Johnson & Johnson reports first-quarter earnings before the market opens on Tuesday as it faces litigation over its talc baby powder and new competition against its prostate cancer drug Zytiga.J&J makes everything from prescription drugs, soap and surgical staplers, though pharmaceuticals account for about half of the health-care company's revenue.
Sales of prostrate cancer drug Zytiga are under threat, thanks to generic versions launching late last year after a judge struck down J&J's patent. The Food and Drug Administration in March approved a new J&J drug, Spravato, a nasal spray for treatment-resistant depression made from a ketamine-like drug.
A Reuters report in December claimed J&J knew for decades its talc baby powder contained asbestos, threatening the company's namesake portfolio of baby products after relaunching the brand last spring. The company has repeatedly denied any wrongdoing and stands behind its namesake baby powder.
Johnson’s have had asbestos in their powder for over 30 years. I only want to hear about them becoming bankrupt.
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