Best Of: Inside Johnson & Johnson’s bankruptcy two-step

Best Of: Inside Johnson & Johnson’s bankruptcy two-step

This week, we’re revisiting an episode from last year. Johnson & Johnson, one of the world’s largest healthcare companies, is facing thousands of lawsuits from people alleging they got cancer from using one of their oldest products: talc-based baby powder. To manage the growing liability, J&J deployed a controversial bankruptcy manoeuvre known as the Texas two-step. The FT’s US pharmaceutical correspondent Jamie Smyth helps us explore whether J&J’s use of this manoeuvre is setting a precedent for corporations to evade accountability in America. Plus, stick around for an update on what’s happened to the Texas two-step since this episode first aired.


Clip from NBC


- - - - - - - - - - - - - - - - - - - - - - - - - -

For further reading:

Johnson & Johnson’s ‘Texas-two-step’ sparks outcry over US bankruptcy regime

Talc ruling a blow to J&J and the ‘Texas two-step’ bankruptcy jig

Talcum powder cancer claims target J&J’s new consumer carve-out

- - - - - - - - - - - - - - - - - - - - - - - - - -

On Twitter, follow Jamie Smyth (@JamieSmythF) and Michela Tindera (@mtindera07)


Read a transcript of this episode on FT.com


Hosted on Acast. See acast.com/privacy for more information.

Det här avsnittet är hämtat från ett öppet RSS-flöde och publiceras inte av Podme. Det kan innehålla reklam.

Avsnitt(336)

The hidden financial world of ancient Rome

The hidden financial world of ancient Rome

Ancient Rome is often depicted as a glamorous empire of power, sophistication and wealth. Yet for most people, the reality of daily life was precarious. Host Robin Wigglesworth talks to Kim Bowes, aut...

5 Aug 54min

The canal that shaped American finance

The canal that shaped American finance

The construction of the Erie Canal is one of the most ambitious infrastructure projects in American history. But its most influential legacy is not the waterway itself, it is how it was paid for. Host...

29 Juli 40min

The trader who made $100mn from the 1929 crash — only to lose it all

The trader who made $100mn from the 1929 crash — only to lose it all

Jesse Livermore was a legendary trader who made and lost several fortunes in the early 20th century, most famously by shorting the Wall Street crash of 1929. His early life was immortalised in the rom...

22 Juli 54min

The financial crash that created Britain’s first prime minister

The financial crash that created Britain’s first prime minister

When the South Sea Bubble burst in 1720, it wiped out fortunes and plunged Britain into its first great stock market crisis. The collapse of the South Sea Company, a government-backed scheme that prom...

15 Juli 38min

South Sea Bubble: the shoemaker’s son who sparked Britain’s first financial crisis

South Sea Bubble: the shoemaker’s son who sparked Britain’s first financial crisis

In 1720, the South Sea Company was one of the most valuable businesses in Britain until a spectacular collapse in its publicly traded shares triggered the country’s first major stock market crisis. At...

8 Juli 52min

The 1980s Garfield buyout that changed corporate finance

The 1980s Garfield buyout that changed corporate finance

William E Simon was a bond trader-turned US cabinet secretary under President Richard Nixon. He was also abrasive, polarising and the “father of private equity”, according to Hettie O’Brien, author of...

1 Juli 55min

The US dollar’s ‘immigrant’ origins

The US dollar’s ‘immigrant’ origins

Today, when you think of a dollar, the US dollar probably comes to mind first. But that hasn’t always been the case. In this episode of The Story of Money, Brendan Greeley, the author of The Almighty ...

24 Juni 47min

The financial scams that brought Albania to the brink of war

The financial scams that brought Albania to the brink of war

In the mid-1990s, Albania appeared to be a nation on the rise. Emerging from decades of isolation and communist rule, people poured their savings into investment schemes that promised extraordinary re...

17 Juni 50min

Populärt inom Business & ekonomi

framgangspodden
badfluence
dynastin
varvet
uppgang-och-fall
svd-tech-brief
avanzapodden
fill-or-kill
rss-inga-dumma-fragor-om-pengar
rikatillsammans-om-privatekonomi-rikedom-i-livet
tabberaset
lastbilspodden
rss-borslunch
rss-veckans-trade
rss-kort-lang-analyspodden-fran-di
rss-dagen-med-di
rss-dominoeffekten
rss-hos-psykologen
borslunch-2
bathina-en-podcast