J&J Accelerates Quarterly Profits
Recently, Johnson & Johnson (JNJ) announced that their Q1 earnings which exceeded market expectations. The company highlighted how their drug Stelara, used for the treatment of psoriasis and Crohn’s disease, enjoyed a double-digit increase of about 32% bringing it to $1.41 billion & now is accounting for more than half of the company’s revenue. Cancer drugs Darzalex and Imbruvica also contributed significantly to the earnings.
An overall increase in sales revenue of $20.02 billion was realized which beat analyst’s expectations of $19.61 billion.
J&J increased its full-year forecast for adjusted earnings to $8.53/share to $8.63/share.
As reported Jennifer Taubert, head of J&J’s pharma unit expressed “We believe that we’re off to a very, very strong start with Spravato and that is going to be an important growth driver for us,”
On the new launch front, the company is expecting a promising start from its new nasal spray depression treatment Spravato, which was recently approved by the FDA. However, amidst new launches and its pharmaceuticals business hitting the right notes, the company still foresees declining sales in 2019 due to competition from generics and biosimilar.
Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services. To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.
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