Since Johnson & Johnson rebranded its pharmaceutical business from Janssen to Johnson & Johnson Innovative Medicine a year ago, the company narrowed its focus to three therapeutic areas: oncology, immunology and neuroscience products.

In support of that mission, the New Brunswick-based pharmaceutical and medical technologies giant saw several strategic acquisitions in 2024, including: Yellow Jersey Therapeutics for $1.25 billion, Proteologix Inc. for $850 million, Shockwave Medical for $13.1 billion, Ambrx Biopharma for $2 billion and V-Wave for $1.7 billion.

The 135-year-old company also spent $15 billion on research & development, with significant investment in New Jersey at its state-of-the-art manufacturing and research facilities.

J&J also made headlines this year for being among the many drugmakers who filed lawsuits questioning the constitutionality of a new federal program requiring companies to negotiate with Medicare on drug prices. So far, none of those cases have been successful.

Additionally, J&J continues to address tens of thousands of lawsuits claiming its talc-based baby powder caused cancer.

Currently, the company is seeking plaintiff approval for a reported $8 billion settlement to resolve more than 50,000 complaints related to ovarian cancer. Under the terms, J&J would resolve cases through a third bankruptcy filing of a subsidiary created to absorb talc liability. Federal judges rejected two prior attempts, ruling that the parent company was financially capable of paying claims without bankruptcy protection.

The company – which maintains its talc products are safe – has said it will continue to defend itself against the lawsuits while trying to gather votes for the settlement. According to J&J, it has resolved about 95% of mesothelioma cases out of court.