Reuters | |

Johnson & Johnson has been ordered by a New York state judge to pay $120 million in damages to a Brooklyn woman and her husband, after she blamed her cancer on asbestos exposure from using the company’s baby powder.

Justice Gerald Lebovits of the state supreme court in Manhattan reduced the payout from the $325 million a jury awarded Donna Olson, 67, and Robert Olson, 65, in May 2019 following a 14-week trial.

While upholding the jury’s liability finding, Lebovits wrote on Nov. 11 that the damages were too high, and the Olsons could either accept $120 million or have a new trial on damages.

Reuters | |

Compared to the general public, New York City firefighters and emergency medical workers were 15 times more likely to be infected with the new coronavirus during the first wave of the pandemic, researchers reported on Thursday in ERJ Open Research. They studied nearly 10,800 firefighters and 3,500 emergency medical technicians (EMTs) and paramedics. From the beginning of March to the end of May, 36.2% of these front-line workers were either confirmed as having the virus with a positive PCR viral test or suspected as having COVID-19 due to their symptoms.

Equities Staff | |

Johnson & Johnson has agreed to pay more than $100 million to resolve over 1,000 lawsuits that have claimed that the company's talc-based baby powder caused cancer, according to a report by Bloomberg News, citing people with knowledge of the settlements.

While there are still nearly 20,000 lawsuits pending around J&J's iconic baby powder, these agreements represent the first time that the company has settled the bulk of cases brought by an attorney — or in this instance, by three different law firms.

Reuters | |

Attorneys for Bayer AG and consumers suing the company over allegations its Roundup weedkiller caused cancer told a judge on Thursday they are continuing to resolve thousands more cases, improving prospects for its $11 billion deal to end the litigation.

The hearing was a contrast to the contentious tone among the parties last month that raised concerns the framework deal might unravel.

Ken Feinberg, who is mediating talks, said his “optimism knows no bounds,” and that he expected the next set of cases scheduled for trial to soon settle.

U.S. District Judge Vince Chhabria in San Francisco kept a stay on litigation until Nov. 2 and asked the parties for a status update at that time.

Edward Kim | |

One of the most anticipated IPOs of the year appears to be heading down the acquisition track instead. Bloomberg reports today that Grail, which has raised over $1.9 billion from venture capitalists and strategic partners in just four years, is in discussions to be acquired by Illumina, the DNA sequencing giant that spun out Grail in 2016.

Grail had filed its Form S-1 to go public just last week. Though the filing listed a transaction size of just $100 million, investors and analysts we...

Reuters | |

Gilead Sciences Inc will acquire biopharmaceutical company Immunomedics Inc for $21 billion in a deal that would further expand Gilead's portfolio of cancer treatments, the companies said in a statement on Sunday.

The deal provides Gilead access to Immunomedics’ breast cancer treatment drug, Trodelvy, which was granted an accelerated FDA approval in April.

Gilead said it would issue a tender offer to bu...

AP News | |

Chadwick Boseman, who played Black American icons Jackie Robinson and James Brown with searing intensity before inspiring audiences worldwide as the regal Black Panther in Marvel’s blockbuster movie franchise, died Friday of cancer. He was 43.

Boseman died at his home in the Los Angeles area with his wife and family by his side, his publicist Nicki Fioravante told The Associated Press.

Boseman was diagnosed with colon cancer four years ago, his family said i...

Equities Staff | |

German biotechnology firm CureVac will begin trading today on Nasdaq under symbol CVAC. The company sold 13,333,333 shares at $16, the top end of the filing range, raising gross proceeds of $213 million.

The deal, brought by bookrunners BofA Securities, Jefferies and Credit Suisse, values CureVac at $2.8 billion.

The company's pipeline is based on messenger ribonucleic acid, or mRNA, which plays a central role in the production of proteins in every cell in the body. CureVac ...

Reuters | |

A Texas man who waited until his brain tumor was softball-sized; a baby who suffered an ear infection for six days; a heart patient who died: The resurgence of COVID-19 is creating another health crisis as hospitals fill and patients are fearful or unable to get non-emergency care.

With U.S. coronavirus infections reaching new heights, doctors and hospitals say they are also seeing sharp declines in patients seeking routine medical care and scre...

Reuters | |

(Reuters) - More than 170 nonprofit groups on Wednesday called for Johnson & Johnson to stop selling its talc-based Johnson’s Baby Powder world-wide, citing concerns that it contains cancer-causing asbestos, according to a statement from advocacy group Black Women for Wellness.

The groups, which include educational institutions such as Emory University and activist groups such as Greenpeace, among others, also want the company to recall existing inventory in North America.