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Johnson & Johnson announced FDA approval for its prostate cancer therapy, Akeega plus prednisone, targeting metastatic castration-sensitive prostate cancer with BRCA mutation. The approval follows a phase 3 study showing a 54% reduction in radiographic progression or death risk and a 59% delay in symptomatic progression. The safety profile aligns with other FDA-approved therapies.
Johnson & Johnson was hit with a $40 million verdict by the Los Angeles Superior Court over talc-based baby powder allegedly causing ovarian cancer. The award covers compensatory damages for plaintiffs Monica Kent and Deborah Schultz and Schultz's husband. The verdict followed a four-week trial with testimony from former FDA commissioner David Kessler. More trials are expected through H1 2026. Johnson & Johnson did not immediately respond to requests for comment.
American Trust increased its stake in Broadcom Inc. by 72.1% in Q2, owning 9,603 shares valued at $2.65 million. Other institutional investors like Vanguard, State Street, and Geode Capital also adjusted their holdings. Broadcom's stock performance shows a 52-week range of $138.10 to $414.61, with a market cap of $1.70 trillion. The company reported Q4 earnings of $1.95 per share, beating estimates, and announced a dividend increase to $0.65 per share.
American Trust increased its stake in AbbVie Inc. by 36.8% in Q2, now holding shares worth $4.43 million. Several other institutional investors also bought shares. Analysts have given AbbVie a consensus rating of 'Moderate Buy' with an average price target of $244.55. AbbVie reported Q3 earnings of $1.86 per share, beating estimates, and increased its quarterly dividend to $1.73. The company has a market cap of $394.92 billion and a PE ratio of 169.28.
South Korea and Taiwan stocks fell due to AI investment cost concerns, with South Korea down 1.8% and Taiwan 1.2%. The Thai baht hit a four-year high, pressuring policymakers. Central banks in Thailand, Indonesia, and Taiwan are in focus for upcoming policy decisions. South Korean shares have risen 71% this year, while Taiwanese stocks are up 21%. The Bank of Thailand may cut interest rates to curb baht strength.
