What does big pharma Johnson & Johnson (NYSE: JNJ) have in common with biotech Moderna (NASDAQ: MRNA)? Last week, however, Johnson & Johnson said it would discontinue its adult RSV program. Could the J&J news eventually translate into billions of dollars for Moderna?
Here's why they chose Axsome Therapeutics (NASDAQ: AXSM), Johnson & Johnson (NYSE: JNJ), and Pfizer (NYSE: PFE) as opportunities that especially stand out. Prosper Junior Bakiny (Axsome Therapeutics): Last year, Axsome Therapeutics' share price doubled, partly due to the FDA approving its depression medicine Auvelity for use. The company's stock is down by 19% since the start of the year.
A Johnson & Johnson company cannot delay a court order dismissing its bankruptcy, a U.S. court said on Friday, despite the company's planned Supreme Court appeal to use bankruptcy to resolve tens of thousands of lawsuits over its talc products. J&J sought to use the bankruptcy of its subsidiary company, LTL Management, to halt more than 38,000 lawsuits alleging the company's Baby Powder and other talc products are contaminated with asbestos. J&J maintains its consumer talc products are safe and asbestos-free.