Johnson & Johnson Announces Plan of Reorganization for Ovarian Cancer Claims

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This settlement resulted in an incremental charge of approximately $2.7 billion, reducing previously reported GAAP net earnings for the first quarter of 2024 from $5.4 billion to $3.3 billion, and earnings per share (EPS) from $2.20 to $1.34. The Company also revised its financial statements to reflect this settlement.

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About Johnson & Johnson

Johnson & Johnson is a multinational corporation engaged in the research, development, production, and sale of a broad range of healthcare products. Primarily known for its pharmaceuticals, medical devices, and consumer health products, Johnson & Johnson has a significant presence in the global healthcare industry. It develops medications for a variety of fields such as immunology, oncology, neurology, infectious diseases, and vaccines. The company also produces a wide array of medical devices for surgery, orthopedics, and cardiovascular health. In addition to pharmaceuticals, Johnson & Johnson is renowned for its consumer health products, including baby care, skin and hair care, wound care, and over-the-counter pharmaceuticals, with well-recognized brands like Band-Aid, Tylenol, and Neutrogena. Operating globally, the corporation's extensive portfolio and commitment to healthcare innovation make it a pivotal player in the industry, ensuring it remains influential in addressing worldwide health challenges and advancing medical technology.