Johnson & Johnson (NYSE:JNJ) is one of the stocks in Jim Cramer’s game plan for this week. Cramer expects the most from JNJ out of all the companies in the pharmaceutical industry, as he commented:
“Beyond the banks, we hear from Johnson & Johnson, which should have the strongest numbers of any pharmaceutical company. The stock shrugged off a bad loss in one of those talc lawsuits where the plaintiff accused J&J of knowingly selling a product that contained a carcinogen, asbestos. I think that the stock didn’t go down, but actually went up… decided the stock’s finally stopped being hostage to these interminable lawsuits.”
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Johnson & Johnson (NYSE:JNJ) develops, manufactures, and markets healthcare products across pharmaceuticals and medical technologies. During the October 1 episode, Cramer highlighted his interview with the company’s CEO and said:
“What else might work? Last Friday on the show, we had Joaquin Duato. He’s the CEO of Johnson & Johnson, and he told a remarkable story about game-changing cancer drugs and medical devices, especially their excellent cardio products. Now, I’ve been worried about the talc lawsuits that they have, but I believe the risk from the asbestos and the baby powder litigation has crested as J&J’s been winning the cases, and it’s planning to keep fighting them one by one. Eventually, I bet the plaintiffs will realize it’s just too costly to keep on taking J&J.”
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Disclosure: None. This article is originally published at Insider Monkey.