Johnson & Johnson raised its earnings guidance for the rest of the year as the Covid-19 vaccination campaign continues
Greater demand for medical devices, drugs and consumer-health products helped boost sales and profit for Johnson & Johnson in the latest quarter, as the company’s Covid-19 shot continued to play a role in vaccination campaigns.
As people returned for healthcare they had deferred earlier in the pandemic, sales of Johnson & Johnson’s medical devices climbed 63% year over year. Higher sales of the company’s skin care and beauty products helped boost J&J’s consumer-health revenue by 13% compared with the same three months of 2020.
J&J’s Covid-19 vaccine contributed revenue of $165 million between April and June, a rise from $100 million in the first three months of the year. Pharmaceutical sales rose 17% overall, driven by higher sales of Stelara, a drug for inflammatory diseases, Darzalex, a multiple-myeloma drug, and Tremfya, a drug for plaque psoriasis and psoriatic arthritis.
The New Brunswick, N.J.-based company logged sales of $23.31 billion—a 27% increase year over year—and adjusted earnings of $2.48 a share. Wall Street analysts had forecast adjusted earnings of $2.29 a share and revenue of $22.49 billion, according to FactSet’s survey.
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