The 132-year-old company, which specializes in pharmaceuticals, consumer health care, and medical devices, sells a wide array of health and beauty products including the Johnson’s Baby line, Neutrogena, Listerine, Band Aids, Tylenol, and Motrin. The company has been at the center of lawsuits concerning products that contain talc and their possible link to ovarian cancer and lung-related cancers, and has also been sued in connection with the U.S. opioid epidemic. But even amid legal conflicts and competition and pricing pressures in the industry, the company saw domestic sales increase 5.4% and international sales increase 7.4% in 2017. The company raised its sales outlook for 2018 due to the high performance of its pharmaceutical business, particularly cancer drugs.
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CEO Alex Gorsky says his West Point education impacted how he leads at Johnson and Johnson.
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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.