News for Johnson & Johnson
Mar 5 · 9:55:00 AM · Source: Reuters.com
Reuters.com is reporting that Johnson & Johnson announced that for fiscal 2010, it continues to expect earnings of $4.85 to $4.95 per share. According to Reuters Estimates, analysts on an average are expecting the Company to report earnings per share (EPS) of $4.92 for fiscal 2010.
At today's stock price of about $63.80, with a 2010 EPS of $4.92 that results in a forward PE of about 13. That seems like a flat out steal of a valuation for J&J.
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by Rich Pike
Feb 18 · 12:10:00 PM · Source: Wall Street Journal
The Wall Street Journal is reporting that Johnson & Johnson plans to cut the yearly performance-bonus maximums for 38% of its employees and freeze salaries for certain workers, according to an internal announcement and other company documents. J&J reported a 19% drop in fourth-quarter earnings, largely because of charges related to cost restructuring. The company had announced in November that it was eliminating 8,200 jobs, mostly overseas.
"The cost savings from this program are minimal. It is not why we implemented the program. This program is about creating a global compensation program that is consistent and equitable for our employees across the company," a J&J spokeswoman said.
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by Rich Pike
Dec 31 · 12:16:00 PM · Source: Marketwire
Basilea Pharmaceutica Ltd. announces that the US Food and Drug Administration (FDA) issued to the sponsor, Johnson & Johnson Pharmaceutical Research and Development, LLC (Johnson & Johnson PRD), a Complete Response Letter on ceftobiprole for the treatment of complicated skin and skin structure infections (cSSSI).
The FDA has indicated in its Complete Response Letter to Johnson & Johnson PRD that it has completed the review of the application and has determined that it cannot approve the application in its present form. The Agency determined that data from Studies BAP00154 and BAP00414 cannot be relied upon because inspections and audits of approximately one-third of the clinical trial sites for these studies found the data from a large proportion of these sites to be unreliable or unverifiable, raising concerns regarding the overall data integrity for both studies.
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by Michael Oliveto
Dec 29 · 1:59:00 PM · Source: MSN Money
Johnson & Johnson is expanding a voluntary recall of Tylenol Arthritis Caplets due to consumer reports of a moldy smell that can cause nausea and sickness.
Johnson & Johnson had recalled five lots of the product last month after consumers complained of a musty, mildew-like odor that triggered nausea, stomach pain, vomiting and diarrhea. The health care company said the odor results from trace amounts of a chemical called 2,4,6-tribromoanisole. That chemical is believed to result from the breakdown of another chemical used to treat wooden pallets that transport and store packaging materials. To date, the side effects, which also include vomiting and diarrhea, have been "temporary and non-serious," although the health effects of the compound have not been studied.
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by Michael Oliveto
Nov 3 · 9:59:00 AM · Source: Company News Release
Johnson & Johnson said Tuesday it will cut up to 7% of its global workforce as part of an ongoing cost-cutting plan that the company says will save between $1.4 and $1.7 billion by 2011. The consumer health product maker has about 117,000 employees spread across more than 250 companies.
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by Larry Etter
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