Johnson & Johnson logo file photo
(Archyde.com) – Johnson & Johnson, the leading drug and medical device maker, reported better-than-expected quarterly revenue and profit on Tuesday on strong demand for its cancer drug , Darzalex, and its treatment for Crohn’s disease, Stelara.
The title J&J took 2.1% to 170.02 dollars in pre-market trading on Wall Street.
The turnover of its pharmaceutical products unit increased by 2.6% to 13.21 billion dollars (13.44 billion euros) in the third quarter. Analysts polled by Archyde.com had expected $13.03 billion.
Darzalex sales were up 29.8% to $2.05 billion.
J&J saw total revenue grow 1.9% to $23.79 billion in the third quarter, while beating Refinitiv’s IBES consensus of $23.34 billion.
Excluding exceptional items, the group posted earnings of $2.55 per share for the third quarter, beating estimates at $2.47.
Medical Devices Division revenue also grew in the third quarter, rising 2.1% to $6.78 billion despite prolonged lockdowns in China and a slow recovery of some elective, delayed surgeries. due to COVID-19.
The company expects the impact of inflation to ease next year, but warned that higher costs for inventory made in 2022 might weigh on 2023 earnings.
A stronger dollar will affect 2023 adjusted earnings by 40 to 45 cents, J&J warned.
(Report Manas Mishra, French version Lina Golovnya, edited by Kate Entringer)
