Johnson & Johnson (JNJ) received approval Tuesday from the U.S. Food & Drug Administration for a controversial nasal spray that treats depression with Esketamine. The new nasal spray Spravato features the same chemical properties of Ketamine, which is a popular street drug also known as “Special K”.
This will be the first new depression treating drug on the market in 30 years, since the release of Prozac back in 1998. Spravato will carry the highest warning levels to protect from potential misuse, and will only be administered in a doctors office or in the presence of a physician.
The drug will cost $590 for a 56mg dose and $885 for an 84mg dose, and will only be available to people who have failed with at least two other antidepressant therapies. During the first month, patients will be treated twice a week. Additional treatments will be provided on a weekly or biweekly basis. The first month of treatment can range in price from $4,720 to $6,785, with subsequent monthly costs ranging from $2,360 to $3,540 before insurance discounts and rebates.
What’s Happening with JNJ Stock Today
Johnson & Johnson (JNJ) stock has gained 0.11% while the S&P 500 has fallen -0.55% as of 3:03 PM on Wednesday, Mar 6. JNJ stock has gained $0.15 from the previous closing price of $138.77 on volume of 4,051,741 shares. Over the past year the S&P 500 is higher by 1.69% while JNJ stock has gained 8.35%. JNJ stock earned $5.61 a share in the over the last 12 months, giving it a price-to-earnings ratio of 24.77.
Meanwhile, the major indices are down. The Dow Jones Industrial Average has fallen -0.41%. The S&P 500 has fallen -0.55%. The NASDAQ is down -0.71%.
Stock Score Report, InvestorsObserver’s proprietary scoring system, gives JNJ stock a score of 71 out of a possible 100. That score is based on three component scores. A fundamental score of 45, a long-term technical score of 80 and a short-term technical score of 88. Our proprietary system combines short and long-term technical factors, Wall Street’s opinion, and other fundamental factors into an overall score that measures a stock’s suitability for investment.