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Major Developments for Johnson & Johnson in 3Q16

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Dec. 4 2020, Updated 10:53 a.m. ET

Major developments

As discussed previously in this series, Johnson & Johnson’s (JNJ) 3Q16 performance was positive across all of its segments. However, the Consumer segment reported a decline in revenue, as the negative impact of foreign exchange more than offset operational growth. There were several major developments for JNJ during 3Q16.

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Pharmaceuticals segment

In 3Q16, the Pharmaceuticals segment reported the following major developments:

  • the FDA granted breakthrough therapy designation to Darzalex for the treatment of patients with multiple myeloma, and Esketamine for the treatment of major depressive disorders
  • the FDA approved the label expansion of Invokamet as a first-line treatment for patients with type 2 diabetes
  • the FDA approved Stelara for the treatment of patients with active Crohn’s disease
  • the company submitted a supplemental biologics license agreement for the use of Darzalex in combination with other drugs for the treatment of multiple-myeloma patients who have undergone at least one treatment
  • the company submitted a biologics license agreement for the use of Sirukumab for the treatment of rheumatoid arthritis
  • the company submitted a marketing authorization application for a Darunavir-based single tablet treatment for HIV-1

Medical Devices segment

  • announced the Abbott Medical Optics acquisition agreement
  • launched Acclarent Aera, the first balloon dilation intervention for eustachian tube dysfunction in the United States

Consumer segment

  • completed the acquisition of Vogue International on July 18, 2016, to strengthen its haircare and personal care product portfolio, for a total of $3.3 billion

Abbott Laboratories’ (ABT) Humira competes with JNJ’s Stelara, while Bristol-Myers Squibb’s (BMY) and Pfizer’s (PFE) Eliquis competes with JNJ’s Xarelto. Investors could consider the VanEck Vectors Pharmaceutical ETF (PPH), which has a 5.1% exposure to Johnson & Johnson.

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