I wonder if the employees in charge of looking for new investments at Johnson & Johnson
Yesterday, the company announced that it had settled some of its long-standing lawsuits with Boston Scientific
Even with its wide breadth, the settlement doesn't cover all of the pending lawsuits between the adversaries. Johnson & Johnson still has two pending lawsuits against Boston Scientific, and there's one lawsuit that goes the other direction.
Boston Scientific already had money set aside in a litigation reserve, so it won't have any problem paying the bill. Johnson & Johnson will take the cash as a one-time special item in the fourth quarter.
The money will make up for the market share that Johnson & Johnson has lost to newcomers in the U.S. drug-eluting stent arena: Abbott Labs
While you wait for the data, Johnson & Johnson, do enjoy your shopping trip.
Todd Wenning thinks now is a good time to double down on dividends.
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