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☆ Watch CNBC's full interview with J&J CFO Joseph Wolk on Q1 earnings
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with J&J CFO Joseph Wolk on Q1 earningsJohnson & Johnson CFO Joseph Wolk joins ‘Squawk Box’ to discuss the company’s first quarterly earnings results, which topped expectations and more.

Persons: Joseph Wolk, Johnson Organizations: J, Johnson

☆ J&J CFO Joseph Wolk on Q1 earnings
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJ&J CFO Joseph Wolk on Q1 earningsJohnson & Johnson CFO Joseph Wolk joins ‘Squawk Box’ to discuss the company’s quarterly earnings results that topped Wall Street’s expectations.

Persons: Joseph Wolk, Johnson Organizations: Johnson

☆ Johnson & Johnson to settle talc baby powder investigation, will reportedly pay $700 million
▼ + stars: | 2024-01-23 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023 in San Anselmo, California. Johnson & Johnson has reached a tentative settlement to resolve an investigation by more than 40 states into claims the company misled patients about the safety of its talc baby powder and other talc-based products, the company said in a statement to CNBC on Tuesday. Those cases have for decades caused financial and public relations trouble for J&J, which contends that its talc-based products and now-discontinued talc baby powder are safe for consumers. J&J said in an October securities filing that 42 states and Washington, D.C., had launched a joint investigation into its marketing of talc-based products. The company will pay $700 million to settle the probe, its CFO Joseph Wolk told The Wall Street Journal on Tuesday.

Persons: Johnson, J, Joseph Wolk Organizations: Johnson, CNBC, D.C, Wall Locations: San Anselmo , California, Washington

☆ J&J CFO Joseph Wolk on Q4 earnings beat: Near- and long-term looks very strong at the company
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJ&J CFO Joseph Wolk on Q4 earnings beat: Near- and long-term looks very strong at the companyJohnson & Johnson CFO Joseph Wolk joins 'Squawk Box' to discuss the company's quarterly earnings results, which reported fourth-quarter earnings and revenue that narrowly edged out Wall Street’s expectations.

Persons: Joseph Wolk, Johnson

☆ Johnson & Johnson forecasts as much as 6% sales growth in 2024
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Dec 5 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday forecast revenue growth of 5-6% for the next year, as it banks on strong demand for cancer treatments Darzalex and Carvykti and resilient sales of blockbuster drug Stelara. The company has narrowed its focus on its drugs and medical devices business since it hived off its consumer health unit earlier this year. Sales of blockbuster psoriasis treatment Stelara in Europe are expected to come under pressure as early as next year as a key patent on the drug expires. Sales of the drug largely come from its use as a treatment for inflammatory bowel diseases (IBD), Wolk said. J&J's 2024 revenue growth forecast excludes sales of its COVID vaccine.

Persons: Johnson, Joseph Wolk, Wolk, J, Bhanvi, Patrick Wingrove, Anil D'Silva Organizations: Johnson, Thomson Locations: Europe, United States, Bengaluru, New York

☆ The Executives Who Could Be Johnson & Johnson’s Next CEO
▼ + stars: | 2023-12-04 | by ( Peter Loftus | ) www.wsj.com time to read: 1 min

J&J is one of the best-known healthcare companies in the world, with more than 130,000 employees. Photo: Mark Kauzlarich/Bloomberg NewsThe succession race is on at Johnson & Johnson , after the abrupt departure of a top executive widely believed to have been in line for the healthcare company’s top job. Jennifer Taubert , a no-nonsense veteran who runs J&J’s pharmaceuticals business, and the investor-minded Chief Financial Officer Joseph Wolk are leading contenders for the top job after the surprising exit of J&J’s medical-device head Ashley McEvoy in October, people familiar with the succession race said.

Persons: Mark Kauzlarich, Johnson, Jennifer Taubert, Joseph Wolk, Ashley McEvoy Organizations: Bloomberg, Johnson

☆ Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +9 min

TECHNOLOGY, MEDIA AND TELECOM SECTORMeta Platforms (META.O):The Facebook-parent said it would cut 10,000 jobs, just four months after it let go 11,000 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Workday (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse was planning to cut about 3,000 jobs in the second quarter ended June 30, Reuters reported in May.

Persons: Brendan McDermid, Goldman Sachs, Axios, Pat Gelsinger, Elon Musk, Morgan Stanley, Lazard, Coinbase, cryptocurrencies, Phillips, Johnson, Joseph Wolk, Deborah Sophia, Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, Sourasis Bose, Priyamvada, Tiyashi Datta, Manya Saini, Jaspreet Singh, Maju Samuel, Sriraj Kalluvila, Pooja Desai Organizations: REUTERS, TELECOM, Meta, Facebook, IBM Corp, Spotify Technology SA, Spotify, Microsoft Corp, Intel Corp, Reuters, New York Times, Elon, Cisco Systems, HP, Rivian, Match, Dell Technologies, Technologies, U.S . Central Intelligence Agency, Goldman Sachs, Wall, Citigroup, Bloomberg News, BlackRock, Bed, Dow, Johnson, 3M, Thomson Locations: New, Wall, U.S, York, New Jersey, Bengaluru

☆ Corporate America weighs business impact of new weight-loss drugs
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +4 min

Walmart (WMT.N) expects revenues from its health and wellness products to increase in the second half of the year, mainly due to the popularity of weight-loss drugs. PepsiCo (PEP.O) Chief Financial Officer Hugh Johnston has said the company is "not seeing any impact" yet from the popularity of weight-loss drugs. Coca-Cola (KO.N) CEO James Quincey said the company was monitoring what impact, if any weight-loss drugs will have. Abbott CEO Robert Ford has said diabetes patients could end up using glucose monitors with the weight-loss drugs in the long term. DRUG DISTRIBUTORSCencora (COR.N), formerly called AmerisourceBergen, Cardinal Health (CAH.N) and McKesson (MCK.N) have flagged potential boost to revenues this year owing to the growing demand for weight-loss drugs.

Persons: Victoria Klesty, Eli Lilly's, Eli Lilly's Zepbound, Hugh Johnston, James Quincey, Michele Buck, Dr Pepper, Robert Gamgort, Johnson, Joseph Wolk, Robert Ford, Michael Farrell, Bhanvi Satija, Ananya Mariam Rajesh, Mrigank Dhaniwala, Arun Koyyur Organizations: REUTERS, U.S . Food, Drug Administration, Walmart, PepsiCo, J, Abbott Laboratories, Insulet Corp, Boston Scientific, Cardinal Health, Thomson Locations: Oslo, Norway, Victoria, U.S, GLP, Bengaluru

☆ Corporate America weighs risks of the Ozempic effect
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

Walmart (WMT.N) expects revenues from its health and wellness products to increase in the second half of the year, mainly due to the popularity of weight-loss drugs. PepsiCo (PEP.O) Chief Financial Officer Hugh Johnston has said the company is "not seeing any impact" yet from the popularity of weight-loss drugs. Abbott Laboratories (ABT.N), which makes glucose monitoring products, has said that the market was overestimating the impact to its sales from growing popularity of the drugs. Abbott CEO Robert Ford has said that diabetes patients could end up using glucose monitors with the weight-loss drugs in the long term. DRUG DISTRIBUTORSCencora (COR.N), formerly called AmerisourceBergen, Cardinal Health (CAH.N) and McKesson (MCK.N) have flagged potential boost to revenues this year owing to the growing demand for weight-loss drugs.

Persons: George Frey, Eli Lilly's, Hugh Johnston, Johnson, Joseph Wolk, Robert Ford, Bhanvi, Mrigank Organizations: Novo Nordisk, Pharmacy, REUTERS, Walmart, PepsiCo, Abbott Laboratories, Insulet Corp, Cardinal Health, Thomson Locations: Provo , Utah, U.S, Bengaluru

The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. J&J raised its annual profit forecast, helped by strong sales from its pharmaceutical business, and shares of the U.S. healthcare conglomerate were off about 1%. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, up from its previous view of $10.00 to $10.10. Sales at J&J's medical device unit came in at $7.46 billion, shy of Wall Street estimates of $7.58 billion. J&J finalized the biggest shake-up in its 137-year history in August with the spinoff, but retained a 9.5% stake in its iconic consumer health business.

Persons: Johnson, Yves Herman, J, Vamil Divan, Joseph Wolk, Ozempic, Wolk, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta, Bill Berkrot Organizations: Johnson, REUTERS, Guggenheim Partners, Vamil, Reuters Graphics, J, Thomson, &' $, & $, & $ Locations: Brussels, Diegem, Belgium, Bengaluru, New York

The logo of Johnson & Johnson is seen on a Brussels' office of the company in Diegem, Belgium September 21, 2023. Investors are focused on how J&J, now a standalone pharmaceutical and medical devices company, will reach its goal of $57 billion in drug sales by 2025. Johnson & Johnson recorded a $21-billion gain in the third quarter from the spin-off of its consumer health unit. Stelara, J&J's top-selling anti-inflammatory drug, brought in sales of $2.86 billion in the quarter, above LSEG estimates of $2.61 billion. Excluding its consumer health unit, J&J now expects 2023 adjusted profit of $10.07 to $10.13 per share, compared with its previous outlook of $10.00 to $10.10 per share.

Persons: Johnson, Yves Herman, MedTech, Cantor Fitzgerald, Louise Chen, Stelara, Joseph Wolk, Wolk, J, Bhanvi Satija, Sriparna Roy, Patrick Wingrove, Shounak Dasgupta Organizations: Johnson, REUTERS, Innovative Medicine, Reuters, Thomson, & $, & $ Locations: Brussels, Diegem, Belgium, Stelara, U.S, United States, Bengaluru, New York

☆ Johnson & Johnson CFO Joseph Wolk on Q3 results: Very well-positioned into 2024 and beyond
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJohnson & Johnson CFO Joseph Wolk on Q3 results: Very well-positioned into 2024 and beyondJohnson & Johnson CFO Joseph Wolk joins 'Squawk Box' to discuss the company's quarterly earnings results, which topped quarterly earnings and revenue estimates, and more.

Persons: Johnson, Joseph Wolk Organizations: Johnson

☆ Johnson & Johnson beats on earnings and hikes outlook as medtech, pharmaceutical sales surge
▼ + stars: | 2023-10-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Johnson & Johnson on Tuesday reported adjusted earnings and revenue that topped Wall Street's expectations, and lifted its full-year guidance as sales in the company's pharmaceutical and medical devices businesses surged. Upon that split, J&J lowered its full-year sales and profit guidance. J&J also expects adjusted earnings per share of $10.07 to $10.13, up from a previous forecast of $10.00 to $10.10. The pharmaceutical giant reported net income of $4.31 billion, or $1.69 per share. That was flat compared with net income of $4.31 billion, or $1.62 per share, for the same period a year ago.

Persons: Johnson, J, Joseph Wolk Organizations: LSEG

☆ Focus: Drugmakers go under the skin, skirting early US Medicare price negotiations
▼ + stars: | 2023-07-28 | by ( Michael Erman | ) www.reuters.com time to read: +5 min

Each year, Medicare will add more drugs to the list, the names of which have not yet been disclosed. Faspro, launched in 2020, already accounts for more than 80% of Darzalex revenue, which is due to rise to $9.5 billion this year. Merck previously told Reuters it expects this version of Keytruda could replace the more time consuming infusion for most patients. Keytruda revenue is expected to top $24 billion this year and could exceed $30 billion as soon as 2026, according to analyst estimates. The company has said its expects revenue from subcutaneous drugs containing hyaluronidase to drive its growth going forward.

Persons: Srdjan, Johnson, drugmakers, Bristol Myers, Roche, Biden’s, Michael DiFiore, DiFiore, Joseph Wolk, Faspro, Halozyme, Helen Torley, hyaluronidase, Michael Erman, Patrick Wingrove, Caroline Humer, Bill Berkrot Organizations: U.S, REUTERS, Wall Street, Merck & Co, Halozyme Therapeutics, Reuters, Bristol, Bristol Myers Squibb, Medicare, U.S . Centers, Medicaid Services, J, Reuters Graphics Merck, Merck, Thomson Locations: Ljubljana, Darzalex, Diego

☆ Johnson & Johnson investors can soon swap their shares for Kenvue stock — here's what you need to know
▼ + stars: | 2023-07-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Johnson & Johnson on Thursday said its shareholders will soon be able to swap their shares for stock of Kenvue , which spun out as an independent consumer health company just two months ago. That process, also known as a split-off, will allow J&J shareholders to exchange all or a portion of their shares for Kenvue's common stock. Kenvue shares fell following the announcement Thursday, even though the company beat earnings and revenue estimates in its first quarterly report since its IPO. Previously, J&J did not disclose whether it would divest its Kenvue shares through a split-off or a spinoff. The latter would involve distributing Kenvue stock to existing J&J shareholders rather than giving them the option to exchange.

Persons: Thibaut Mongon, Paul Ruh, Johnson, J, Joseph Wolk, Wolk, J's, CNBC's, Kenvue, Goldman Sachs, JPMorgan Chase Organizations: Kenvue Inc, New York Stock Exchange, JPMorgan Locations: New York City, U.S

☆ J&J CFO Joseph Wolk on Q2 earnings beat: We're in a very strong position for second half of 2023
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJ&J CFO Joseph Wolk on Q2 earnings beat: We're in a very strong position for second half of 2023Johnson & Johnson CFO Joseph Wolk joins 'Squawk Box' to discuss the company's quarterly earnings results, which topped Wall Street’s expectations due to strong sales growth from the company’s medtech business, and more.

Persons: Joseph Wolk, Johnson

☆ Factbox: Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +8 min

read moreSpotify Technology SA (SPOT.N):Music streaming service Spotify is cutting 6% of its workforce, or roughly 600 roles. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. Workday Inc (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse is planning to cut about 3,000 jobs in the second quarter, Reuters reported. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

☆ U.S. bankruptcy judge halts 40,000 Johnson & Johnson talc and cancer lawsuits
▼ + stars: | 2023-04-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

In this photo illustration, a container of Johnson and Johnson baby powder is displayed on April 05, 2023 in San Anselmo, California. A federal bankruptcy judge on Thursday halted roughly 40,000 lawsuits that allege Johnson & Johnson 's baby powder and other talc products caused cancer. Amid the ongoing legal fights, J&J has continued to deny the allegations that its talc products caused cancer. The suits allege J&J's talc products were contaminated with the carcinogen asbestos, which caused ovarian cancer in thousands of individuals. Some lawsuits link several deaths to J&J's talc products.

☆ Johnson & Johnson (JNJ) earnings Q1 2023
▼ + stars: | 2023-04-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Johnson & Johnson shares fell Tuesday after the company reported adjusted earnings and revenue that topped Wall Street's expectations, but lowered its sales guidance for its pharmaceutical business. J&J is now forecasting 2023 sales of $97.9 billion to $98.9 billion, about $1 billion higher than the guidance provided in January. Lawsuits allege the company's talc products were contaminated with the carcinogen asbestos, which caused ovarian cancer in thousands of individuals. Some suits link several deaths to J&J's talc products. Read the full J&J earnings report.

☆ J&J's 2025 drug sales forecast should not be tripping up investors. There's so much else like
▼ + stars: | 2023-04-18 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Johnson & Johnson (JNJ) before-the-bell Tuesday reported a strong first quarter, with sales up more than 5.5% and earnings eking out an annual increase. We're leaning toward the second reason: Management's 2025 Pharmaceutical sales target because J & J's results would have exceeded estimates even without strong vaccine sales. On the post-earning call, management said they see Pharmaceutical sales in 2025 closer to $57 billion than the $60 billion forecast two years ago. While we understand the Street's desire to dig into the 2025 Pharmaceutical sales dynamic, we believe weakness in the stock represents a buying opportunity. That's thanks to increased prices and strong consumer demand, the combination of which speaks to the pricing power of the Johnson & Johnson, soon-to-be Kenvue, brand.

☆ Johnson & Johnson expects no new Covid vaccine revenue, after shots drive earnings beat
▼ + stars: | 2023-04-18 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

International Covid vaccine sales helped spark Johnson & Johnson 's revenue and earnings beat on Tuesday, but the company said it expects no sales from the shot moving forward. That marks the end of a rocky three years for J&J's Covid vaccine despite being one of the first shots to enter the U.S. market during the pandemic. Notably, all Covid vaccine revenue during the quarter came from outside of the U.S. JP Morgan analyst Chris Schott added that J&J's first-quarter beat was in part "driven by Covid vaccine upside." While J&J's vaccine fell out of favor in the U.S. and other wealthy countries, developing countries have continued to rely on it.

Companies Johnson & Johnson FollowApril 18 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday cautioned investors over the lingering impact of inflation-driven costs this year as the healthcare conglomerate issued a conservative full-year profit forecast, and its shares fell more than 2%. J&J also said it expected a steep decline in sales of its blockbuster Crohn's disease drug Stelara once it loses U.S. patent protection in late 2023. J&J, the first large drugmaker and medical device manufacturer to report earnings, raised the midpoint of its full-year profit forecast by 10 cents despite beating first-quarter estimates by 18 cents. A recovery in medical procedures after being weighed down by hospital staffing shortages helped the medical device unit post sales of $7.48 billion, topping analysts' estimates of $7.31 billion. Consumer health sales rose 7.4% to $3.85 billion, surpassing estimates of $3.62 billion, powered by price hikes to offset the impact from inflation.

☆ Factbox: Tech firms, Wall Street titans lead job cuts in corporate America
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +8 min

REUTERS/Lucy Nicholson/File PhotoFeb 8 (Reuters) - Big Tech firms and Wall Street titans are leading a string of layoffs across corporate America as companies look to rein in costs to ride out a global economic downturn. Here are some of the job cuts by major American companies announced in recent weeks. TECHNOLOGY, MEDIA AND TELECOM SECTORIBM Corp (IBM.N):The software and consulting firm said it will lay off 3,900 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

But COVID-19 vaccine sales exceeded diminished expectations and demand for cancer drug Darzalex helped drive the fourth-quarter profit beat. The company reported $689 million in quarterly COVID-19 vaccine sales from outside the United States. J&J said it expects U.S. sales of Stelara to be flat to lower in 2023 due to competition from less expensive biosimilars in certain regions. It forecast adjusted 2023 earnings of $10.45 to $10.65 per share, above analysts' estimates of $10.35. Excluding items, J&J earned $2.35 per share for the quarter, topping analysts' estimates by 12 cents, according to IBES data from Refinitiv.

Organizations: & $

☆ Johnson & Johnson CFO Joseph Wolk on supply challenges of Tylenol, Motrin
▼ + stars: | 2023-01-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJohnson & Johnson CFO Joseph Wolk on supply challenges of Tylenol, MotrinJohnson & Johnson CFO Joseph Wolk joins 'Squawk Box' to discuss his outlook for the year ahead, the drivers for the company's business, and more.

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