The 133-year-old health care conglomerate makes everything from Band-Aids and baby shampoo to contact lenses and hip implants, but its $40.7 billion pharmaceutical division is what drove the most revenue growth in 2018. The company’s cancer and immunology drugs sold especially well. J&J’s medical device division eked out sales growth despite divestitures, as did the company’s consumer business, which continues to see challenges in its recently relaunched baby care line. The company faces more than 13,000 lawsuits—and federal inquiries—over the safety of its talc-based baby powder. (J&J maintains the product is perfectly safe.)
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CEO Alex Gorsky says his West Point education impacted how he leads at Johnson and Johnson.
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There has been government pressure to push all drugmakers into showing prices in ads.
The drug companies agreed to settle more than 25,000 lawsuits in the U.S. and admit no liability.
The lawsuit alleged that the company's talcum-based baby powder contained asbestos.