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☆ These are JPMorgan’s highest conviction stock picks over the next 12 months
▼ + stars: | 2024-05-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Specifically, analyst Chris Schott called Eli Lilly one of his highest conviction opinions. Analyst Harlan Sur noted that one of his top picks includes semiconductor manufacturer Broadcom , which has rallied 25% in 2024. In the report, the bank also highlighted data centers as an area that investors should watch. As demand grows for data centers, beneficiaries could include stocks such as Vertiv , up an eye-watering 106% in 2024, which is one of analyst Steve Tusa's highest conviction picks in the electrical equipment industry. Other stocks JPMorgan listed in the report include Delta Airlines and Carvana .

Persons: Chris Schott, Eli Lilly, Harlan Sur, Steve Tusa's, Rajat Gupta, — CNBC's Michael Bloom Organizations: JPMorgan, Dow Jones, Major Pharma, Broadcom, Delta Airlines

☆ Amgen, newer rivals could threaten Novo Nordisk and Eli Lilly's weight loss drug dominance
▼ + stars: | 2024-05-07 | by ( Scott Olson | Getty Images | ) www.cnbc.com time to read: +10 min

Amgen is among the leaders of a pack of drugmakers racing to join the market with their own weight loss treatments. Amgen's drug, MariTide, is taken less frequently than Novo Nordisk's Wegovy and Eli Lilly's Zepbound, and may cause longer-lasting weight loss than the market leaders' injections. Novo Nordisk and Eli Lilly are also working on new weight loss drugs. The competition for a slice of the weight loss market has only grown more fierce in recent months. An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023.

Persons: NOVO.B, Scott Olson, Eli Lilly, Nordisk's Wegovy, Eli Lilly's Zepbound, Amgen, William Blair, Matt Phipps, Bob Bradley, Boehringer Ingelheim, Phipps, Zepbound, Chris Schott, MariTide, Mario Tama, he's, Eli Lilly drugs, CagriSema, Eli Lilly’s, Brendan McDermid, Boehringer, Ingelheim, survodutide, Pascal Soriot, Christopher Furlong, dealmaking, David Denton Organizations: New, Halstead Pharmacy, Getty, Novo Nordisk, Nordisk's, William Blair & Company, CNBC, Therapeutics, AstraZeneca, Zealand Pharma, MariTide, Reuters, GLP, Pfizer, Eccogene Locations: Chicago , Illinois, Novo, Amgen, Thousand Oaks , California, New York City, U.S, Zealand, Macclesfield

☆ Healthy Returns: Eli Lilly, Novo Nordisk make progress toward boosting weight loss drug supply
▼ + stars: | 2024-05-07 | by ( Eduardo Munoz | ) www.cnbc.com time to read: +3 min

A highly popular group of weight loss and diabetes drugs is still hard to find in the U.S. The dominant manufacturers of those treatments, Eli Lilly and Novo Nordisk , are making progress toward changing that. Patients using current autoinjectors for weight loss and diabetes drugs go through four different pens per month. Eli Lilly expects supply for Zepbound, Mounjaro and other incretin drugs to remain "quite tight" in the near- to mid-term as demand remains high, Ashkenazi said. On the day Eli Lilly reported earnings, shares of the company jumped more than 5% on the raised guidance and supply updates.

Persons: Eli Lilly, Anat Ashkenazi, There's, Ashkenazi, David Ricks, —, Lilly, Chris Schott Organizations: U.S, Novo Nordisk, Nexus Pharmaceuticals, JPMorgan Locations: North Carolina, Indiana, Ireland, Germany, Europe, U.S

☆ FDA approves Merck's drug for rare, deadly lung condition
▼ + stars: | 2024-03-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

The Food and Drug Administration on Tuesday approved a drug from Merck designed to treat a progressive and life-threatening lung condition in a win for both the drugmaker and for patients suffering from the rare disease. The condition refers to when the small blood vessels in the lungs narrow. He noted that the drug will be a "paradigm shift" for patients living with PAH. That includes reducing the risk of death or worsening of the condition by 84% compared to an existing drug alone. Those trials include late-stage studies on patients with more advanced PAH disease, and those who are within the first year after diagnosis.

Persons: Chris Schott, Eliav Barr, PAH, Barr, Merck Organizations: Merck, Drug Administration, JPMorgan, CNBC, Acceleron Pharma Locations: Rahway , New Jersey, U.S, Winrevair

☆ Pfizer is betting big on cancer drugs to turn business around after Covid decline – here's what to know
▼ + stars: | 2024-03-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.

Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California

☆ Elanco's $1.3 billion deal may give the animal health company more flexibility as product launches ramp up
▼ + stars: | 2024-02-06 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

Elanco Animal Health's decision to sell its aqua division will narrow its focus on pet health and livestock sustainability, as management prepares to launch several new products this year. ELAN 1Y mountain Elanco stock over the past year. One area it identified is pet health, a $15 billion market that has benefited from increasing pet ownership, especially among people who see their pets as family and value their animals' health care. 'Flexibility' to invest behind launches The product launches will also give Elanco a chance to prove itself. The pet health business is very competitive and, once approved, Zenrelia will compete directly with rival Zoetis' Apoquel.

Persons: Elanco, Jeff Simmons, Simmons, Credelio, Cornell University's Richard P, FactSet, Chris Schott, ELAN, Schott, Jefferies, Glen Santangelo, Eli Lilly, Jasper Hellweg, Hellweg, Zenrelia, Zoetis, — CNBC's Michael Bloom Organizations: Merck, CNBC, ELAN, Riney Canine Health, JPMorgan, Argus Locations: U.S

☆ Big pharma is at a crossroads, as J&J, Merck and others prepare to lose heaps of revenue from blockbuster drugs
▼ + stars: | 2024-01-28 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +12 min

Bristol Myers Squibb's Eliquis is a blood thinner used to prevent clotting, to reduce the risk of stroke. Bristol Myers Squibb's Opdivo is an immunotherapy used to treat cancers, including melanoma and lung cancer. Investors will get updates on Merck and Bristol Myers Squibb's plans for the years ahead when they report earnings on Thursday and Friday, respectively. That's unlike generics, which are cheaper copycats of small-molecule drugs like Bristol Myers Squibb's Eliquis. Bristol Myers Squibb is also testing a new form of Opdivo, which is currently administered into a patient's veins.

Persons: Johnson, William Blair, Matt Phipps, Bristol Myers, Johnson's, Merck's Keytruda, J's Stelara, Opdivo, Phipps, biosimilars, Eliquis, Biosimilars, Humira, JB Reed, Samsung's, Piper Sandler, Christopher Raymond, AbbVie, Raymond, Chris Schott, Schott, Robert Davis, Keytruda, Davis, JPMorgan's Schott, Bristol Myers Squibb, George Frey, J, Amgen, J confidentially, Mike Perrone, It's, Anna Moneymaker Organizations: New York Stock Exchange, Johnson, NYSE Big, Bristol Myers Squibb, Merck, Biden, William Blair & Company, CNBC, Guggenheim, Bristol, Leerink Partners, Bloomberg, Getty, Bioepis, JPMorgan, JPMorgan Health Care, Moderna, Bristol Myers, Karuna Therapeutics, Hardy, Huntsman Cancer Institute, University of Utah, Reuters, Teva Pharmaceuticals, Pharma, U.S . Department of Health, Human Services Locations: drugmakers, EY, Europe, U.S, Cambridge , Massachusetts, Arda, EY's Americas, Bristol, Salt Lake City , Utah, Washington , DC

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 28, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - The EU is falling behind Britain in tapping into savers' money to boost the stock market, despite reforms in continental Europe being a step in the right direction, an official with Germany's bourse told Reuters. For Maassen there is an opportunity in Europe to rival US capital markets. Maassen urged policymakers to speed up the implementation of the Capital Markets Union, a longstanding project to create a single market for capital beyond national borders. Earlier this month, European Central Bank President Christine Lagarde called for a capital markets union, with a single supervisor and trading infrastructure, to finance its digitalisation and green transition.

Persons: Stefan Maassen, Jeremy Hunt, Hunt, ThyssenKrupp, Maassen, Germany's, Christine Lagarde, Lagarde, Pablo Mayo Cerqueiro, Anousha Sakoui, Christina Fincher Organizations: REUTERS, Staff, Germany's bourse, Reuters, Capital Markets, Deutsche, Frankfurt Stock Exchange, Schott Pharma, OLB Bank, DKV, New York Stock Exchange, EU, Capital Markets Union, European Union, European Central Bank, ., Thomson Locations: Frankfurt, Germany, EU, Europe, we're, U.S

☆ Lilly trades at a premium to Ozempic-maker Novo as obesity drugs boom. Here's why, analyst says
▼ + stars: | 2023-11-10 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +6 min

Does Eli Lilly deserve to trade at a premium to Novo Nordisk shares? LLY YTD mountain Eli Lilly shares since the start of the year. According to Shin, Lilly deserves a premium to Novo Nordisk because its portfolio is more diverse and it has less exposure to insulin. NVO YTD mountain Novo Nordisk shares year to date In the coming weeks, Lilly will start rolling out Zepbound to patients. Novo Nordisk is scheduled to release the full results of its Select cardiovascular trial at the American Heart Association conference.

Persons: Eli Lilly, James Shin, Shin, Lilly, We're, Lilly's, Zepbound, Wegovy, Chris Schott, Karsten Munk Knudsen, Novo, Schott, AstraZeneca, Eccogene, David Ricks, — CNBC's Michael Bloom Organizations: Novo Nordisk, Deutsche Bank, Biotech, Pharma, Centers for Disease Control, Novo, CNBC, American Heart Association Locations: U.S, GLP, Novo, Denmarkt

☆ How Novo Nordisk makes its weight-loss drug Wegovy
▼ + stars: | 2023-11-01 | by ( Maggie Fick | ) www.reuters.com time to read: +3 min

[1/2] A 0.25 mg injection pen of Novo Nordisk's weight-loss drug Wegovy is shown in this photo illustration in Oslo, Norway, August31, 2023. REUTERS/Victoria Klesty/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 1 (Reuters) - Novo Nordisk (NOVOb.CO) is spending billions of dollars to boost output and ease shortages of its hugely popular, highly effective weight-loss medicine Wegovy. FILL-FINISHNovo has hired Catalent (CTLT.N), a large U.S. contract drug manufacturer, to fill injection pens for Wegovy at two of that company's plants: in Brussels and in Bloomington, Indiana. Novo has also hired another U.S. firm, Thermo Fisher (TMO.N), as a Wegovy pen filler. COMPONENTSThe Wegovy injection pens for the U.S. market slightly differ from those sold in the European markets including Norway, Denmark, Germany and UK, where it has so far launched.

Persons: Victoria Klesty, Catalent, Novo, Wegovy, Maggie Fick, Josephine Mason, Tomasz Janowski Organizations: REUTERS, Novo Nordisk, U.S, Novo, Reuters, PCI Pharma Services, autoinjectors, West Pharmaceutical Services, Stevenato, SCHOTT Pharma, Thomson Locations: Oslo, Norway, August31, Victoria, Danish, Novo, Denmark, U.S, Brussels, Bloomington , Indiana, Greenville , North Carolina, Greenville, Germany, Europe, Swiss

That was until this week, when the company decided to pull its listing in the final hours of Wednesday, blaming market conditions. In the coming weeks, a string of European companies are slated to come to market. Among them is CVC Capital Partners, which is still planning a November listing depending on market conditions, a person with knowledge of the matter told Reuters. However, the fate of Renk highlights the challenges facing new issuers, exacerbated by a recent bout of volatility in equity and debt markets. On Thursday it was trading around its opening IPO price at 30 euros, still above its issue price, a positive sign.

Persons: Andreas Bernstorff, Germany's DAX, Susanne Wiegand, Schott, Perfumery, Douglas, Emma, Victoria Farr, Pablo Mayo Cerqueiro, Alexander Huebner, Anousha Sakoui Organizations: Capital Partners, Reuters, Equity Capital Markets, BNP, Renk, Rheinmetall, Schott Pharma, DKV, CVC Capital Partners, Paris bourse, Thomson Locations: FRANKFURT, LONDON, Frankfurt, U.S, Europe, East, Africa, European, Germany, York, Lincoln

☆ German defense contractor postpones IPO on eve of debut
▼ + stars: | 2023-10-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

German defense contractor Renk on late Wednesday announced it would indefinitely postpone its initial public offering on the Frankfurt Stock Exchange scheduled for the following morning. "In the past days, the market environment has clouded noticeably," the company said in a statement, providing no further details. Shares were set to be offered in a price range between 15 euros ($15.77) and 18 euros, with a total placement volume between 405 million and 486 million euros. It reported an increase in audited gross profit from 124.5 million euros to 164.8 million euros in the fiscal year ending on Dec. 31 2022. European bourses had a mixed first half of the year, with funds raised through listings on the Paris Stock Exchange plunging 92%, while the London Stock Exchange held steady.

Persons: Renk, Susanne Wiegand, bourses, Susannah Streeter, Hargreaves Lansdown Organizations: Frankfurt Stock Exchange, CNBC, Triton, Reuters, Paris Stock Exchange, London Stock Exchange, Schott Pharma, Hargreaves Locations: Augsburg, Germany, Ukraine, Frankfurt

"We're definitely seeing a bit of a soft open in the IPO market", said Lizzie Reed, global head of the ECM syndicate desk at Goldman Sachs. Arm and Instacart shares briefly fell below their issue price, suggesting there is still some way before the IPO market fully recovers. Medical glass producer Schott Pharma (1SXP.F) debuted on the Frankfurt Stock Exchange on Thursday, with shares closing 16% above the IPO price. Klaviyo's shares are now trading at a 21% premium to their IPO price. "For the IPO market to open more broadly in the first quarter in 2024 ... we need the 2023 IPO cohort to continue to perform well," said Josh Weismer, head of U.S. ECM, Mizuho Americas.

Persons: Lizzie Reed, Goldman Sachs, IPOs, Robert Stowe ,, Suneel Hargunani, Schott, ThyssenKrupp, Hidrolectrica, Ross Devor, ”, Samir A, Gandhi, Stephane Gruffat, SoftBank, Josh Weismer, Echo Wang, Pablo Mayo, Anousha Sakoui, David Holmes Organizations: Bankers, ECM, Arm Holdings, Barclays, Citigroup, Schott Pharma, Frankfurt Stock Exchange, Thoma Bravo, Deutsche Bank, Nvidia, Apple, Qatar Investment Authority, U.S, Mizuho, Pablo Mayo Cerqueiro, Thomson Locations: United States, Europe, British, New York, U.S, IPOs, East, Africa, Romanian, Qatar, Mizuho Americas, London

☆ Schott Pharma CEO discusses IPO
▼ + stars: | 2023-09-28 | 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 EmailSchott Pharma CEO discusses IPOSchott Pharma CEO Andreas Reisse speaks to CNBC's Annette Weisbach on the company's IPO.

Persons: Andreas Reisse, CNBC's Annette Weisbach Organizations: Schott Pharma

☆ Schott Pharma shares climb in Frankfurt debut
▼ + stars: | 2023-09-28 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Schott Pharma debuted on the Frankfurt stock exchange on Thursday at 30 euros per share, trading well above analyst expectations. Shares of the company were up 10% in the first minutes. Schott Pharma said sales were up 8.4% year-on-year for the first nine months of the 2023 fiscal year, hitting 670 million euros ($704 million) over the period. Schott Pharma has production and sales units across 33 countries. The Schott Pharma IPO is only the third new listing on the Frankfurt stock exchange this year and is expected to be the largest.

Persons: Andreas Reisse Organizations: Schott Pharma, Moderna Locations: Frankfurt

It follows Russia's invasion of Ukraine and the loss of Moscow's cheap natural gas — an unprecedented shock to Germany’s energy-intensive industries, long the manufacturing powerhouse of Europe. The loss of cheap Russian natural gas needed to power factories “painfully damaged the business model of the German economy,” Kullmann told The Associated Press. One hotly debated solution: a government-funded cap on industrial electricity prices to get the economy through the renewable energy transition. However, squabbling among the coalition government over the energy price cap and a law barring new gas furnaces has exasperated business leaders. “The perception of Germany's underlying strength may also have contributed to the misguided decisions to exit nuclear energy, ban fracking for natural gas and bet on ample natural gas supplies from Russia,” he said.

Persons: “, Christian Kullmann, Kullmann, ” Kullmann, Evonik, Robert Habeck, Chancellor Olaf Scholz, Angela Merkel, —, Biden, Scholz, Evonik's Kullmann, Gerhard Schroeder, Holger Schmieding, ”, ” Schmieding, Schmieding Organizations: Jobs, International Monetary Fund, European Union, Evonik Industries, Associated Press, Greens Party, Social Democrat, Free Democrats, Companies, Schott AG, ” Locations: ESSEN, Germany, Ukraine, Europe, Europe's, Essen, Russia, Moscow, China, Bavarian, U.S, Lafayette , Indiana, Brussels, Berlin, Chile, Qatar, ” Germany, Berenberg

☆ Meet the 91-year-old grandfather booking major fashion campaigns
▼ + stars: | 2023-07-04 | by ( Jacquelyn Palumbo | Jacqui Palumbo | ) edition.cnn.com time to read: +5 min

Celine van HeelCNN —He’s louche and sun-kissed, effortlessly cool and 91 years old. Today, with a sizable social media following and major campaigns for Zara and adidas under his belt, The Spanish King is one of the oldest working models in Europe. Celine van Heel began photographing her grandfather while staying with him during Covid-19 lockdowns. “His look, the way he looks at the camera — it’s simple, but it really defines him,” van Heel said of the image. Van Heel believes her grandfather is the perfect example of why no one should feel the need to act their age.

Persons: Celine van Heel, He’s, Carro —, Caro, “, ” van Heel, Celine, ”, Celine van, van, Garcia, ” Schott, Van Heel, she’s, “ He’s, …, Heel, Carro, Van, —, he’s, tans, ” Van Heel, Carmen Dell’Orefice, Guo, Iris Apfel Organizations: Schott NYC, Celine van Heel CNN, Zara, adidas, Gran Canaria, moto, Schott Locations: Spanish, Europe, Covid, Spain, Argentina, Uruguay, Zara, Paris

☆ Eli Lilly's weight loss drugs trounce sky-high expectations, boosting the stock
▼ + stars: | 2023-06-27 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +5 min

What's more, some showed no signs their weight loss was leveling off, suggesting they could continue to shed pounds. (Both use semaglutide, but Ozempic is marketed as a type 2 diabetes treatment, while Wegovy is primarily for weight loss.) Bank of America's Geoff Meacham said retatrutide "exceeded expectations" for weight loss. "This is important, as while the overall 22.4% weight loss was impressive, looking at men and women separately, weight loss was 21.9% and 28.5%, respectively, with the slope in females not yet plateauing. Schott also described the weight loss as "impressive" and said it will likely compare favorably with Novo's next-generation drug CagriSema, which is expected to show weight loss of more than 25% when it releases its next update.

Persons: Eli Lilly, What's, Lilly, Lilly's, Carter Gould, Gould, orforglipron, Bank of America's Geoff Meacham, retatrutide, Meacham, Chris Schott, Schott, Novo's, Evan David Seigerman, Seigerman, Morgan Stanley, Terence Flynn, — CNBC's Michael Bloom Organizations: American Diabetes Association, Wall, Novo Nordisk, Barclays, Bank of America's, JPMorgan, Lilly, BMO Capital, Indianapolis, ~$ Locations: Novo

☆ Six Dead After Dust Storm Causes Crashes on Interstate 55 in Illinois
▼ + stars: | 2023-05-01 | by ( Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

Six people were killed and more than 30 people were injured in crashes caused by “excessive winds” that blew dust from nearby farms onto Interstate 55 in a rural section of central Illinois, on Monday morning, leading to “zero visibility” conditions, the Illinois State Police said. The crashes, which took place just before 11 a.m. in Farmersville, Ill., south of Springfield, involved about 20 commercial vehicles and 40 to 60 cars, including two tractor-trailers that caught fire, the police said in a statement. The people injured were between 2 and 80 years old, and their injuries ranged from minor to life-threatening, the authorities said, noting that it had been difficult to extract people from their vehicles, some of which were engulfed in flames. “This is a difficult scene, something that is very hard to train for something that we really haven’t experienced locally,” Kevin Schott, the director of Montgomery County’s emergency management agency, said at a news conference on Monday.

☆ Illinois dust storm causes car crashes, at least 6 fatalities along I-55 in Montgomery, Sangamon counties
▼ + stars: | 2023-05-01 | by ( Joe Sutton | ) edition.cnn.com time to read: +3 min

CNN —At least six people were killed after a dust storm caused dozens of vehicles to crash along a major highway in Central Illinois on Monday, officials said. The crashes along I-55 led to the interstate closing in Sangamon and Montgomery counties after police say dust from newly plowed fields took over the highway. Illinois State Police Maj. Ryan Starrick said there were at least six dead and more than 30 people were hospitalized with injuries ranging from minor to life-threatening. He said the interstate in southern Sangamon and northern Montgomery counties would remain closed as officials investigate and clear vehicles. The National Weather Service in Lincoln, Illinois, issued a “blowing dust warning” at 1:25 p.m. CT.“Severely limited visibilities are expected.

☆ Obesity is a chronic disease. It's why treating it will be so profitable unless payers push back
▼ + stars: | 2023-04-30 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +9 min

Lilly manufactures tirzepatide, which is sold under the brand name Mounjaro as a type 2 diabetes treatment. It's the chronic nature of obesity that will make these drugs so profitable, analysts have said. Huynh increased his target due to higher expectations for Mounjaro sales this year. Huynh boosted his prediction for the drug's sales this year to $3.7 billion from an prior estimate of $2.7 billion. "$48 billion is a monster number," Holz said, referring to an annual sales estimate that Bank of America has floated for future Mounjaro sales.

☆ 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.

☆ J&J rises as $9 bln talc lawsuit settlement eases overhang on unit spinoff
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

[1/2] A bottle of Johnson and Johnson Baby Powder is seen in a photo illustration taken in New York, February 24, 2016. Some analysts were positive about the new settlement that is far bigger than the original offer of $2 billion, as they believe it could bring an end to the lawsuit. J.P. Morgan analyst Chris Schott said in a note the settlement amount was in-line with the brokerage's estimate of $8 billion to $10 billion. "We believe today's announcement should help the IPO of 20% of the consumer unit," Credit Suisse analyst Trung Huynh said in a note. "Overall, we believe the proposed settlement has vast support by the plaintiff supermajority and the top 18 law firms representing the claimants," Jennings said.

☆ J&J rises as $8.9 bln talc lawsuit settlement eases overhang on consumer unit spinoff
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

☆ Johnson & Johnson shares rise after company proposes baby powder cancer settlement
▼ + stars: | 2023-04-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Johnson & Johnson shares on Wednesday climbed after the company proposed paying $8.9 billion to settle thousands of claims that its baby powder and other talc products caused cancer. The pharmaceutical giant also said its subsidiary LTL Management refiled for Chapter 11 bankruptcy protection after its first attempt faced legal challenges. JPMorgan analyst Chris Schott on Thursday called the proposed settlement a positive for the company in a note. The proposed $8.9 billion settlement is also in-line with JPMorgan's $8 billion to $10 billion estimate, Schott noted. It's also unclear whether the proposed settlement will win approval in bankruptcy court, Bank of America analyst Geoff Meacham noted Thursday.

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