On July 28, Johnson & Johnson rose 3.09% in pre-market trading, trading at $273.25/share, with turnover of $3.60 million.

On the news front, Johnson & Johnson announced it will pay up to $5.5 billion to settle approximately 76,000 lawsuits alleging its talc products caused ovarian cancer, aiming to bring finality to litigation spanning fifteen years. The first payment is capped at $3 billion in 2027, with no further payments due before 2028. The deal is conditioned on approval from law firms representing at least 95% of the remaining claimants in state and federal courts. The company cited a favorable ruling by the Multi-District Litigation court and stated that plaintiffs' counsel acknowledged the inability to prove that its talc products caused any particular claimant's ovarian cancer. Johnson & Johnson has consistently denied its talc products are carcinogenic, maintaining that scientific research supports product safety. The settlement marks a landmark resolution that removes a significant legal overhang that has weighed on investor sentiment for over a decade.

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