Most of 2020 has been rough and Johnson & Johnson was not spared. The New Brunswick-based pharmaceutical giant spent much of the year in court fighting allegations that its talcum powder was responsible for cases of ovarian cancer because of asbestos in the product.
The parties agreed to a $100 million settlement in October, but the company faces a more daunting task with a potential appeal to the U.S. Supreme Court over a $2.1 billion verdict over claims related to its baby powder.
But the 133-year-old drugmaker is one of nine largest in the U.S. and Europe racing to develop vaccine for COVID-19. That’s a key development to bringing the virus under control and then gradually lifting the myriad restrictions imposed to stop the spread of the virus. Those restrictions have worked, but have choked the economy and upended normalcy for many Americans.
Johnson & Johnson was beaten to the punch by Pfizer, and then Moderna, and then AstraZeneca. But with the nation jockeying for a limited supply of doses, another proven COVID-19 vaccine wo++uld be welcome news.
Gorsky is one of seven leaders who served the dual role since the company was listed on the New York Stock Exchange in 1944. He began his Johnson & Johnson career as a sales representative with Janssen Pharmaceutica, climbing up the ladder until he was tapped as the Chairman and CEO in 2012.
The Medical Device sector is at the forefront of applying cutting-edge technology to surgery, vision care, orthopedics, and interventional solutions. And the Consumer Health business continues to evolve its portfolio of both iconic heritage brands and innovative standouts in self-care and skin health.