Johnson & Johnson beat profit forecasts in Q2 thanks to strong drug sales, raising sales forecast.

From Quiver Quantitative, LLC.: 2024-07-17 20:02:52

Johnson & Johnson exceeded profit and revenue expectations for the second quarter thanks to strong drug sales, particularly of Stelara and Darzalex. Stelara sales reached $2.89 billion, up 3.1%, while Darzalex sales rose 18.4% to $2.88 billion. The company is working on securing favorable U.S. insurance coverage for Stelara by 2025, anticipating biosimilar competition. Total Q2 revenue was $22.4 billion, beating estimates, and adjusted earnings were $2.82 per share. J&J raised its 2024 sales forecast to $89.2 billion to $89.6 billion, benefiting other medical device manufacturers. Additionally, J&J is still managing talc-related lawsuits.



Read more at Quiver Quantitative, LLC.: Johnson & Johnson’s Q2 Profit Beats Forecasts on Drug Sales