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Latest From NOBEX Corporation
Asia Deal Watch: Ono Calls On PRISM BioLab’s Capabilities
Plus transactions involving Nissan Chemical/Sanwa Kagaku, Memel/Therabest, Chugai/Alnylam, Takeda/Kumquat, Nxera/Handok, 3SBio/CStone and deals in brief.
Kenvue Cutting Staff 4% After Year Apart From J&J
Along with latest results, Kenvue says as its “transitions services agreement” with J&J ends, its board approves reducing global workforce by around 4%. It expects around $275m in pre-tax restructuring costs in both 2024 and 2025 without changes to its capital allocation priorities.
J&J Tees Up Proposal To Settle Complaints Alleging Talc Caused Ovarian Cancer
J&J executives are confident the proposal to pay plaintiffs making ovarian cancer claims a total of $6.48bn over 25 years will be accepted, resolving 99.75% of those lawsuits pending against it and US affiliates. The proposal allows individual plaintiffs direct say on whether to accept it.
Finance Watch: Earnings Season Brings Job Cuts, Even At Big Pharma
Restructuring Edition: Even big pharma companies are not immune from workforce reductions. BMS and Sanofi joined that ranks of Evotec, CureVac and BenevolentAI in cutting jobs. Also, Vaxxinity will de-list and Hepion winds down its NASH trial, among other strategic updates.
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