S&P: Johnson & Johnson unchanged

Standard & Poor's said that its credit ratings on Johnson & Johnson (AAA/stable/A-1+) are unaffected by the company's recent antitrust litigation win.

The lawsuit, seeking $54 million in damages, which could have been trebled had Applied Medical Resources Corp. prevailed, would have been immaterial to Johnson & Johnson, the agency said.

Given that the company already carries S&P's highest ratings, its credit is somewhat immune to positive developments.

Still, the jury verdict to reject claims by Applied Medical that Johnson & Johnson's Ethicon unit engaged in anticompetitive behavior to restrict competition in the endoscopy market provides some comfort regarding the company's global sales practices, the agency added.

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