Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Johnson & Johnson    JNJ

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Biomet To Settle With DOJ, SEC On Bribery Charges For $22.7Mln

share with twitter share with LinkedIn share with facebook
share via e-mail
03/26/2012 | 05:50pm CEST

Medical-device company Biomet Inc. has agreed to pay about $22.7 million to settle civil and criminal charges stemming from allegations the company's units and agents bribed public doctors in Argentina, Brazil and China for nearly a decade to win business, the Department of Justice and the Securities and Exchange Commission said Monday.

The agencies allege that Biomet and its four units paid bribes from 2000 to August 2008, and employees and managers at all levels of the parent company and the units were involved, along with distributors. Biomet's compliance and internal audit functions failed to stop the payments to doctors even after learning about the illegal practices, the agencies alleged.

A Biomet representative wasn't immediately available for comment.

Biomet agreed to pay a $17.3 million criminal penalty for allegedly violating the Foreign Corrupt Practices Act. In its Justice Department agreement, it is required to implement rigorous internal controls, cooperate fully with the Justice Department and retain a compliance monitor for 18 months. Additionally, the company will pay $5.4 million in disgorgement of profits and prejudgment interest, as part of its separate SEC settlement.

Biomet, a privately held company that sells products used by orthopedic surgeons, is the third medical device firm to enter into a settlement with government agencies as part of the SEC and Justice Department's ongoing global investigation into medical-device companies allegedly bribing publicly employed physicians. Previously, Johnson & Johnson (>> Johnson & Johnson) and Smith & Nephew PLC (SNN, SN.LN) agreed to pay criminal penalties and entered into deferred prosecution agreements related to similar investigations, the Justice Department said.

In January, Biomet said its fiscal second-quarter loss widened as a drop in spine and bone-healing sales as well as higher costs masked the company's revenue growth.

-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; [email protected]

Stocks mentioned in the article : Johnson & Johnson
Stocks mentioned in the article
ChangeLast1st jan.
JOHNSON & JOHNSON 0.10% 121.47 Delayed Quote.-11.45%
SMITH & NEPHEW 0.89% 1359 Delayed Quote.4.58%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on JOHNSON & JOHNSON
04:39aSIGNIFICANT RISE FOR BIOLOGICAL SENS : The report offers a comprehensive evaluat..
05/25STUDY RESULTS FROM JOHNSON & JOHNSON : Pathways and Mechanisms)
05/25JOHNSON & JOHNSON : Janssen Pharmaceutical - New Real-World Study Finds Long-Ter..
05/25JOHNSON & JOHNSON : EU nod for Sandoz Remicade biosimilar Zessly
05/25JOHNSON & JOHNSON : Jury delivers $25M verdict in Johnson & Johnson asbestos cas..
05/25JOHNSON & JOHNSON : Absorbs Another Loss in Baby Powder-Mesothelioma Case
05/25JOHNSON & JOHNSON : Ex-dividend day for
05/24JOHNSON & JOHNSON : Jury awards $25M in Johnson & Johnson baby powder lawsuit
05/24JOHNSON & JOHNSON : Jury recommends $25M in Johnson & Johnson lawsuit
05/24JOHNSON & JOHNSON : to Participate in the Jefferies 2018 Global Healthcare Confe..
More news
News from SeekingAlpha
05/25Kezar Life Sciences on deck for IPO 
05/25My Favorite Rule - Don't Put All Your Eggs In One Basket 
05/25WALL STREET BREAKFAST, MAY 25TH : EU Data Privacy Rules Take Effect; U.S. And Ch.. 
05/25WALL STREET BREAKFAST : New Privacy Bar With GDPR 
05/25Healthcare roundup 
Financials ($)
Sales 2018 81 536 M
EBIT 2018 24 881 M
Net income 2018 16 279 M
Debt 2018 9 501 M
Yield 2018 2,97%
P/E ratio 2018 17,99
P/E ratio 2019 16,69
EV / Sales 2018 4,11x
EV / Sales 2019 3,77x
Capitalization 326 B
Duration : Period :
Johnson & Johnson Technical Analysis Chart | JNJ | US4781601046 | 4-Traders
Technical analysis trends JOHNSON & JOHNSON
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 145 $
Spread / Average Target 19%
EPS Revisions
Alex Gorsky Chairman & Chief Executive Officer
Dominic J. Caruso Chief Financial Officer & Vice President
Paulus Stoffels Chief Scientific Officer & Executive VP
Charles O. Prince Independent Director
William David Perez Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
JOHNSON & JOHNSON-11.45%325 801
PFIZER-1.16%209 941
NOVARTIS-6.94%193 872
ROCHE HOLDING LTD.-9.17%190 404
AMGEN1.38%117 757