(Reuters) -Johnson & Johnson beat estimates for second-quarter profit and revenue on Wednesday, driven by strong sales of its drugs, including cancer...
-Johnson & Johnson beat estimates for second-quarter profit and revenue on Wednesday, driven by strong sales of its drugs, including cancer treatment Darzalex and blockbuster psoriasis drug Stelara .Revenue of $22.4 billion surpassed the consensus estimate of $22.3 billion, according to LSEG data. Adjusted earnings of $2.82 per share beat analysts' expectations of $2.70 per share.
That was among J&J's several deals this year, including its May purchase of experimental skin disorder drugs in two acquisitions worth $2.1 billion. "I'll remind you that we are still calling for growth in our pharmaceutical business despite the biosimilar competition that we intend to encounter next year," he said.Darzalex, a blood cancer therapy launched in 2015, is expected to bring in sales of more than $11 billion for J&J this year, analysts said.
Tight supply has limited Carvykti sales, with the company working to boost production capacity at its plants in New Jersey and Belgium.
Strong Sales Consensus Estimate Stelara
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street reaches perfect equilibrium of indecision on gold prices, Main Street maintains optimistic outlookThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Bank of America leans on Wall Street as high rates pose challenges to Main Street operationsSecond-quarter profits at Bank of America fell 7% from a year ago as its consumer operations wrestled with higher interest rates, but it was able to churn...
Read more »
Wall Street experts nearly unanimous on gold posting gains next week, Main Street sentiment firmly bullishThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Nike posts quarterly sales that miss Wall Street estimatesNike Inc. reported quarterly sales that fell short of expectations — adding urgency to the world’s largest sportswear company’s efforts to strengthen ties with its retail partners and speed up its product development.
Read more »
Stock market today: Wall Street trudges higher on bank earnings; US retail sales data arrives soonWall Street is logging tiny gains early Tuesday with earnings season revving up and upcoming U.S. retail sales data that could influence a decision by the...
Read more »
Wall Street’s top regulator could face worsening battle in wake of Supreme Court rulingU.S. Supreme Court’s move to curb federal agency powers could curtail efforts by the U.S. Securities and Exchange Commission to establish new rules to police Wall Street, legal experts said
Read more »