Plaintiffs in hundreds of Risperdal lawsuits pending in Pennsylvania’s Philadelphia Court of Common Pleas are urging the Court to reject Johnson & Johnson (NYSE:JNJ)’s bid for summary judgment on punitive damages in claims involving Risperdal and gynecomastia, or male breast growth, Bernstein Liebhard LLP reports. In a motion dated March 24, 2014, plaintiffs asserted that Pennsylvania state law should be applied to such claims. However, Johnson & Johnson argued in February that the New Jersey Product Liability Act, which bars punitive damages in cases involving drugs that have received premarket approval from the U.S. Food & Drug Administration (FDA), should apply to the cases, as the company is headquartered in that state. Johnson & Johnson (NYSE:JNJ) shares after opening at $98.00 on last trade day and at the end of the day closed at $98.23. Company price to sales ratio in past twelve months was calculated as 3.90 and price to cash ratio as 9.51. Johnson & Johnson (NYSE:JNJ) showed a positive weekly performance of 3.18%.
Abbott Laboratories (NYSE:ABT) received a boost for its vascular portfolio when it announced that the U.S. Food and Drug Administration (FDA) approved its Supera peripheral stent system for the treatment of people with blocked blood vessels in the upper leg caused by peripheral artery disease (PAD). Abbott Laboratories (NYSE:ABT) shares advanced 0.52% in last trading session and ended the day on $38.51. ABT return on equity ratio is recorded as 13.30% and its return on assets is 7.20%. Abbott Laboratories (NYSE:ABT) yearly performance is 14.14%.
The U.S. Supreme Court agreed to hear an appeal by Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) in a move that may delay generic competition to the company’s top-selling Copaxone multiple-sclerosis drug and alter how patent appeals are handled. Teva rose on the news. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) shares moved up 6.86% in last trading session and was closed at $52.84, while trading in range of $49.60 – $52.94. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) year to date (YTD) performance is 32.80%.
Zoetis Inc.(NYSE:ZTS) will host a webcast and conference call at 8:30 a.m. (EDT) on Tuesday, May 6, 2014. Chief Executive Officer Juan Ramón Alaix and Executive Vice President and Chief Financial Officer Rick Passov will review first quarter 2014 financial results and respond to questions from financial analysts during the call. Zoetis Inc (NYSE:ZTS) weekly performance is -0.69%. On last trading day company shares ended up $28.94. Zoetis Inc (NYSE:ZTS) distance from 50-day simple moving average (SMA50) is -4.39%. Analysts mean target price for the company is $34.75.