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Johnson & Johnson may Face New Lawsuits Over Low-quality Talc

3/16/2023 2:40 PM

The shares of Johnson & Johnson, one of the world's leading retail holdings, are correcting at 154.00.

The company remains in the spotlight due to lawsuits in the United States regarding the supply of low-quality talc in cosmetic products. Yesterday it became known that a resident of Carolina managed to win a court hearing against Whittaker, Clark & Daniels Inc. in the amount of 29.14M dollars, where Johnson & Johnson acted as a defendant but did not take part in the proceedings. The decision in favor of the plaintiff was an important precedent that could threaten the corporation with a mass of lawsuits in similar cases, which it is likely to lose.

Due to a recent law requiring drug manufacturers to pay price differences if they exceed the average inflation rate, the company may face additional costs: according to preliminary information, Johnson & Johnson has at least one drug that meets these criteria, and a refusal to pay the difference threatens the issuer with a fine of 125.0% of the discount amount.

On the daily chart, the trading instrument is correcting downwards, holding near the low of the year around 151.00.

Technical indicators maintain a sell signal: fast EMAs on the Alligator indicator are well below the signal line, and the AO histogram is forming downward bars below the transition level.

Resistance levels: 156.00, 161.00. | Support levels: 151.00, 146.00.

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