The overall point holds, but this is more like 0.75 years of profit, or less ($424B market cap x 2.76% dividend yield is a basic calculation, but there's all sorts of accounting reasons why this might underestimate actual profit).
> An annual filing with the SEC shows that J&J paid $7.4 billion in litigation expenses between 2020 and 2021, with the majority spent on legal costs related to talc claims.