|Bid||142.80 x 800|
|Ask||143.11 x 800|
|Day's Range||141.43 - 142.87|
|52 Week Range||109.16 - 157.00|
|Beta (5Y Monthly)||0.70|
|PE Ratio (TTM)||22.22|
|Earnings Date||Jul 16, 2020|
|Forward Dividend & Yield||4.04 (2.84%)|
|Ex-Dividend Date||May 22, 2020|
|1y Target Est||164.24|
Market participants are bracing for the start of what will likely be the weakest corporate earnings season since the global financial crisis, as the coronavirus pandemic and measures to contain it hit business activity especially hard in the second quarter.
Biotech stocks advanced in the week ended July 10 amid mixed news flow emerging out of the sector.FDA approved a few drugs, including Endo International PLC's (NASDAQ: ENDP) cellulite treatment, while Merck & Co., Inc. (NYSE: MRK)-Eisai Co., Ltd's (OTC: ESALY) combo therapy was rejected by the FDA as a first-line treatment option for liver cancer.Unum Therapeutics Inc (NASDAQ: UMRX) was the biggest gainer for the week, with the shares reacting to an acquisition and fund buying. In major COVID-19 updates, Novavax, Inc. (NASDAQ: NVAX) announced $1.6 billion federal funding for its coronavirus vaccine program.The week also saw three biotechs testing the IPO waters. The three issues raised a combined $583.7 million from the offerings.View more earnings on IBBHere are the key catalysts for the unfolding week.Conferences Annual Biomarkers for Alzheimer's Disease Summit (digital event): July 15PDUFA Dates The FDA is set to rule on Verrica Pharmaceuticals Inc's (NASDAQ: VRCA) NDA for VP-102, a topical solution, being reviewed as a potential treatment option for molluscum contagiosum. Updating on the regulatory review, the company said in late June it received a letter from the FDA stating there are deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time. The PDUFA date is set for Monday.Adcom Meetings FDA's Oncologic Drugs Advisory Committee will discuss GlaxoSmithKline plc's (NYSE: GSK) biologic license application for belantamab mafodotin for the treatment of adults with relapsed or refractory multiple myeloma who have received at least four prior therapies including an anti-CD38 monoclonal antibody, a proteasome inhibitor, and an immunomodulatory agent. The drug linker technology for the product candidate was licensed from Seattle Genetics, Inc. (NASDAQ: SGEN). (Tuesday)The Cardiovascular and Renal Drugs Advisory Committee is scheduled to discuss Mallinckrodt PLC's (NYSE: MNK) new drug application for terlipressin, lyophilized powder for solution for injection, for the proposed indication of treatment of hepatorenal syndrome Type 1. (Wednesday)Related Link: Gilead's Remdesivir Data Shows Improved Clinical Recovery, Reduced Death RateClinical Readouts/Presentations Gritstone Oncology Inc (NASDAQ: GRTS) is scheduled to present data from the ongoing Phase 1 studies of its immunotherapy product candidates GRANITE and SLATE. The company also said it would discuss Phase 2 study plans. (Monday)INmune Bio Inc (NASDAQ: INMB) will report interim data from its Phase Ib clinical study of XPro1595 in Alzheimer's disease. (Tuesday)Cassava Sciences Inc (NASDAQ: SAVA) said its lead neuroscientist, Lindsay Burns will give a keynote presentation at the Biomarkers for Alzheimer's Disease Summit, with the presentation focusing on SavaDx, the company's investigational diagnostic to detect Alzheimer's disease with a simple blood test. (Wednesday)Earnings * Abbott Laboratories (NYSE: ABT) (Thursday, before the market open) * AngioDynamics, Inc. (NASDAQ: ANGO) (Thursday, before the market open) * Johnson & Johnson (NYSE: JNJ) (Thursday, before the market open)IPOs Cambridge, Massachusetts-based Relay Therapeutics has filed with the SEC for offering 14.7 million shares to be priced between $16 and $18. Repare is a clinical-stage precision medicine company transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology. The company has applied for listing its shares on the Nasdaq under the ticker symbol RLAY.IPO Quiet Period Expirations * Repare Therapeutics Inc (NASDAQ: RPTX) * Progenity Inc (NASDAQ: PROG) * Genetron Holdings Ltd - ADR (NASDAQ: GTH) * Forma Therapeutics Holdings Inc (NASDAQ: FMTX)See more from Benzinga * The Daily Biotech Pulse: Ziopharm Starts Blood Cancer Study, Allergan's Botox Gets Label Expansion, 3 IPOs * The Daily Biotech Pulse: FDA Nod For Osmotica, OptiNose Strikes Co-promotion Deal, Orphan Drug Designation For AnaptysBio * Intersect ENT Rips Higher On Medtronic M&A Rumor(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Johnson & Johnson (NYSE: JNJ) has been a leader in the pharmaceutical industry for over 130 years. With a vast product portfolio and a 2.8% dividend yield, the stock remains popular with income investors despite a history of modest year-over-year gains.
Moderna (NASDAQ: MRNA) has a date with Congress. Officials from those companies will field questions from the committee's oversight and investigations subcommittee on the current state of their vaccine development processes.
The last piece of news from iBio (NYSEMKT:IBIO) was the June 26 press release letting investors know that IBIO stock had been added to the Russell 2000 and Russell 3000 indexes as part of FTSE Russell's annual reconstitution process. Source: Shutterstock The company's shareholders are undoubtedly hoping that its addition to the Russell 1000 isn't too far away. However, for now, this will have to do. Who's Betting on IBIO StockIn my last article about the company in late May, I wrote about the relationship between iBio and Lincoln Park Capital, a Chicago-based investment firm. To this day, I know very little about the organization. And frankly, given all the speculation driving biotechs these days, I don't care to know.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The 7 Best Stocks to Invest in Right Now As my late father-in-law used to say when my wife and I first started dating: "I've seen so many come, and so many go, I'm not going to bother learning his name until I know he's sticking around."That man had some fantastic one-liners; I miss him immensely. But I digress. The reason I mentioned iBio's addition to the indexes is that it shows how little investors know about what's happening behind the scenes at iBio's vaccine central. There's a shortage of information available. Navellier Likes Its ChancesSure, my InvestorPlace colleague, Louis Navellier, had a bunch to say recently about the company's lichenase booster molecule, or LicKM for short. It could be the pathway to a single-dose novel coronavirus vaccine. At this point of the conversation, you offer to sell me Florida swampland, because if I'm buying iBio based on something sounding weirdly similar to Lik-M-Aid, the candy I devoured as a kid, I deserve to be taken to the cleaners.Navellier's been writing about stocks a lot longer than I have, so I'm confident he's done his homework. However, I'm also convinced that I have no possible way of confirming whether this is a home run or foul ball behind home plate. A margin of safety is always in the back of my mind. If you told me that I could only invest in one vaccine candidate's stock, iBio would not be it. Probably not even in the top five. But, I'm also willing to admit that my understanding of biotechnology is only slightly better than my comfort discussing quantum physics. All I really know about Moderna (NASDAQ:MRNA) is that its executives are making out like bandits -- CEO Stephane Bancel has sold over $21 million since January and Tal Zaks, its chief medical officer, has sold more, netting $35 million in 2020 -- but beyond that, the company, like iBio, is in a race against time. Maybe it wins, maybe it doesn't.It sounds a lot like Vegas to me. One thing I did mention in my last article about iBio is that unless you're a speculator, you've got safer options."[A]s I said in March, unless you know a lot about health care, you're wiser to put any bet you make on something like Pfizer (NYSE:PFE) or Johnson & Johnson (NYSE:JNJ), whose entire future isn't tied up in the vaccine's success or failure," I wrote May 27. A Safer OptionNothing's changed in that regard, which is why I believe you might want to consider investing in the ETFMG Treatments Testing and Advancements ETF (NYSEARCA:GERM), a fund that tracks the performance of the Prime Treatments, Testing and Advancements Index, a passive index of U-S.-listed companies involved in R&D, vaccines, therapies and testing technologies. The ETF itself only launched in mid-June. It's from the same people who brought investors the ETFMG Alternative Harvest ETF (NYSEARCA:MJ), a fund focused on the cannabis industry. At 0.68%, GERM's management expense ratio isn't cheap, but it gets the job done, which is to lay down a bet on Covid-19. The fund's top three holdings are Novavax (NASDAQ:NVAX), Alnylam Pharmaceuticals (NASDAQ:ALNY), and Moderna, weighted at 6.95%, 5.85%, and 4.95%, respectively. Ibio's farther down the 56 holdings with a weighting of just 0.40%. However, by eliminating the company-specific risk, you give yourself a much better chance of benefiting from a vaccine solution.But, as I said earlier, I'm never going to be confused with Dr. Fauci. Will Ashworth has written about investments full-time since 2008. Publications where he's appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post A Safer Way to Play IBio Stock Could Spread Like the CoronavirusÂ appeared first on InvestorPlace.
Will Inovio (NASDAQ:INO) and INO stock explode, or is its run over? Creating vaccines requires massive resources. Thus, questions regarding the ability of smaller biotech companies to compete with their better-heeled and more experienced adversaries have persisted. Yet, the potential return on smaller biotech companies was and perhaps remains too tempting.Source: Ascannio / Shutterstock.com Reports that government scientists are having trouble running trials with Moderna (NASDAQ:MRNA) don't bode well for smaller biotech companies pursuing a vaccine. That much larger drug makers like Johnson & Johnson (NYSE:JNJ) have not received such complaints is telling. This points to the sophistication and advanced nature of the large drug makers' Covid-19 programs. Perhaps they are simply better versed in cooperating with the government. Nevertheless, investors should recognize the risk these smaller biotech stocks represent. Inovio may yet receive government funding and explode.InvestorPlace - Stock Market News, Stock Advice & Trading Tips A Reversal of Fortune at Inovio?Barron's reports a reversal of analyst sentiment regarding Inovio within the past month. One month ago the tally was five "buys," three "holds", and no "sells." Consensus was that the stock was overweight at that time. However, the current tally is two "buys," five "holds," and one "sell" with the consensus being to hold it. * The 7 Best Stocks to Invest in Right Now Investors should bear this change of sentiment in mind given recent news concerning Novavax (NASDAQ:NVAX) and Regeneron (NASDAQ:REGN). The federal government signed a $450 million contract with Regeneron to purchase as many as 1.3 million does of its antibody cocktail. Novavax announced that it received $1.6 billion to test its Covid-19 vaccine. Novavax does not have any commercially marketed products and yet it is receiving $1.6 billion in funding. Markets should interpret this as one of two things: either the government is hedging a massive bet, or it knows more about Novavax's vaccine than has been released. Given that Novavax shares popped 29% following the funding news, markets are betting on the latter. Inovio Seeking Government CooperationInovio's ability to leverage government relationships in the fight against the pandemic is crucial. It seeks to do what Novavax and Regeron have recently achieved. Former U.S. military vaccine and pandemic expert Dr. Mammen Mammen joined Inovio on June 25 to lead clinical development of the vaccine. Two days prior, Inovo received $71 million in funding to scale up manufacturing of its vaccine delivery device. Inovio's CELLECTRA 3PSP proprietary delivery device delivers INO-4800 directly into the skin. Investors are keenly scrutinizing these developments and their potential.Markets also want to know when peer review news will be released relating to INO-4800. This will be very important on the heels of the news released on June 30. Inovio's June 30 press release regarding phase 1 data for their INO-4800 vaccine didn't spike the price. Market reactions indicated some skepticism regarding Inovio's claims about INO-4800. Thus, investors will await peer review for the drug, which will likely serve to confirm or discredit the company-issued June 30 statement. Inovio also stated that it will begin a 2-stage trial in Korea. Inovio announced it added Gene Kim to its management team. He has a long history of leading Korean biotechs and previously helped list an IPO. INO Shares Might Rise to Warp SpeedThe federal government's largest expenditure in Operation Warp Speed thus far has been its bet on Novavax. The government's $1.6 billion bet is a clear indication that unproven biotech companies are a pillar of its Covid-19 strategy. Signs certainly point to a possible Operation Warp Speed funding announcement of Inovio in the coming weeks. Despite the market's tepid reception of Inovio's June news, there are signs of something big coming. The company is scrambling and aligning a coherent strategy in this volatile environment. Investors can also assume that a government funding deal is being discussed. Is INO Stock a Buy?INO stock is absolutely a hold and given all of the signs, one to consider as a Covid-19 play. Inovio has huge upside. The more I read about this stock the more I feel like investors are going to only regret not buying it. However, this is all speculation. Inovio could certainly strike out in regards to INO-4800. The company, however, has many other products in its pipeline and I can't help but feel like it's headed somewhere positive. As of writing, Alex Sirois does not own any of the aforementioned stocks. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post INO Stock Could Receive Operation Warp Speed Funding Soon appeared first on InvestorPlace.
Check out our earnings calendar for the upcoming week, as well as our previews of the more noteworthy reports.
The U.S. Food and Drug Administration on Friday said it would review GlaxoSmithKline's experimental treatment for multiple myeloma, a common form of blood cancer, for a reported side-effect which affects the eyes of patients. The FDA on Friday published submissions ahead of a meeting of the Oncologic Drugs Advisory Committee (ODAC) on July 14, where they will evaluate how belantamab mafodotin can cause keratopathy, a side-effect where deposits gather on the cornea of the eye. "The concerns and uncertainties regarding the ocular toxicities raises questions about the overall benefit-risk profile of the belantamab mafodotin in the proposed patient population," a briefing document published on the FDA's website said.
Johnson & Johnson is hoping to tackle the new form of coronavirus with a vaccine, but the pharma giant is still facing litigation challenges. Is JNJ stock a buy right now?
Editor's note: InvestorPlace's Earnings Reports to Watch is updated weekly. Please check back next week for our latest earnings picks.Earnings season is at hand. The earnings calendar picks up next week, as big banks and major consumer names report.The releases come at an interesting time for the market. Tech continues to soar, but elsewhere the news is mixed. The S&P 500 actually is down 2% over the past month. The Dow Jones Industrial Average has performed even worse.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMore broadly, the rally since March certainly has not been popular. It's difficult to remember any stretch that better illustrates the old metaphor of stocks climbing a "wall of worry." The question is whether earnings next week, or through the rest of earnings season, will change the market's trajectory.Indeed, first-quarter reports in April and May don't seem to have moved the market all that much. In many cases, investors simply shrugged at corporate earnings. Weak results were expected, companies delivered in kind, and the focus remained on the recovery.But with novel coronavirus cases in the U.S. rising, and a clear divergence between growth and value, tech and industrial, second-quarter reports may be different. Expectations likely are higher. Investors may forgive another round of soft results, but they will be looking for concrete signs of progress going forward.It's not clear that U.S. companies will deliver. Market bears have been waiting for a catalyst to undercut this rally, and that catalyst could be on the way. * The 7 Best Stocks to Invest in Right Now From that perspective, earnings next week can provide a preview of what's to come. There are some big companies reporting, with these seven releases the key ones to watch: * PepsiCo (NASDAQ:PEP) * JPMorgan Chase (NYSE:JPM) * Delta Air Lines (NYSE:DAL) * Johnson & Johnson (NYSE:JNJ) * Domino's Pizza (NYSE:DPZ) * Netflix (NASDAQ:NFLX) * Ericsson (NASDAQ:ERIC) Earnings Reports to Watch: PepsiCo (PEP)Source: suriyachan / Shutterstock.com Earnings Report Date: Monday, July 13, before market openIt's the diversification of the business that makes PepsiCo earnings particularly interesting. Between the beverage and snack segments, PepsiCo has exposure across several major channels. On Monday, we should get an update on grocery demand as stay-at-home orders are lifted, and color on restaurant and takeout sales for the beverage business.But it's also a big report for PepsiCo stock itself, for one key reason: The stock hasn't moved. PEP has traded almost perfectly sideways, and in a tight range, since early April.That in turn makes the reaction to earnings interesting. Does any sort of news, even a soft quarter (analysts are expecting sales to decline almost 7%), drive the stock higher simply due to the fact that it clarifies the story? Or are expectations still too high, even for a stock moving sideways? The first key report of the week poses an interesting test for the market. JPMorgan Chase (JPM)Source: Roman Tiraspolsky / Shutterstock.com Earnings Report Date: Tuesday, July 14, before market openThe biggest earnings news next week will come from the big banks. Tuesday sees releases from JPMorgan Chase, Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C). U.S. Bancorp (NYSE:USB) follows on Wednesday, with Bank of America (NYSE:BAC) reporting the following day.For the group as a whole, the question is if earnings can re-inspire confidence. JPMorgan probably needs to lead the way, given a long history of earnings beats and its status as the most valuable of the big banks.But with interest rates back at zero and concerns about defaults in consumer and business loans, the big banks simply need to convince investors that the current crisis is manageable. If they do so, there's room for a rally in a group whose shares generally are down at least one-third so far this year.And, of course, confidence from big banks could echo across the market. Investors have bid up stocks even with the threat of a mid-term recession looming. If that threat seems less likely amid positive commentary from the largest financial institutions, there could be more room for the market as a whole to run. Delta Air Lines (DAL)Source: Markus Mainka / Shutterstock.com Earnings Report Date: Tuesday, July 14, before market openThe travel industry desperately needs some good news. Rising pandemic fears have led the sector to pull back in recent weeks. The U.S. Global Jets ETF (NYSEARCA:JETS) at one point had doubled from its lows, but has declined about one-third from early June highs.We'll see if Delta can deliver that good news. Personally, I'm skeptical. Despite being optimistic toward the industry at the beginning of the year, I still see pain ahead for airlines. Leverage in the business and on the balance sheet suggests share prices can keep falling. Travel demand, particularly on the business side, isn't returning any time soon.Still, it's possible Delta can change the mind of skeptics like myself. Expectations certainly are at rock-bottom. Any positive commentary from management likely would make headlines. I don't believe Delta is going to post much of a surprise on Tuesday, but if it does, it will be more than just DAL stock that rises as a result. Johnson & Johnson (JNJ)Source: Alexander Tolstykh / Shutterstock.com Earnings Report Date: Thursday, July 16, before market openJohnson & Johnson delivers one of two big healthcare earnings releases, with UnitedHealth (NYSE:UNH) reporting on Wednesday.For J&J, the release is an opportunity to stem a fading share price. JNJ stock actually touched an all-time high in late April after snapping back from March declines. Since then, the stock has given back about 9%.A solid report could be enough to keep a recent bounce going. But as with PEP, the market's reaction to the report will be interesting.It would seem like a defensive business would be catching a bid in such a time of uncertainty, yet JNJ shares are sliding. If investors see that slide as an opportunity after earnings, it should bode well for companies like Procter & Gamble (NYSE:PG) and Merck (NYSE:MRK) when they report in coming weeks. Domino's Pizza (DPZ)Source: Ken Wolter / Shutterstock.com Earnings Report Date: Thursday, July 16, before market openSecond-quarter earnings from Domino's should be more important than Domino's $15 billion market capitalization might suggest. Particularly in concert with results from Pepsi, we'll get a better picture of how consumers have reacted in the last few weeks.For Domino's, too, this is a big report. Shares have run into resistance repeatedly in recent months, albeit at all-time highs. With the stock trading at 31x forward earnings, profits are going to have to come in well above expectations for DPZ stock to break out. Netflix (NFLX)Source: Riccosta / Shutterstock.com Earnings Report Date: Thursday, July 16, after market closeInvestors who believe the rally in tech needs to cool off may get some confirmation from Netflix earnings on Thursday afternoon. Netflix incredibly has a market capitalization that now dwarfs that of Disney (NYSE:DIS). The stock trades at 60x next year's consensus earnings estimates, and free cash flow multiples are even higher.To be sure, NFLX stock is a pandemic winner. But at some point, that tailwind has to be priced in. With shares up 57% already in 2020, Netflix has added over $80 billion in market value this year. It's fair to wonder if the rally has to run out of steam at some point.Meanwhile, expectations are going to be high, particularly on the subscriber front. With literally billions of people stuck at home, Netflix had an unprecedented opportunity to pick up subscribers.If Netflix was able to capitalize on that opportunity, and NFLX stock still rallies after earnings, that bodes well for other dearly valued names as earnings season rolls on. Anything less, however, and NFLX stock could have a long way to fall -- while providing some ammunition for market skeptics on its way down. Ericsson (ERIC)Source: rafapress / Shutterstock.com Earnings Report Date: Friday, July 17, before market openInvestors won't be the only ones listening to commentary from Ericsson on Friday morning. The Swedish telecommunications manufacturer is embroiled in world geopolitics. The U.S. government reportedly is looking to back Ericsson and Finnish rival Nokia (NYSE:NOK) as they compete against China's Huawei.It would seem unlikely that Ericsson management will have much to say about the political situation on Friday. But its commentary about the 5G rollout amidst the pandemic will be closely watched by investors across the space.After all, it's possible the pandemic could accelerate 5G demand as data usage increases. But governments and telecommunications providers may also pause their plans as they deal with the economic impact of the current crisis.Investors in stocks like Nokia, Cisco Systems (NASDAQ:CSCO) and Qualcomm (NASDAQ:QCOM) thus will be listening closely to Ericsson's commentary on Friday. I'd expect the news will be good, as I remain bullish on ERIC stock. But the question might be whether the news is good enough to move other stocks as well.After spending time at a retail brokerage, Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets. As of this writing, he has no positions in any securities mentioned. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post 7 Earnings Reports to Watch Next Week appeared first on InvestorPlace.
Bellwether health care stocks Johnson & Johnson and Abbott Laboratories are widely expected to report earnings crashes next Thursday and declining sales amid the coronavirus pandemic.
Last month six S&P 500 companies said they planned to boost their dividends, against two cuts and one suspension—the first time increases outnumbered cuts since the pandemic forced widespread business lockdowns in March.
The U.S. saw yet another day of record coronavirus casualties on Thursday, led mostly by a relentless surge in the stricken Sun Belt region.
The United States will potentially have tens of millions of doses of experimental COVID-19 vaccines available by this fall and hundreds of millions of doses by the beginning of 2021, a top health official said on Thursday. U.S. Department of Health and Human Services Secretary Alex Azar on Thursday said during an internet interview with The Hill that the early doses would be the result of government funding to scale up manufacturing ahead of the vaccines being approved by regulators. The government has provided billions of dollars for vaccines under development at Moderna, Johnson & Johnson , AstraZeneca and Novavax.
Johnson & Johnson (JNJ) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
ISRG stock has dipped this year, leading Intuitive Surgical stock performance to lag its peers in its medical technology group. So, is it time to take on this robotic surgery stock?
These three companies have the resources and the positioning to survive the harshest of economic conditions.
Several prominent plaintiffs' law firms, known for striking large settlements with companies like German carmaker Volkswagen AG and Equifax Inc, were approved for loans that totaled tens of millions of dollars in government aid meant to help small businesses stay afloat during the coronavirus pandemic. San Francisco-based Lieff Cabraser Heimann & Bernstein, which has 100 lawyers and bills itself on its website as "among the largest law firms in the United States that only represent plaintiffs" was approved to receive between $2 million and $5 million under the Paycheck Protection Program, according to data released Monday by the U.S. Treasury Department and Small Business Administration. Steven Fineman, the firm's managing partner, said Lieff Cabraser used the loan to compensate lawyers and staff members and prevent layoffs.
The groups, which include educational institutions such as Emory University and activist groups such as Greenpeace, among others, also want the company to recall existing inventory in North America. Janette Robinson Flint, the executive director of Black Women for Wellness, said in a statement that J&J's choice to continue marketing baby powder in international markets, often to Black and Brown consumers, contradicts a statement it issued in June committing to fighting racial inequality.
U.S. drugmaker Johnson & Johnson aims to begin clinical testing of its COVID-19 vaccine in the coming weeks and produce billions of doses in 2021, chief executive officer Alex Gorsky said on Wednesday, but cautioned that it will take more than one vaccine to rein in the virus. Gorsky said it was a good thing other companies are experimenting with different approaches to vaccines, in part because different vaccines might work better in different groups of people. "I think it's going to take multiple vaccines."
The U.S. topped 3 million coronavirus cases Wednesday after setting a new record of 60,000 daily cases in the previous day.
Johnson & Johnson (JNJ) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Dr. Fauci says he expects phase 3 vaccine trials to begin at the end of July. Yahoo Finance's Anjalee Khemlani joins the On the Move panel to discuss where vaccine trials stand.
The midcap drugmaker said Wednesday it would collaborate with the Mount Sinai Health System to test a drug derived from blood plasma taken from recovered Covid-19 patients.