News Formal

Johnson & Johnson shares rise after company proposes baby powder cancer settlement

  • 📰 CNBC
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

Wall Street analysts were encouraged by J&J's proposal to pay $8.9 billion to settle claims that its baby powder and other talc products caused cancer.

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. The subsidiary is shouldering tens of thousands of talc lawsuits in a bid to reduce J&J's losses from litigation and settlement. On Wall Street, some analysts were also encouraged by J&J's move despite uncertainty around the final outcome of the proposal.

The proposed $8.9 billion settlement is also in-line with JPMorgan's $8 billion to $10 billion estimate, Schott noted.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 12. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Wall Street mixed as inflation concerns resurface, energy stocks jumpRising oil prices stoked concerns about more interest rate hikes from the Fed. BIDENFLATION BIDENFLATION BIDENFLATION
La source: Reuters - 🏆 2. / 97 Lire la suite »