Healthcare product company, Johnson & Johnson(JNJ) failed to get approval for its blood thinning drug Xarelto.
The company was unable to receive approval for the expansion of their blood thinner Xarelto, which is a drug used to prevent heart attacks and strokes in patients with serious chest pain or history of cardiac illness.
Xarelto, which is a drug designed to replace the existing drug, warfarin was questioned by the FDA about its ability to reduce risks to patients with acute coronary syndrome. Warfarin is a 50 year old drug which requires constantly monitoring and adjustments to prevent blood from getting too thin.
JNJ reported that Xarelto was approved in July 2011 for the use in patients undergoing knee and hip surgeries, but was expanded to patients with irregular heart beats and leg and lung blood clots.
Johnson & Johnson shares were up 45 cents, or 0.58% during Tuesday morning trading. The stock has increased 20% in the past year.
The Bottom Line
Shares of Johnson & Johnson(JNJ) have a 3.14% yield, based on Tuesday morning’s price of $77.63.
Johnson & Johnson(JNJ) is a “Recommended” dividend stock at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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