Johnson & Johnson's latest gambit to solve its massive talcum powder asbestos issue: A $6.5 billion settlement, paid out over 25 years [Fortune]
Johnson & Johnson (JNJ)
Last johnson & johnson earnings: 4/14 06:31 am
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Source: Fortune
The pharmaceutical giant, J&J for short, proposed a new way to settle thousands of pending lawsuits that allege its talc-based products, including an older baby powder formula, contained asbestos and caused ovarian cancer: a $6.475 billion payout over the next 25 years. The new settlement would be a financial hit for J&J, which maintains its products do not contain asbestos or cause cancer. When put in context of the company's size, however, it doesn't seem so extreme. The $6.475 billion, which again will be paid out over multiple decades, represents just 7.8% of the $85.2 billion in sales Johnson & Johnson pulled in last year, 18.3% of its $35.2 billion in net earnings, or 42.8% of its $15.1 billion in research and development expenses, SEC filings show. Even looking at the nominal value of the latest potential talc-settlement—approximately $8.4 billion , which is then discounted at a rate of 4.4%—the payout represents less than 10% of J&J's 2023's revenue. And investors clearly
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JNJ
Earnings
- 4/16/24 - Beat
JNJ
Sec Filings
- 5/14/24 - Form FWP
- 5/14/24 - Form 424B5
- 5/14/24 - Form FWP
- JNJ's page on the SEC website