Johnson & Johnson earned $2.42 per share on an adjusted basis in the third quarter, falling 9% on the previous year but beating analysts’ average estimates of $2.21
raised its 2024 profit and sales forecasts on Tuesday after reporting strong sales of oncology drugs and quarterly results that beat Wall Street expectations.
However, it now expects to earn between $9.86 and $9.96 per share for the year, including charges related to merger and acquisitions, having previously forecast a range of $10 to $10.10 per share. Analysts, who expect Darzalex to bring in revenue of about $11-billion for J&J this year, had expected the drug to make $2.92-billion for the quarter.
Stelara has long been a key driver of revenue growth for J&J, with analysts forecasting sales of over $10-billion this year. But this could fall to about $7-billion in 2025 when as many as six close copies of the drug launch in the U.S.
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