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J&J Quarterly Earnings Beat Wall Street Estimates on Strength of Medicines Unit
- On Wednesday, Johnson & Johnson reported second-quarter sales of $25.31 billion, up 6.6% from a year earlier, as strong demand in its Innovative Medicine segment helped the company top expectations.
- Growth in the Innovative Medicine unit, which rose 7.8% to $16.38 billion, helped offset declining revenue from older products like Stelara after it lost patent protection.
- Tremfya sales surged 72.5% to $2 billion, while blood cancer treatment Darzalex reached $4.2 billion; the MedTech unit recorded $8.93 billion, missing analyst expectations of $8.97 billion.
- Shares of Johnson & Johnson fell 1.5% on Wednesday despite the earnings beat, as the MedTech unit's 2% Abiomed sales decline was attributed to a U.K. study questioning Impella heart pump use.
- Despite MedTech headwinds, the company raised full-year revenue guidance to $101.1 billion midpoint, with CFO Joseph Wolk expressing confidence the franchise will recover as clinical data supporting Impella effectiveness emerges.
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·Lakewood, United States
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Coverage Details
Total News Sources23
Leaning Left2Leaning Right3Center7Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
58% Center
L 17%
C 58%
R 25%
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