Hints and tips:
...“Many of the medicines selected for price setting already have significant rebates and discounts due to the robust private market negotiation that [already] occurs,” said Stephen J Ubl, Phrma chief executive...
...Chris Rossbach, a fund manager at J Stern & Co, said it had voted in favour of Disney’s board recommendations....
...Still, US bankruptcy Judge Michael Kaplan said the court remained “sceptical” about J&J’s prospects of finalising an agreement, as it makes a second attempt to resolve the lawsuits through a controversial...
...J&J reported earnings of $2.80, which were significantly above analyst expectations....
...Janssen is the pharmaceutical division of J&J....
...J&J had created a $2bn fund to compensate victims under its previous legal strategy....
...It follows the US Court for Appeals ruling in January that shot down J&J’s attempt to implement a complex bankruptcy scheme called the “Texas-two step” to manage the claims....
...J&J said it stood behind the safety of its talcum powder and would immediately move for a stay of the Third Circuit Court’s opinion and also seek a review from the US Supreme Court....
...Merck, BMS, J&J, Novartis and some trade groups have launched a legal broadside against them, filing lawsuits in several different courts across the US....
...J&J could not be immediately reached for comment on the Kenvue offering....
...Here’s the FT’s US pharmaceuticals correspondent Jamie Smyth. Jamie SmythA woman named Jacqueline Fox files a personal injury lawsuit against J&J....
...In March a judge dismissed J&J’s first attempt to use the bankruptcy courts to manage claims that its talcum powder could cause cancer....
...J&J’s consumer business, which is due to be spun off this year and renamed Kenvue, reported worldwide adjusted operational sales grew 3.9 per cent....
...The Third US Circuit Court of Appeals on Monday said it had dismissed the bankruptcy filing of J&J’s division LTL management, preventing the company from shifting thousands of legal claims out of trial courts...
...Under this strategy J&J had created a $2bn fund to compensate victims....
...J&J shares fell 2.8 per cent on Tuesday....
...“The odds that we wake up and see a J&J or Lilly do something big like buying Alnylam, Incyte or Vertex goes down from where it would have been,” said Stifel’s Opler....
...J&J denies the claims but has offered plaintiffs an $8.9bn settlement, which would be paid over 25 years....
...claims target J&J’s new consumer carve-out On Twitter, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07) Read a transcript of this episode on FT.com...
...J&J hired Jones Day, a Cleveland-based law firm and author of the “Texas two-step”....
...Most notably it all comes together in Joshua Reynolds’ magnificent 1776 portrait of Mai, recently acquired jointly with the J Paul Getty Museum for £50mn....
...J&J said it would appeal against the decision. “Resolving this matter as quickly and efficiently as possible is in the best interests of claimants and all stakeholders,” J&J said....
...The Bestwall motion cites the J&J ruling, saying it makes clear that financial distress is the first inquiry made before a company receives the benefits of bankruptcy....
...Jamie Dimon, the JPMorgan Chase chief executive who had steered the bank through the 2008 financial crisis, was the industry architect of a $30bn rescue of First Republic, the FT reports....
...on money laundering by placing liability on lawyers, accountants and other such “gatekeepers” who turn a blind eye, Perkins Coie partner Jamie Schafer writes in an FT op-ed....
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