…< Stock Market News Today >… Johnson & Johnson hiked its full-year operational sales forecast as strong demand for its cancer drugs Darzalex and Imbruvica helped it beat estimates for second-quarter profit on Tuesday.
Overall strength in J&J’s pharmaceuticals unit, bolstered by recent approvals for new treatments such as its cancer drug Erleada also helped drive its earnings beat. Pharmaceutical sales rose 1.7% to $10.53 billion, above analysts’ estimates of $10.27 billion, according to three analysts polled by Refinitiv.
The company raised its operational sales forecast for 2019 to $82.4 billion to $83.2 billion, from a prior range of $82 billion to $82.8 billion.
The diversified healthcare company, the first major U.S. drugmaker to report second-quarter results, said net earnings rose to $5.61 billion, or $2.08 per share, from $3.95 billion, or $1.45 per share, a year earlier.
Excluding items, the company earned $2.58 per share, beating analysts’ expectations for $2.46 per share, according to IBES data from Refinitiv.
The company reported a quarterly litigation expense of $409 million, down from $703 million a year earlier.
Sales fell 1.3% to $20.56 billion but came in ahead of estimates for $20.29 billion.
Johnson & Johnson Company Profile:
Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices.
Its primary focus is products related to human health and well-being. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets. The Pharmaceutical segment is focused on five therapeutic areas, including immunology, infectious diseases, neuroscience, oncology, and cardiovascular and metabolic diseases.
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The Medical Devices segment includes a range of products used in the orthopedic, surgery, cardiovascular, diabetes care and vision care fields. Its research facilities are located in the United States, Belgium, Brazil, Canada, China, France, Germany, India, Israel, Japan, the Netherlands, Singapore, Switzerland and the United Kingdom…. http://www.jnj.com