Jim Cramer: J&J talc settlement is good for a stock that has so much going for it already
📰 source: cnbc_topnews · 💼 business
johnson & johnson reached a $5.5 billion settlement to resolve about 76,000 ovarian cancer talc lawsuits, less than the $8 billion offer rejected two years ago. the deal is contingent on at least 95% of claimants agreeing. shares hit a record high near $275 before pulling back. cramer called the move excessive but noted the settlement removes a major overhang.
beyond the talc news, j&j has strong pharma and medtech momentum. darzalex sales topped $4.2 billion in q2, up 19%. carvykti and tecvayli grew nearly 50% and 57%. the fda approved icotyde for psoriasis and cleared the ottava surgical robot. j&j aims to be the number one oncology company by 2030 with over $50 billion in sales. the stock is up nearly 30% ytd versus the s&p 500's 8.5% gain, and a rotation into healthcare has supported it.
why it matters: settlement removes a key legal overhang for j&j, while its pharma pipeline and robot approval support a 30% ytd gain outperforming the market.
source: cnbc_topnews
sentiment: +0.60 · impact: 0.40