufacturing error in a Baltimore plant. FDA released a scathing inspection report related to…
CDC authorizes fourth COVID-19 vaccine dose for some immunocompromised patients
As a growing number of Americans become eligible for a third dose of COVID-19 vaccines, CDC continues to expand its booster guidelines. The agency has amended its criteria for moderately to severely immunocompromised people to allow a fourth dose of COVID-19 vaccine six months after receiving the third dose. The criteria pertain to immunocompromised individuals…
Johnson & Johnson rises on Q3 earnings beat
Johnson & Johnson (NYSE:JNJ) shares ticked up today on third-quarter results that topped the consensus earnings forecast. The New Brunswick, N.J.-based company posted profits of $3.7 billion, or $1.37 per share, on sales of $23.3 billion for the three months ended Sept. 30, 2021, for a 3.2% bottom-line gain on sales growth of 10.7%. Adjusted to…
Single dose of Janssen’s COVID-19 vaccine offers durable protection, but a booster amplifies it
Drawing from de-identified insurance claims data, Johnson & Johnson (NYSE:JNJ) has announced that a single dose of its Ad26.COV2.S vaccine was 79% effective in preventing COVID-19 infections and is 81% effective in preventing hospitalizations associated with the novel coronavirus. The company also released results from its Phase 3 ENSEMBLE 2 trial, which tested the impact…
Canada to donate 10 million J&J vaccine doses to developing countries
Initially facing a shortage of COVID-19 vaccines, Canada has now vaccinated a greater share of its population than the U.S. Now, the country is planning on donating 10 million doses to low- and middle-income countries via the COVAX initiative, a global program that aims to distribute vaccines in developing nations. The country had faced controversy…
Johnson & Johnson, other companies to pay $26B over opioid crisis
California Attorney General Rob Bonta announced a $26 billion settlement with Johnson & Johnson, among other companies, over opioids. The settlement includes Johnson & Johnson, which manufactured and marketed opioids, and pharmaceutical distributors Cardinal, McKesson and AmerisourceBergen. According to a news release, the settlement resolves investigations and litigation over the companies’ roles in creating and…
Emergent BioSolutions facing a shareholder lawsuits
The Baltimore-based company Emergent BioSolutions (NYSE:EBS) is the subject of at least four lawsuits asking for refunds and pushing for change in the company’s executive ranks. Some of the lawsuits targeting Emergent accuse the company of securities fraud and insider trading. Emergent has denied the allegations. “Our executives strictly follow the law and our own…
Assessing pharma headwinds and tailwinds in mid-2021
Now that we have passed the year’s midway mark, pharma continues to be in a unique position. While COVID-19 gave the industry an opportunity for a reputational reset in 2020, the pandemic is now a net positive for the industry, according to the recent Moody’s report, “Solid demand, lift from COVID-19 products continue to drive…
J&J must reportedly throw out 60M COVID-19 vaccine doses from Emergent plant
Another large amount of doses of Johnson & Johnson’s COVID-19 vaccine produced at an embattled manufacturing plant reportedly have to be thrown out. The New York Times reported that the FDA told J&J that about 60 million doses of the single-dose vaccine produced at Emergent BioSolutions’ Baltimore plant can’t be used because of possible contamination.…