Life Science News

Johnson & Johnson Names CEO Joaquin Duato as Chairman of the Board

Alex Gorsky to Step Down After 30-Year Career at Johnson & Johnson

Johnson & Johnson (NYSE: JNJ) today announced that its Board of Directors has elected Chief Executive Officer, Mr. Joaquin Duato, to assume the additional position of Chairman, effective in January 2023. Mr. Duato succeeds Mr. Alex Gorsky, who will step down from his role as Executive Chairman following a brief transitional period.

Mr. Duato has served as Johnson & Johnson's CEO and a member of the Board of Directors since January 3, 2022. Prior to that time, he held senior leadership positions over his 30-plus year career with the Company across multiple business sectors, geographics and functions.

"On behalf of the Board of Directors, I would like to thank Alex for his unwavering commitment to Johnson & Johnson. Over the last three decades, Alex's influence has truly shaped the global healthcare landscape and improved billions of lives," said Anne Mulcahy, Lead Independent Director. "Joaquin's appointment to the additional role of Chairman reflects his tremendous 30-year track record at Johnson & Johnson, as well as the Board's thoughtful and engaged approach to succession planning. During Joaquin's career with the Company, the Board has witnessed firsthand his ability to effectively lead, collaborate, and create value for all our stakeholders. We have the utmost confidence that he will continue to be an excellent steward of the business and look forward to working closely with him in this next chapter."

Mr. Duato said, "Guided by our Credo, I will continue to work closely with the other Directors to build on Johnson & Johnson's success. I also want to thank Alex for his countless contributions to our Company. He has inspired an entire generation of leaders with his passion for improving human health, built the best team in the industry and laid a strong foundation for the future of both Johnson & Johnson and Kenvue, the planned new Consumer Health company."

"The opportunity to lead Johnson & Johnson through such a pivotal time in the Company's history has been the great privilege of my life," said Alex Gorsky. "I would like to express my deep appreciation to every employee, past and present, for their steadfast commitment to bringing our Credo to life every day and to improving the well-being of those who rely on us. It has been an honor to work alongside each of you, and I could not think of a better leader than Joaquin to lead the Board as it helps guide the Company to even greater achievements."

About Joaquin Duato
Joaquin Duato is the Chief Executive Officer of Johnson & Johnson and serves on its Board of Directors. He leads a global workforce of 135,000 employees in developing and delivering transformational and innovative healthcare solutions in Pharmaceuticals, MedTech, and Consumer Health. Previously, Joaquin served as the Vice Chairman of the Executive Committee, where he provided strategic direction for the Pharmaceutical and Consumer Health sectors and oversaw both Information Technology and the Global Supply Chain.

A believer in the power of technology to accelerate progress in healthcare, Joaquin is leading Johnson & Johnson to harness data science and intelligent automation to solve the world's toughest health challenges. He is committed to building an inclusive workforce that reflects the patients Johnson & Johnson serves.

He earned an MBA from ESADE in Barcelona, Spain, and a Master of International Management from Thunderbird School of Global Management in Phoenix, Arizona.

About Alex Gorsky
Alex Gorsky is Chairman of the Board and Chief Executive Officer of Johnson & Johnson, one of just seven leaders who have served in the dual role since the company was listed on the New York Stock Exchange in 1944.

Alex began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica in 1988. Over the next three decades, he advanced through positions of increasing responsibility in sales, marketing, and management, culminating in being named CEO and Chairman in 2012. Under Alex's leadership, Johnson & Johnson continues to be one of the world's exceptional corporations and is currently the number one pharmaceutical company on Fortune magazine's list of the "World's Most Admired Companies."

A longtime advocate of diversity and inclusion and supporter of veterans' issues, Alex currently sits on the Board of Directors of Apple, IBM, JPMorgan Chase, NewYork-Presbyterian Hospital, and the Travis Manion Foundation, and serves on the Wharton School of the University of Pennsylvania Board of Advisors.

After completing his undergraduate education at the U.S. Military Academy at West Point, NY, Alex served six years in the Army. He earned his MBA from the Wharton School of the University of Pennsylvania in 1996.

About Johnson & Johnson
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 135 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest diversified healthcare products company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

Cautions Concerning Forward-Looking Statements

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2022, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the Company's most recently filed Quarterly Report on Form 10-Q and the Company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov , www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

Media:
Jake Sargent
jsargen3@its.jnj.com

Investor Relations:
Jessica Moore
jmoore29@its.jnj.com

News Provided by Business Wire via QuoteMedia

JNJ

Kaleido Collaborates with Janssen on Metabolic Therapies

Kaleido Biosciences (NADAQ:KLDO) announced a research collaboration with Janssen’s World Without Disease Accelerator, part of the Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE:JNJ).

As quoted in the press release:

Keep reading...Show less

XBiotech Sells Human Antibody to Janssen for US$750 Million

XBiotech (NASDAQ:XBIT) announced the closing of the sale of its True Human antibody Bermekimab to Johnson & Johnson’s (NYSE:JNJ) Janssen Biotech.

As quoted in the press release:

Keep reading...Show less
CSE:BOSS

YIELD GROWTH Announces 130 Retail Locations Confirmed to Sell Urban Juve Products

The Yield Growth Corp. (CSE:BOSS, OTCQB:BOSQF, Frankfurt:YG3) is pleased to announce that 130 retail locations across Canada and the US have agreed to sell Urban Juve products with 90 retail locations now live with product. The locations are diverse geographically, and will bring luxury, hemp-powered skincare products to new markets across North America.

Keep reading...Show less

Aduro Biotech Announces Initiation of Phase 1b Clinical Trial in Non-Small Cell Lung Cancer under Janssen Strategic Partnership

Aduro Biotech (NASDAQ:ADRO) announced the recent initiation of a Phase 1b study of ADU-214 (JNJ-64041757) in combination with nivolumab for the treatment of advanced lung cancer. ADU-214 is an immunotherapy based on Aduro’s live, attenuated double-deleted Listeria (LADD) technology platform in development for the treatment of advanced or metastatic non-small cell lung cancer. Janssen Biotech, Inc. (Janssen), Aduro’s license partner for ADU-214, is conducting the global trial.

As quoted in the press release:

Keep reading...Show less

Minerva Neurosciences to Report First Quarter 2016 Financial Results and Business Updates on May 3, 2016

| Source:Minerva Neurosciences, Inc.



WALTHAM, Mass., April 26, 2016 (GLOBE NEWSWIRE) — Minerva Neurosciences, Inc. (NASDAQ:NERV), a clinical-stage biopharmaceutical company focused on the development of therapies to treat central nervous system (CNS) disorders, today announced that it will release financial results and business updates for the first quarter of 2016 on Tuesday, May 3, 2016.  The Company will host a webcast and conference call that day at 8:30 a.m. Eastern Time to discuss these results and updates.
The live call may be accessed by dialing (877) 312-5845 for domestic callers or (765) 507-2618 for international callers and referring to conference ID number 74086869.  A live webcast of the conference call will be available online in the Investors and Media section of the Company’s website at ir.minervaneurosciences.com.  The archived webcast will be available on the Company’s website beginning approximately two hours after the event for 30 days.
About Minerva Neurosciences:
Minerva Neurosciences, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of a portfolio of products to treat CNS diseases.  Minerva’s proprietary compounds include: MIN-101, in Phase IIb development for schizophrenia; MIN-202 (JNJ-42847922), which recently completed Phase IIa and Phase Ib clinical trials for insomnia and major depressive disorder (MDD), respectively; MIN-117, in Phase IIa development for MDD; and MIN-301, in pre-clinical development for Parkinson’s disease.  Minerva’s common stock is listed on the NASDAQ Global Market under the symbol “NERV.”  For more information, please visit www.minervaneurosciences.com.






Keep reading...Show less

FDA Approves Abbott's Spinal Cord Stimulation for People Living with Painful Diabetic Peripheral Neuropathy

  • The new indication for Abbott's Proclaim™ XR SCS system provides a non-medication option for people with painful diabetic peripheral neuropathy
  • Spinal cord stimulation is proven to be more effective than conventional medical management in the treatment of chronic pain 1,2

Abbott (NYSE: ABT) announced today that the U.S. Food and Drug Administration (FDA) has approved its Proclaim™ XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN), a debilitating complication of diabetes. The Proclaim XR SCS system can provide relief to DPN patients in need of alternatives to traditional treatment approaches, such as oral medication. People who receive therapy from the Proclaim XR SCS system will also be able to use Abbott's NeuroSphere™ Virtual Clinic, a connected care app that allows people to communicate with a physician and receive treatment adjustments remotely.

Roughly 34.2 million Americans, or 10.5% of the U.S. population, have diabetes. 3 Diabetic neuropathy, one of the complications of diabetes, is a type of damage seen predominately in nerves running to the feet. 4 During their lifetime, approximately 50% of adults with diabetes will develop peripheral neuropathy, which may include symptoms such as pain and numbness in the legs, feet and hands. 5

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Medtronic recommends rejection of below-market mini-tender offer by TRC Capital Investment Corporation

Medtronic plc (NYSE:MDT) recently became aware that TRC Capital Investment Corporation (TRC) has made an unsolicited mini-tender offer to purchase up to 1,500,000 Medtronic ordinary shares, representing approximately 0.1% of the company's outstanding ordinary shares. TRC's offer price of $77.25 per share in cash is approximately 4.5% lower than the $80.91 closing price of Medtronic ordinary shares on January 20, 2023 the last closing price prior to commencement of the offer.

Medtronic does not recommend or endorse TRC's unsolicited below-market mini-tender offer. Further, because the offer is at a price significantly below the current market price of Medtronic ordinary shares, Medtronic recommends that shareholders not tender their shares. Medtronic is not affiliated or associated with TRC, its mini-tender offer, or the mini-tender offer documentation.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Abbott Reports Fourth-Quarter and Full-Year 2022 Results; Issues 2023 Financial Outlook

  • Fourth-quarter sales of $10.1 billion ; full-year 2022 sales of $43.7 billion
  • Full-year 2022 sales growth of 1.3 percent; organic sales growth of 6.4 percent
  • Full-year 2022 GAAP diluted EPS of $3.91 ; adjusted diluted EPS of $5.34
  • Continues to strengthen portfolio with steady cadence of new product approvals

Abbott (NYSE: ABT) today announced financial results for the fourth quarter ended Dec. 31, 2022 .

  • Fourth-quarter sales of $10.1 billion , which were negatively impacted by an expected year-over-year decline in COVID-19 testing-related sales, decreased 12.0 percent on a reported basis and 6.1 percent on an organic basis, which excludes the impact of foreign exchange.
  • Excluding COVID-19 testing-related sales 1 , fourth-quarter sales decreased 1.4 percent on a reported basis and increased 5.4 percent on an organic basis.
  • Excluding COVID-19 testing-related sales 2 and U.S. infant formula sales that were impacted by manufacturing disruptions 3 , full-year 2022 sales increased 1.9 percent on a reported basis and 7.4 percent on an organic basis.
  • GAAP diluted EPS was $0.59 in the fourth quarter. Excluding specified items, adjusted diluted EPS was $1.03 .
  • Abbott issues full-year 2023 guidance for diluted EPS from continuing operations on a GAAP basis of $3.05 to $3.25 and full-year adjusted EPS from continuing operations of $4.30 to $4.50 .
  • Abbott projects full-year 2023 organic sales growth, excluding COVID-19 testing-related sales, of high-single digits 4 and COVID-19 testing-related sales of around $2.0 billion .
  • In October, Abbott's market-leading FreeStyle Libre ® continuous glucose monitoring system was named the "Best Medical Technology" of the last 50 years by the Galien Foundation.
  • In December, Abbott announced U.S. Food and Drug Administration (FDA) approval of its Eterna™ spinal cord stimulation system — the smallest implantable, rechargeable system currently available for the treatment of chronic pain. 5
  • In January, Abbott announced U.S. FDA approval of its minimally invasive Navitor™ transcatheter aortic valve implantation (TAVI) system for people with severe aortic stenosis who are at high risk for surgery.

"We significantly exceeded the EPS guidance we provided at the beginning of last year despite challenging global business conditions," said Robert B. Ford , chairman and chief executive officer, Abbott. "Our R&D pipeline continues to be highly productive with several recent and upcoming new product launches that position us well going forward."

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Singular Health Group Limited

Completion of Global3D Acquisition

Medical technology company Singular Health Group Ltd (ASX: SHG) (“Singular Health”, or “the Company”) is pleased to advise that it has completed the acquisition of the assets of Global3D Pty Ltd (“Global3D”) as previously announced on 6 December 2022. The acquisition is the culmination of over two years of working together with Global3D to investigate and develop enhanced software, technology and 3D printing processes for a range of medical devices, including customised ankle foot orthotics and individualised prosthetics.

Keep reading...Show less

Johnson & Johnson Reports Q4 and Full-Year 2022 Results

  • 2022 Fourth-Quarter reported sales decline of 4.4% to $23.7 Billion primarily driven by unfavorable foreign exchange and reduced COVID-19 Vaccine sales vs. prior year. Operational growth excluding COVID-19 Vaccine of 4.6%*
  • 2022 Fourth-Quarter earnings per share (EPS) of $1.33 decreasing 24.9% and adjusted EPS of $2.35 increasing by 10.3%*
  • 2022 Full-Year reported sales growth of 1.3% to $94.9 Billion primarily driven by strong commercial execution partially offset by unfavorable foreign exchange. Operational growth of 6.1%*
  • 2022 Full-Year earnings per share (EPS) of $6.73 decreasing 13.8% and adjusted EPS of $10.15 increasing by 3.6%*
  • Company guides 2023 adjusted operational sales growth excluding COVID-19 Vaccine of 4.0%* and adjusted operational EPS of $10.50, reflecting growth of 3.5%*

Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2022. "Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges," said Joaquin Duato, Chairman of the Board and Chief Executive Officer. "I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value."

OVERALL FINANCIAL RESULTS