Johnson & Johnson Beats Sales Estimates on Pharma Strength

Reuters2022-10-18

Oct 18 (Reuters) - Johnson & Johnson on Tuesday beat analysts' estimates for third-quarter sales, helped by strong demand for its cancer drug Darzalex and Crohn's disease drug Stelara.

The U.S. healthcare conglomerate tightened its full-year adjusted profit forecast range.

J&J is the first drugmaker and medical devices firm to report third-quarter earnings and the maintained forecast could be seen as a sign of demand resiliency.

Sales at pharmaceuticals, the company's largest unit, rose 2.6% to $13.21 billion. That beat estimates of $13.03 billion, according to six analysts polled by Refinitiv.

Sales at J&J's medical devices unit rose 2.1% to $6.78 billion on demand for contact lenses and wound-closure products. The division has been under pressure from extended lockdowns in China and a slow recovery in demand for some non-urgent surgery delayed due to the COVID-19.

Total sales for the third-quarter rose 1.9% to $23.79 billion, topping estimates of $23.34 billion, according to Refinitiv IBES data.

Shares rose 2% before the opening bell.

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Comments

Bspn
2022-10-18
Bspn
K
blessed_1
2022-10-18
blessed_1
Ok
Jazling
2022-10-18
Jazling
Wow
- Meowl:
  cool
- Jazling:
  Ok
Andrewinho
2022-10-18
Andrewinho
👏👏👏🚀🚀🚀

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