Wednesday, April 22, 2009

LIVE-BLOG: Johnson and Johnson's Annual Meeting Tomorrow at 10 am




▲ 11:40 AM -- CEO William Weldon would love to answer a shareholder's question, on Remicade/Simponi rights (at 1 hour, 40 minutes into the webcast), but he fears his "lawyers will shoot" him -- so, instead, he says: "we are very much engaged -- we are not sitting back and doing nothing -- we will notify you when we have resolved this issue. . . ." Well, that sounds decidedly unlike he's contemplating any outright bid (of any kind) for SGP (note the word "issue" in his remark -- not a word like "deal", or similar). Nope, that sounds more like he's ultimately going to be "seeking arbitration" -- for a return of at least part of the Remicade/Simponi rights.

▲ Earlier: William Weldon just announced an increase in the dividend to $0.49 a quarter.

▲ TIAA-CREF (holder of over $1 billion of JNJ stock) just moved for an advisory "Say on Pay" proposal (much like the SEC proposes) -- CEO Weldon said that the Board of Directors opposes this resolution. [It did not pass.]

~~~~~~~~~~~~~~


Tomorrow morning, starting at 10:00 am EDT, I'll live-blog any portion of the J&J annual shareholders' meeting that mentions the Schering-Plough Remicade/Simponi reversion of rights dispute. Merck took a "no comment, at this time" on the topic yesterday morning (and Schering-Plough wasn't even asked about it). If you'd like to listen along, tune in here, to register tomorrow around 9:55 am.
. . . .Upcoming Events

April 23, 2009
10:00 AM ET:

Johnson & Johnson Annual Meeting of Shareholders. . . .

3 comments:

Anonymous said...

I wish not agree on it. I regard as precise post. Especially the title attracted me to review the sound story.

Anonymous said...

Good dispatch and this mail helped me alot in my college assignement. Say thank you you as your information.

Anonymous said...

Easily I to but I dream the brief should have more info then it has.