J&J Beats Profit Estimates On Pharma Strength, Raises Sales Outlook

By Dayeeta Das
Share this article
J&J Beats Profit Estimates On Pharma Strength, Raises Sales Outlook

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.

Pharmaceutical Division

Pharmaceutical sales rose 1.7% to $10.53 billion (€9.4 billion), above analysts' estimates of $10.27 billion (€9.2 billion), according to three analysts polled by Refinitiv.

The company raised its operational sales forecast for 2019 to $82.4 billion (€73.4 billion) to $83.2 billion (€74.1 billion), from a prior range of $82 billion (€73.1 billion) to $82.8 billion (€73.8 billion).

The diversified healthcare company, the first major US drugmaker to report second-quarter results, said net earnings rose to $5.61 billion (€5 billion), or $2.08 per share, from $3.95 billion (€3.5 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 (€364.5 million), down from $703 million (€626.5 million) a year earlier.

Sales fell 1.3% to $20.56 billion but came in ahead of estimates for $20.29 billion (€18.1 billion).

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.