Johnson & Johnson CEO said Trump’s tariffs on drugs could cause problems in the drug supply chain.
In an investor’s call, CEO Joaquin Duato told colleagues that he should work with the Trump administration to address supply chain vulnerabilities that could result from tariffs.
The statement appeared to be an effective call for the Trump administration to ease reproductive and drug tariffs from China.
But at the same time, Johnson & Johnson reported strong first quarter revenues exceeding Wall Street estimates, Reuters It is listed.
The drug giant has a detailed plan to increase US investment by 25% over the next four years (several commitments have already been made, totaling over $55 million), according to the report.
Sales are projected to be around $700 million in 2025, and future nasal sprays, which are said to treat depression, are expected to generate revenues of between $3 billion and $3.5 billion per year by 2028.
After a third failed bankruptcy attempt, the company faces more than 90,000 lawsuits from families claiming that a talc-based Johnson & Johnson product was contaminated with asbestos and caused ovarian cancer after use.
Litigation Information Center It has been reported The Bankruptcy Court rejected Johnson & Johnson’s $9 billion settlement proposal. It is evenly divided into 90,000 cases, with the figures equivalent to $100,000 per case.
At least 3,500 claimants are from the UK, making the case one of the biggest class action lawsuits in English and Welsh history. The majority of claimants are women, but some men are included in the claims that the company’s powdered products also contain asbestos, which also caused cancer.
According to Guardianthe number of lawsuits has almost doubled since November 2024.
‘[Duato] He oversaw the company’s rapid response to the Covid-19 pandemic.
As for CEO Duato, it was one of the most profitable years of his career after his income rose to $28.4 million in 2023, reaching $13.1 million per year as CEO in 2022. Intense drugs.
Duato is a dual citizen of the US and Spain and started with Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson. 2021, Biological space Duato sat on the Unicef USA board of directors, while Fox Business It’s attracting attention He is an executive sponsor of Johnson & Johnson’s African Ancestor Leadership Council.
Duato was also praised by his company for his work during Covid-19:
“[Duato] We have overseen our rapid response to the Covid-19 pandemic, led the adjustment of our global initiatives to protect the health of our employees and ensure continuity in our business and supply chains,” the company’s release states.
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