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59-484: Purell was acquired by Johnson & Johnson in 2006, then reacquired by GOJO in 2010. That year, Purell Green Certified Instant Hand Sanitizer became the first hand sanitizer to meet EcoLogo CCD-170 standards. In early 2020, some of Purell's claims, including that it kills "99.99% of most common germs", have been met with regulatory warning to desist the claim. During the 2020 COVID-19 pandemic , GOJO faced unprecedented demand for Purell products due to its reputation as

118-478: A bond , but also the corporations itself. Ratings are assigned by credit rating agencies , the largest of which are Standard & Poor's , Moody's and Fitch Ratings . They use letter designations such as A, B, C. Higher grades are intended to represent a lower probability of default . Agencies do not attach a hard number of probability of default to each grade, preferring descriptive definitions such as: "the obligor's capacity to meet its financial commitment on

177-457: A clinical trials of J&J's vaccine in September 2020, with the possibility of Phase 1/2a human clinical trials starting at an accelerated pace in the second half of July. Credit rating A credit rating is an evaluation of the credit risk of a prospective debtor (an individual, a business , company or a government). It is the practice of predicting or forecasting the ability of

236-538: A leading name-brand for hand sanitizer. Almost immediately, as cases began to rise in the United States, Purell products ran out-of-stock and remained largely unavailable to the general public, with new shipments being prioritized to medical and professional customers. Purell's products were still hard to find in July 2020, despite GOJO producing more than twice the amount of hand sanitizer in 2020 than in 2019. GOJO has stated it

295-539: A letter to Franklin D. Roosevelt , calling for a federal law to increase wages and reduce hours for all American workers. The company also opened a new facility in Chicago during that period. Johnson wrote and distributed "Try Reality: A Discussion of Hours, Wages, and The Industrial Future" to persuade business leaders to follow his lead, advocating that business is more than profit and that companies have responsibilities to consumers, employees, and society. In "Try Reality",

354-475: A not-for-profit level." Janssen Vaccines , in partnership with Beth Israel Deaconess Medical Center (BIDMC), is responsible for developing the vaccine candidate, based on the same technology used to make its Ebola vaccine . The vaccine candidate is expected to enter phase 1 human clinical study in September 2020. Demand for the product Tylenol surged two to four times normal levels in March 2020. In response,

413-553: A patent on the tuberculosis-treating drug bedaquiline , with secondary patents in at least 25 out of 43 countries with a high burden of tuberculosis blocking affordable generic versions of the drug, preventing millions of people from accessing the life-saving treatment. Though the patent was set to expire in many countries in 2023, Johnson & Johnson applied to extend the patent. On July 13, 2023, Stop TB Partnership announced that after negotiations with Johnson & Johnson, they had been granted licenses to produce generic versions of

472-627: A presence in Hungary, Russia, the Czech Republic , and Poland. In the 1990s, the company acquired many familiar consumer health brands that made up the Johnson & Johnson family of companies. These acquisitions included Clean & Clear , Neutrogena , Motrin , and Aveeno . Johnson & Johnson opened an operating company in Israel in 1996. In 1997, Johnson & Johnson acquired Biosense Webster. DePuy

531-414: A supposed debtor to pay back the debt or default . . The credit rating represents an evaluation from a credit rating agency of the qualitative and quantitative information for the prospective debtor, including information provided by the prospective debtor and other non-public information obtained by the credit rating agency's analysts. Credit reporting (or credit score ) is a subset of credit rating. It

590-494: A textile mill and company town, Chicopee, outside Gainesville, Georgia. In the 1930s, the company expanded operations to Argentina, Brazil, Mexico, and South Africa. In 1931, Johnson & Johnson introduced the first prescription contraceptive gel marketed as Ortho-Gynol. Robert Wood Johnson II became president of the company in 1932. During The Great Depression Johnson & Johnson kept all its workers employed and raised wages by 5%. In 1933, Robert Wood Johnson II wrote

649-470: A washcloth; safety pins; sterile sutures, sponges, and gauze; antiseptic soap; an obstetric sheet and ligatures; flannel to wrap the baby in; and a chart for keeping birth records. The products were later marketed separately, including "Lister's Towels", the world's first mass-produced sanitary napkins. Kilmer wrote "Hygiene in Maternity", an instructional guide for mothers before and after delivery. In 1904,

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708-506: Is a numeric evaluation of an individual's credit worthiness, which is done by a credit bureau or consumer credit reporting agency . A sovereign credit rating is the credit rating of a sovereign entity, such as a national government. The sovereign credit rating indicates the risk level of the investing environment of a country and is used by investors when looking to invest in particular jurisdictions, and also takes into account political risk . The " country risk rankings" table shows

767-550: Is currently investing in further strategies to source ingredients and substantially increase manufacturing space for use by mid-2021. Pfizer acquired the exclusive rights to distribute Purell in the consumer market from GOJO Industries in 2004, and on June 26, 2006, Johnson & Johnson announced its acquisition of the Pfizer Consumer Healthcare division, which includes the Purell brand. In 2010, GOJO Industries bought

826-557: Is one of the world's most valuable companies and is one of only two U.S.-based companies that has a prime credit rating of AAA. Robert Wood Johnson began his professional training at age 16 as a pharmaceutical apprentice at an apothecary run by his mother's cousin, James G. Wood, in Poughkeepsie, New York. Johnson co-founded his own company with George Seabury in 1873. The New York-based Seabury & Johnson became known for its medicated plasters. Robert Wood Johnson represented

885-555: The 1906 San Francisco earthquake . Johnson & Johnson vaccinated all of its employees against smallpox during the 1901 smallpox epidemic. The firm employed more than 1,200 people by 1910. Women accounted for half of the company's workforce and led a quarter of its departments. Robert Wood Johnson died in 1910, and he was succeeded as president of the company by his brother James Wood Johnson. During World War I , Johnson & Johnson factories increased production to meet wartime demands for sterile surgical products. In 1916,

944-507: The Assistant Secretary for Preparedness and Response (ASPR) at the U.S. Department of Health and Human Services (HHS). Paul Stoffels of Johnson & Johnson said, "In order to go fast, the people of Johnson & Johnson are committed to do this and all together we say we're going to do this not for profit. That's the fastest and the best way to find all the collaborations in the world to make this happen so we commit to bring this at

1003-709: The New York Stock Exchange . Its common stock is a component of the Dow Jones Industrial Average , and the company is ranked No. 40 on the 2023 Fortune 500 list of the largest United States corporations. In 2023, the company was ranked 40th in the Forbes Global 2000 . Johnson & Johnson has a global workforce of approximately 130,000 employees who are led by the company's current chairman and chief executive officer, Joaquin Duato . Johnson & Johnson

1062-642: The Human Performance Institute. In October 2010, J&J acquired Crucell for $ 2.4 billion. The subsidiary operates as the centre for vaccines, within Johnson & Johnson pharmaceuticals business group. In 2012, Alex Gorsky became chairman and CEO of Johnson & Johnson. In November 2015, Biosense Webster, Inc. acquired Coherex Medical Inc. expanding the company's range of treatment options for patients with atrial fibrillation. In 2017, Johnson & Johnson acquired Abbott Medical Optics from Abbott Laboratories for $ 4.325 billion, adding

1121-665: The bonds' rating. (See "Basis point spread" in table to right.) Looking at rated bonds for 1973–89, the authors found a AAA-rated bond paid 43 " basis points " (or 43/100 of a percentage point) over a US Treasury bond (so that it would yield 3.43% if the Treasury yielded 3.00%). A CCC-rated "junk" (or speculative) bond, on the other hand, paid over 7% (724 basis points) more than a Treasury bond on average over that period. Different rating agencies may use variations of an alphabetical combination of lowercase and uppercase letters, with either plus or minus signs or numbers added to further fine-tune

1180-485: The brand back from Johnson & Johnson. Purell adds an unpleasant bitter taste to its product to discourage ingestion. Since Purell has been available, the accidental or intentional ingestion of its products has been rare. The Chicago Tribune reported that children have become inebriated by ingesting Purell. One child's ingestion of the hand sanitizer caused her blood alcohol level to reach 0.218%; Purell contains 70% ethyl alcohol. The product packaging recommends that

1239-570: The company acquired Chicopee Manufacturing Company in Chicopee Falls, Massachusetts , to meet demand. Near the end of World War I, the 1918 flu pandemic broke out. The company invented and distributed an epidemic mask that helped prevent the spread of the flu. In 1919, Johnson & Johnson opened the Gilmour Plant near Montreal, its first factory outside the United States, which produced surgical products for international customers. In 1924

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1298-501: The company acquired subscription-based contact lens startup Sightbox. In September of the same year Johnson & Johnson Medical GmbH acquired Emerging Implant Technologies GmbH, manufacturer of 3D-printed titanium interbody implants for spinal fusion surgery. In March 2019, the FDA approved esketamine for the treatment of severe depression, which is marketed as Spravato by Janssen Pharmaceuticals. In 2019, Johnson & Johnson announced

1357-507: The company at the 1876 World's Fair. There he heard Joseph Lister 's explanation of a new procedure: antiseptic surgery. Johnson parted ways with his business partner Seabury in 1885. Robert Wood Johnson joined his brothers, James Wood Johnson and Edward Mead Johnson , and created a line of ready-to-use sterile surgical dressings in 1886. They founded Johnson & Johnson in 1886 with 14 employees, eight women and six men. Johnson & Johnson opened its first factory building in

1416-528: The company developed the RhoGAM vaccine. The vaccine prevented Rh hemolytic disease in newborns. In 1969, Ortho Diagnostics, a company subsidiary, launched the Sickledex Tube Test for detecting anemia. The same year, the FDA approved the Johnson & Johnson arterial graft. In 1971, the company launched Hapindex Diagnostic Test, a rapid hepatitis B test for blood donors. The test was developed to prevent

1475-475: The company expanded its baby care products with "Lister's Sanitary Diapers", a diaper product for infants. During the Spanish–American War , Johnson & Johnson developed and donated 300,000 packaged compressed surgical dressings for soldiers in the field and created a trauma stretcher for field medics. The company donated its products in disaster relief efforts of the 1900 Galveston hurricane and

1534-739: The company increased production globally. For example, the Tylenol plant in Puerto Rico ran 24 hours a day, seven days a week. In response to the shortage of ventilators, Ethicon, with Prisma Health , made and distributed the VESper Ventilator Expansion Splitter, which uses 3D printing technology, to allow one ventilator to support two patients. In June 2020, Johnson & Johnson and the National Institute of Allergy and Infectious Diseases (NIAID) confirmed its intention to start

1593-597: The company opened its first Asia-based operating company in the Philippines. The following year, an operating company opened in India. In 1959, Johnson & Johnson acquired McNeil Laboratories. A year later, the company sold Tylenol for the first time without a prescription. In the same year, Cilag Chemie joined Johnson & Johnson as Cilag. In 1961, Johnson & Johnson acquired Janssen Pharmaceuticals , which had been founded in 1953 by Belgian scientist Paul Janssen ,

1652-494: The company was preparing for its initial public offering (IPO), Robert Wood Johnson wrote what the company would call, "Our Credo", a defining document that has been used to guide the company's decisions over the years. The company completed its IPO and became a public company in 1944. In 1943, Vesta Stoudt identified a need for waterproof tape for ammunition boxes in World War Two . She wrote to Franklin D. Roosevelt with

1711-575: The company's chairman and CEO. During Burke's tenure, he managed the 1982 Tylenol tampering incident. It became a case study on crisis management. Under his leadership, the company recalled 31 million bottles of Tylenol, relaunched the product with a triple tamper-evident seal, and urged consumers not to use if tampered with. These practices became the pharmaceutical and packaged food industry norm. Johnson & Johnson opened operating companies in China and Egypt in 1985. In 1987, Acuvue contact lenses became

1770-595: The company's claims. The product is flammable, as mentioned in the product label. Besides ethyl alcohol, it contains Water, Isopropyl Alcohol, Caprylyl Glycol, Glycerin, Isopropyl Myristate, Tocopheryl Acetate, Acrylates/C10-30 Alkyl Acrylate Copolymer, Aminomethyl Propanol, & Fragrance. Johnson %26 Johnson Johnson & Johnson ( J&J ) is an American multinational pharmaceutical , biotechnology , and medical technologies corporation headquartered in New Brunswick, New Jersey , and publicly traded on

1829-464: The company's first overseas manufacturing facility was opened in Slough , England. In 1920, Earle Dickson combined two Johnson & Johnson products, adhesive tape and gauze, to create the first commercial adhesive bandage. Band-Aid Brand Adhesive Bandages began sales the following year. In 1921, the company released Johnson's Baby Soap. Named after its Massachusetts facility, Johnson & Johnson built

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1888-403: The company's portfolio. In the same year, Johnson & Johnson's Janssen Pharmaceuticals, launched Prezista , a protease inhibitor for patients with failed previous HIV therapies. In 2008, Johnson & Johnson acquired Mentor Corporation for $ 1 billion and merge its operations into Ethicon. In 2009, the company acquired HealthMedia, later renamed to Health & Wellness Solutions and

1947-650: The drug. Johnson & Johnson announced several acquisitions in 2024: Ambrx Biopharma for $ 2 billion (in January), Shockwave Medical for $ 13.1 billion (in April), and Proteologix for $ 850 million (in May). Johnson & Johnson committed over $ 1 billion toward the development of a not-for-profit COVID-19 vaccine in partnership with the Biomedical Advanced Research and Development Authority (BARDA) Office of

2006-469: The first disposable contact lenses available to consumers. The lenses lasted up to one week, reducing the cost of contact lenses. In the same year, the company launched One Touch, a blood glucose monitoring system. In 1989, Ralph S. Larsen was appointed chairman and CEO of the company. After the dissolution of the Soviet Union , Johnson & Johnson expanded into eastern Europe. By 1991, the company had

2065-459: The highest ratings given to countries like Spain, Ireland and Italy, because they affect how much banks can borrow against sovereign debt they hold. A. M. Best rates from excellent to poor in the following manner: A++, A+, A, A−, B++, B+, B, B−, C++, C+, C, C−, D, E, F, and S. The CTRISKS rating system is as follows: CT3A, CT2A, CT1A, CT3B, CT2B, CT1B, CT3C, CT2C and CT1C. All these CTRISKS grades are mapped to one-year probability of default. Under

2124-456: The idea; the president commissioned Revolite, a subsidiary of Johnson & Johnson at the time, to develop and manufacture a cloth-based adhesive tape. In 1944, the company began selling Johnson's Baby Lotion. The same year, the company established Ethicon Suture Laboratories. In 1947, G. F. Merson Ltd. was acquired to expand the company's suture business in the United Kingdom. The company

2183-637: The inventor of Fentanyl . In 1963, Philip B. Hofmann succeeded Robert Wood Johnson as chairman and CEO. He was the first non-Johnson family member to become chief executive. Hofmann also helped found the Robert Wood Johnson Foundation . In the same year, the Food and Drug Administration approved a synthetic hormone contraceptive pill, Ortho-Novum. In 1965, Johnson & Johnson acquired Codman & Shurtleff. The acquired company produced neurovascular devices and neurosurgery technologies. In 1968,

2242-438: The likelihood that the rated party will go into default within a given time horizon . In general, a time horizon of one year or under is considered short term, and anything above that is considered long term. In the past institutional investors preferred to consider long-term ratings. Nowadays, short-term ratings are commonly used. Credit ratings can address a corporation's financial instruments i.e. debt security such as

2301-420: The new division into Johnson & Johnson Vision Care, Inc. in 2017. That same year, Johnson & Johnson acquired Actelion in a $ 30 billion deal, the largest ever purchase by the company. After the purchase, Johnson & Johnson spun off Actelion's research and development unit into a separate legal entity. In July 2017, Johnson & Johnson Vision Care, Inc acquired TearScience . In September 2017,

2360-492: The new name for its Consumer Health business. Kenvue went public through an IPO in May 2023, with Johnson & Johnson maintaining a controlling stake of around 91 percent. On July 24, 2023, Johnson & Johnson Launched an exchange offer to split-off Kenvue. Following the completion of the exchange offer, Johnson & Johnson will retain approximately 9.5% of the outstanding shares of Kenvue common stock. Johnson & Johnson holds

2419-522: The next highest (Aa2) 0.28%, the next (Baa2) 2.11%, 8.82% for the next (Ba2), and 31.24% for the lowest it studied (B2). (See "Default rate" in "Estimated spreads and default rates by rating grade" table to right.) Over a longer period, it stated "the order is by and large, but not exactly, preserved". Another study in Journal of Finance calculated the additional interest rate or "spread" corporate bonds pay over that of "riskless" US Treasury bonds, according to

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2478-422: The obligation is extremely strong," or "less vulnerable to non-payment than other speculative issues…" (Standard and Poors' definition of an AAA-rated and a BB-rated bond respectively). However, some studies have estimated the average risk and reward of bonds by rating. One study by Moody's claimed that over a "5-year time horizon" bonds it gave its highest rating (Aaa) to had a "cumulative default rate" of 0.18%,

2537-519: The old Janeway and Carpenter factory on Neilson Street in New Brunswick, New Jersey. They manufactured sterile surgical supplies, household products, and medical guides. Those products initially featured a logo that resembled the signature of James Wood Johnson. Robert Wood Johnson served as the first president of the company. The company sold medicated plasters such as Johnson & Johnson's Black Perfect Taffeta Court Plaster and also manufactured

2596-613: The only four ratings agencies that are recognized by the European Central Bank (ECB) for determining collateral requirements for banks to borrow from the central bank. The ECB uses a first, best rule among the four agencies that have the designated ECAI status, which means that it takes the highest rating among the four agencies – S&P, Moody's, Fitch and DBRS – to determine haircuts and collateral requirements for borrowing. Ratings in Europe have been under close scrutiny, particularly

2655-476: The only in Asia to achieve a AAA sovereign credit rankings from all major credit agencies . Results focus foremost on economics, specifically sovereign default risk or payment default risk for exporters (also known as a trade credit risk). A. M. Best defines "country risk" as the risk that country-specific factors could adversely affect an insurer's ability to meet its financial obligations. A rating expresses

2714-565: The product be "kept out of the reach of children". Purell has been claimed to "[kill] more than 99.99% of most common germs that may cause illness in a healthcare setting, including MRSA & VRE ." However, in January 2020, the Food and Drug Administration issued a warning to Purell's maker, GOJO Industries, to stop its claims that the product is effective at eliminating diseases because there are no peer-reviewed, published clinical studies demonstrating

2773-441: The rating (see colored chart). The Standard & Poor's rating scale uses uppercase letters and pluses and minuses. The Moody's rating system uses numbers and lowercase letters as well as uppercase. While Moody's, S&P and Fitch Ratings control approximately 95% of the credit ratings business, they are not the only rating agencies. DBRS's long-term ratings scale is somewhat similar to Standard & Poor's and Fitch Ratings with

2832-606: The release of photochromic contact lenses. The lenses adjust to sunlight and help eyes recover from bright light exposure faster. The lenses contain a photochromic additive that adapts visible light amounts filtered to the eyes and are the first to use such additives. In November 2020, Johnson & Johnson acquired Momenta Pharmaceuticals for $ 6.5 billion. In January 2022, Joaquin Duato became CEO of Johnson & Johnson. In December 2022, Johnson & Johnson acquired cardiovascular medical technology company Abiomed Inc. for $ 16.6 billion. Johnson & Johnson began

2891-669: The section titled "An Industrial Philosophy" would later become the company's credo. In 1935, Johnson's Baby Oil was added to its line of baby products. Both male and female Johnson & Johnson employees were drafted and enlisted during World War II. The company ensured no one would lose their job when they returned home. Robert Wood Johnson II was appointed head of the Smaller War Plants Corporation in Washington, D.C. His work ensured U.S. factories with under 500 employees were awarded government contracts. In 1943, as

2950-534: The separation of their consumer healthcare business sector in November 2021. In the split, Johnson & Johnson will retain the Johnson & Johnson name for prescription drugs and medical devices , while the second company will sell consumer health products and take over the Neutrogena , Aveeno , Tylenol , Listerine , Johnson's, Band-Aid and other brands. In September 2022, Johnson & Johnson chose Kenvue as

3009-427: The spread of hepatitis B through blood transfusions. In the 1970s, Johnson & Johnson hired Henry N. Cobb from Pei Cobb Freed & Partners to design its new headquarters. The firm designed Johnson & Johnson Plaza across the railroad tracks from the older section of the Johnson & Johnson campus. In 1973, Richard Sellars became chairman and CEO of Johnson & Johnson. In 1976, James E. Burke became

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3068-405: The ten least-risky countries for investment as of January 2018 . Ratings are further broken down into components including political risk, economic risk. Euromoney's bi-annual country risk index monitors the political and economic stability of 185 sovereign countries, with Singapore emerging as the least risky country since 2017 – it is also one of the only few countries in the world as well as

3127-471: The words high and low replacing the + and −. It goes as follows, from excellent to poor: AAA, AA (high), AA, AA (low), A (high), A, A (low), BBB (high), BBB, BBB (low), BB (high), BB, BB (low), B (high), B, B (low), CCC (high), CCC, CCC (low), CC (high), CC, CC (low), C (high), C, C (low) and D. The short-term ratings often map to long-term ratings though there is room for exceptions at the high or low side of each equivalent. S&P, Moody's, Fitch and DBRS are

3186-425: The world's first sterile surgical products, including sutures, absorbent cotton, and gauze. The company published "Modern Methods of Antiseptic Wound Treatment", a guide on how to do sterile surgery using its products, and in 1888, distributed 85,000 copies to doctors and pharmacists across the United States. The manual was translated into three languages and distributed worldwide. The first commercial first aid kit

3245-556: Was acquired by Johnson & Johnson in 1998, rolling it into the Medtech business group. William C. Weldon was appointed chairman and CEO of the company in 2002. In 2003, Ethicon launched Vicryl Plus Antibacterial Sutures. The products prevent post-surgery infection within stitches. In 2006, Johnson & Johnson acquired Pfizer's consumer healthcare business and merged it with its consumer healthcare business group. The acquisition added brands like Listerine , Bengay , and Neosporin to

3304-537: Was designed in 1888 to support railroad construction workers, who were often hundreds of miles from medical care. The kits included antiseptic emergency supplies and directions for field use. In 1901, the company published the Handbook of First Aid , a guide on applying first aid. In 1889, the company hired pharmacist Fred Kilmer as its first scientific director, who led its scientific research and wrote educational manuals. Kilmer's first achievement as scientific director

3363-480: Was developing the industrial sterilization process. He was employed at the company until 1934. Johnson & Johnson had more than 400 employees and 14 buildings by 1894. In 1894, the company began producing Johnson's Baby Powder, the company's first baby product. The company introduced the world's first maternity kit in 1894 to aid at-home births, called Dr. Simpson's Maternity Packet, presumably after Scottish obstetrician James Young Simpson . The kit included

3422-434: Was founded in 1886 by three brothers, Robert Wood Johnson , James Wood Johnson , and Edward Mead Johnson , selling ready-to-use sterile surgical dressings. In 2023, the company split-off its consumer healthcare business sector into a new publicly traded company, Kenvue . The company is exclusively focused on developing and producing pharmaceutical prescription drugs and medical device technologies. Johnson & Johnson

3481-499: Was rebranded and absorbed into Ethicon . Johnson & Johnson chairman of the board , Robert Wood Johnson, published Or Forfeit Freedom , in 1947. The book outlined that businesses need to develop sustainable methods of using natural resources for the future of business and the planet. In 1955, Ethicon developed a micro-point reverse-cutting ophthalmic needle attached to the suture. Micro-point surgical needles and sutures allowed for advances in modern vision surgery. In 1956,

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