Jim Cramer Believes Lawsuits Are No Longer a Major Threat to Johnson & Johnson

Johnson & Johnson (NYSE:JNJ) is one of the stocks Jim Cramer put under the microscope. Cramer recalled his discussion with the company’s CEO, and commented:

“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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Johnson & Johnson (NYSE:JNJ) develops pharmaceuticals and medical technologies spanning immunology, oncology, neuroscience, infectious disease, cardiovascular care, and pulmonary hypertension. In addition, the company provides surgical solutions, orthopedics, vision care, and neurovascular products.

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Disclosure: None. This article is originally published at Insider Monkey.