aibioJohnson & Johnson
Top story · Aug 4, 2026 · SEC filing 8-K
Johnson & Johnson reports a leadership change
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On August 4, 2026, the Company announced that Jennifer Taubert will retire from her position as Executive Vice President, Worldwide Chairman, Innovative Medicine and member of the Executive Committee effective September 1, 2026.
- Ticker
- JNJ
- Listing
- NYSE, United States
- Next date
- Q4 2026
- Chief executive
- Joaquin Duato
Desk view · Opinion · Updated Oct 22, 2026
J&J's drug business is outgrowing its Stelara loss, but the early deals are unproven
J&J is absorbing the loss of Stelara exclusivity with fast-growing newer drugs and is spending on early science through Sail and Firefly. The drug business looks healthy, while talc and weak MedTech growth cloud the group figures. The early deals are options on future medicines, not yet evidence.
Read the full desk viewaibio.space Investor Rank · Opinion
8/10 Positive view
The drug business is outgrowing the Stelara loss with strong cash, while the talc settlement, slow MedTech growth and unproven early deals cloud the picture.
- Technology
- 2/2
- Odds
- 1/2
- Balance sheet
- 2/2
- Risk
- 1/2
- Momentum
- 2/2
Opinion only. The Investor Rank is aibio.space's opinion of the company's business position, drawn from the public sources on this page. It is not a recommendation to buy, sell or hold any security and it is not investment advice. It does not consider the share price, valuation or your circumstances, and it can change at any time. Payments from companies never affect it. How the rank works.
- Technology
- Broad across modalities. Icotyde, Talvey, Carvykti, Caplyta, a degrader antibody conjugate platform and a new in vivo CAR-T bet all sit in one drug portfolio.
- Odds
- Good for marketed products, open for early deals. Talvey, Caplyta and Icotyde have clinical data, while Sail and Firefly have none public.
- Balance sheet
- Strong but levered. About $17.2 billion in cash and securities against about $44.7 billion of debt at Sept 27, 2026.
- Main risk
- Talc and MedTech. The $5.5 billion settlement needs 95% participation, and MedTech grew just 2.5% in the third quarter.
- Watch next
- Q4 readouts on pasritamig and JNJ-6143, then the December 8 Enterprise Business Review with the 2027 outlook.
Top news on Johnson
Questions investors ask
What is aibio.space's Investor Rank for Johnson & Johnson?
8 out of 10, our positive view. The drug business is outgrowing the Stelara loss with strong cash, while the talc settlement, slow MedTech growth and unproven early deals cloud the picture. This is opinion only, not a recommendation to buy, sell or hold, and it does not consider the share price or valuation. Source
What did Johnson & Johnson report for third-quarter 2026?
J&J reported sales of $25.4 billion, up 5.9%, and raised the midpoint of 2026 adjusted EPS guidance to $11.10. GAAP net earnings were $210 million because of a charge for the proposed ovarian talc settlement. Source
How much is J&J paying to settle ovarian talc claims?
J&J agreed to resolve ovarian talc litigation for $5.5 billion. The agreement depends on at least 95% of the remaining ovarian claims participating, and management says it is trending to meet that threshold. Source
What is J&J's deal with Sail Biomedicines?
J&J is making $785 million in initial payments, including a $465 million equity investment, for a collaboration on in vivo CAR-T therapies in immune-mediated disease. It also holds an option to buy Sail for $2.58 billion. Source
Did J&J buy Firefly Bio?
Yes. J&J announced a $1 billion cash purchase of Firefly Bio on June 8, 2026, and said in October that the deal was completed in the third quarter. Firefly's candidates are preclinical. Source
Is Caplyta approved for bipolar mania?
No. Caplyta is approved for bipolar depression, schizophrenia and as an add-on in major depressive disorder. J&J reported a positive first phase 3 trial in bipolar I mania on September 21, 2026, and a second trial has completed. Source
What is Johnson & Johnson's market cap?
We do not publish live share prices. In its annual report, Johnson & Johnson put the market value of shares held by non-affiliates (public float) at $367.00 billion as of Jun 29, 2025. Source
Is Johnson & Johnson a smaller reporting company?
SEC records list Johnson & Johnson's filer category as: Large accelerated filer. Source
Where is Johnson & Johnson headquartered?
SEC records list its business address as ONE JOHNSON & JOHNSON PLZ, NEW BRUNSWICK, NJ, 08933. Source
When does Johnson & Johnson's fiscal year end?
Johnson & Johnson's fiscal year ends on January 3, per SEC records. Source
What did Johnson & Johnson last file with the SEC?
Its most recent filing in our record is a 10-Q filed 2026-10-21. All of its filings are on SEC EDGAR. Source
What was Johnson & Johnson called before?
SEC records list these former names: JOHNSON & JOHNSON ET AL. Source
What industry is Johnson & Johnson in?
Its SEC industry code (SIC 2834) is Pharmaceutical Preparations. Source
Legal and investor matters
- Litigation
J&J announces plan to resolve ovarian talc docket with $5.5 billion commitment
Johnson & Johnson's 10-Q says about 76,500 plaintiffs have direct talc claims in the United States. After its three Chapter 11 bankruptcy proceedings were dismissed, it reversed about $7.0 billion of reserves in the first quarter of 2025. In July 2026 it announced a plan to resolve the ovarian cancer docket with a $5.5 billion commitment, conditioned on at least 95% of remaining claims participating. The talc reserve is about $9.0 billion.
- Class action
Talc securities class action: Supreme Court denies J&J review of class certification
A securities class action filed in February 2018 in the District of New Jersey alleges J&J and certain officers violated federal securities laws by failing to disclose alleged asbestos contamination in talc body powders. The court certified the class in December 2023, and the Third Circuit affirmed in July 2025. J&J filed a writ of certiorari in February 2026, which the Supreme Court denied in April 2026. Expert discovery is proceeding.
- Litigation
Stelara antitrust class certified; summary judgment for Janssen on Momenta patent claim is on appeal
A putative class action filed in December 2023 in the Eastern District of Virginia alleges Janssen violated federal and state antitrust laws and other state laws by delaying Stelara biosimilar competition through patent enforcement. The court granted class certification in December 2025. In January 2026 it granted summary judgment for Janssen on plaintiffs' claim regarding patents obtained through the 2020 Momenta acquisition. Plaintiffs appealed to the Fourth Circuit in March 2026.
- Litigation
Court gives final approval to Actelion Tracleer antitrust class settlement
Two putative class actions filed in October 2018 against Actelion in Maryland and the District of Columbia allege antitrust and unfair competition violations by allegedly refusing to supply generic makers with Tracleer samples. Plaintiffs dismissed the D.C. case and filed a consolidated complaint in the District of Maryland in January 2019, and the court certified a class in September 2024. The parties agreed to settle in February 2026, and the court granted final approval in July 2026.
- Litigation
ERISA class action over J&J prescription-drug benefits dismissed, plaintiffs appeal
A putative class action filed in February 2024 in the District of New Jersey names J&J and its Pension and Benefits Committee. The complaint alleges they breached ERISA fiduciary duties by mismanaging the prescription-drug benefits program. In November 2025 the court dismissed the fiduciary duty claims. Plaintiffs withdrew their remaining claim, the court entered final judgment for defendants in January 2026, and plaintiffs appealed to the Third Circuit.
- Litigation
J&J pays $0.8 billion judgment in Auris Health acquisition dispute
In October 2020 Fortis Advisors LLC, as representative of the former Auris Health stockholders, sued J&J alleging breach of contract, fraud and other claims tied to Ethicon's 2019 acquisition of Auris. J&J's 10-Q says that in January 2026 the company paid a $0.8 billion judgment, inclusive of interest.
- Litigation
Jury verdict against Biosense Webster in catheter antitrust case is on appeal
Innovative Health, LLC sued Biosense Webster in October 2019 in the Central District of California, alleging its business practices and contract terms violate federal and California antitrust law in the sale of mapping and ultrasound catheters. A jury returned a verdict for Innovative Health in May 2025, and in August 2025 the court issued a permanent injunction. Biosense Webster appealed both; briefing was completed in June 2026.
- Litigation
Third Circuit orders mediation in Prezista and Intelence False Claims Act case
A qui tam False Claims Act complaint served on J&J and Janssen Products in July 2016 alleges off-label promotion of Prezista and Intelence and anti-kickback violations. In June 2024 a jury found no anti-kickback liability but found liability for part of the off-label claims. J&J appealed to the Third Circuit, which heard argument in March 2026 and in April 2026 ordered the parties to mediate. A decision is pending.
- Governance
Shareholders reject independent board chair proposal at J&J 2026 meeting
Johnson & Johnson reported the results of its 2026 annual meeting in an 8-K dated 2026-04-27. Shareholders did not approve a shareholder proposal to adopt a policy requiring an independent board chair. The proposal received 406,353,048 votes for and 1,326,857,173 votes against, with 9,344,908 abstentions.
- Financing
J&J completes euro and dollar notes offerings in February 2025
On 2025-02-26 Johnson & Johnson completed public offerings of five series of euro-denominated notes: EUR 600,000,000 of 2.700% notes due 2029, EUR 700,000,000 of 3.050% notes due 2033, EUR 1,000,000,000 of 3.350% notes due 2037, EUR 700,000,000 of 3.600% notes due 2045 and EUR 1,000,000,000 of 3.700% notes due 2055. On 2025-02-20 it had completed a five-series U.S. dollar notes offering.
Pipeline
| Program | Indication | Stage |
|---|---|---|
| ICOTYDE (icotrokinra) | Plaque psoriasis (approved); psoriatic arthritis, ulcerative colitis, Crohn's disease | Approved in psoriasis in the U.S., Europe, Japan and China; psoriatic arthritis phase 3 late-breaker at ACR on Oct 22, 2026 Source |
| CAPLYTA (lumateperone) | Manic episodes of bipolar I disorder | Phase 3 Study 451 positive (Sept 21, 2026); Study 452 completed, analysis under way Source |
| TALVEY (talquetamab) plus daratumumab | Relapsed/refractory multiple myeloma, 1 or more prior lines | CHMP positive opinion Oct 16, 2026; European Commission decision pending Source |
| CARVYKTI (ciltacabtagene autoleucel), with Legend Biotech | Early-line relapsed/refractory multiple myeloma | Approved; CARTITUDE-2 cohort A shows 10 of 20 patients progression free at 5 years Source |
| Sail Biomedicines in vivo CAR-T collaboration | Immune-mediated diseases | Collaboration signed July 29, 2026; no clinical data disclosed Source |
| Firefly Bio Firelink degrader antibody conjugates | KRAS-driven solid tumors | Preclinical; $1 billion acquisition completed in Q3 2026 Source |
Opinion · Devil's advocate
Fact-check-o-meter
J&J's talc messaging runs ahead of what its 10-Q calls a conditional deal
J&J's July release called its $5.5 billion ovarian talc plan an "efficient conclusion" to the litigation, while the 10-Q describes a conditional proposal that leaves the mesothelioma docket and a certified securities class action open. Its earnings and trial releases are largely consistent with the filings and registries, though the CARVYKTI five-year claim rests on 20 patients in a single-arm cohort.
Press release vs filing · weight high
"Conclusion" to talc versus a conditional proposal
The company said: "Efficient Conclusion to the Talc Litigation that Eliminates Expense Associated with Litigating Remaining 76,000 Ovarian Talc Claims" source
The record says: The 10-Q says the agreement is "conditioned on, among other things, the express participation of at least 95% of the remaining claims" and "The proposed agreement does not impact the mesothelioma docket, which remains ongoing. The Company also faces litigation in Canada." It puts the total talc reserve at "approximately $9.0 billion" and counts "approximately 76,500 plaintiffs" as of Sept. 27, 2026. source
Our view: The release headline says Proposed Resolution and its first paragraph states the 95% condition, so nothing was hidden. But its sub headline says Efficient Conclusion, which reads as finished business, while the filing treats the deal as pending and the talc exposure as wider than the ovarian claims.
Press release vs filing · weight low
GAAP EPS of $0.09 is shown next to adjusted $2.59
The company said: "2026 Third-Quarter earnings per share (EPS) of $0.09 reflects a one-time special charge for the proposed talc litigation resolution, the acquisition of Firefly Bio, Inc., and the strategic collaboration with Sail Biomedicines; adjusted EPS* of $2.59 also reflects the impact of these M&A deals" source
The record says: The 10-Q says "the Company recorded a $5.5 billion accrual related to the proposed resolution of talc ovarian litigation" in the third quarter. The release adds that J&J "does not provide GAAP financial measures on a forward-looking basis". source
Our view: The release puts the GAAP number in its second bullet and names the charge, which is consistent with the filing. Guidance is adjusted only, and the release says J&J does not give GAAP guidance because it cannot predict legal outcomes, unusual gains and losses, or acquisition related expenses.
Science · weight medium
Five-year CARVYKTI claim rests on 20 patients, no control arm
The company said: "50% of patients (10/20) in early line relapsed or refractory multiple myeloma (RRMM) who were treated with a single infusion of CARVYKTI® (ciltacabtagene autoleucel; cilta-cel) remained alive and progression-free for at least five years without maintenance therapy." source
The record says: ClinicalTrials.gov lists CARTITUDE-2 as a single-group, open-label (masking "NONE") phase 2 study whose primary outcome is MRD negativity "At least 1 year after JNJ-68284528 infusion". The release says that at five years "MRD was assessed by bone marrow in three patients and was not required per protocol" and that "one patient developed a new hematologic malignancy (acute myeloid leukemia)". It also says all three patients assessed were MRD negative. source
Our view: Ten of 20 patients alive and progression free at five years is a notable result, but this is a small, uncontrolled follow-up of an initial subgroup of one cohort, and the release wording that it "may have curative potential in some patients" goes further than 20 patients can show. A randomized comparison would carry more weight for the earlier-line case.
Science · weight low
Caplyta mania result matches its registry entry
The company said: "The study met its primary endpoint, with CAPLYTA® demonstrating a statistically significant and rapid reduction in manic symptoms versus placebo at Week 3, with significant improvement seen as early as Day 3." source
The record says: ClinicalTrials.gov lists the primary outcome of Study 451 as "Young Mania Rating Scale (YMRS)" at "Week 3", with 354 enrolled. The release notes "A second pivotal Phase 3 study (Study 452) evaluating CAPLYTA® for the treatment of manic episodes in adults with bipolar I disorder has been completed, and data analysis is underway." source
Our view: The endpoint and timepoint match the registry, and the release says this is the first of two trials. A three-week trial says little about long-term use, and the second pivotal study, Study 452, has finished but its results are not in the release.
Legal and disclosure record · weight medium
Talc securities class action is certified and in expert discovery
The record says: The 10-Q says: "In February 2018, a securities class action lawsuit was filed against the Company and certain named officers in the United States District Court for the District of New Jersey alleging that the Company violated the federal securities laws by failing to disclose alleged asbestos contamination in body powders containing talc". The court certified the class in December 2023, the Third Circuit affirmed in July 2025, the Supreme Court denied certiorari in April 2026, and "Expert discovery is proceeding." source
Our view: This is a disclosed allegation, not a finding, and the 10-Q records the company's motion to dismiss and its challenges to class certification. It is separate from the $5.5 billion ovarian proposal, and neither the talc release nor the earnings release mentions it.
Documents we compared
- Johnson & Johnson Form 10-Q for the quarter ended Sept. 27, 2026
- Johnson & Johnson third-quarter 2026 results release (8-K exhibit 99.1)
- Johnson & Johnson proposed resolution of ovarian talc litigation (8-K exhibit 99.1)
- CARVYKTI CARTITUDE-2 five-year release
- CAPLYTA Study 451 bipolar mania release
- ClinicalTrials.gov NCT04133636 (CARTITUDE-2)
- ClinicalTrials.gov NCT06462586 (Study 451)
Stock chart
SEC filings and registration
- SEC name
- Johnson & Johnson
- CIK
- 200406
- Industry (SIC)
- Pharmaceutical Preparations (2834)
- US tickers
- JNJ (NYSE)
- State or country of incorporation
- NJ
- Fiscal year ends
- January 3
- Filer category
- Large accelerated filer
- Business address
- ONE JOHNSON & JOHNSON PLZ, NEW BRUNSWICK, NJ, 08933
- Phone
- 732-524-2455
- Shares outstanding
- 2,407,310,266 as of 2026-10-15 (10-Q filed 2026-10-21)
- Former names
- JOHNSON & JOHNSON ET AL
Recent filings
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