J&J earnings beats analysts' estimates thanks to drug sales
[NEW YORK] Johnson & Johnson, the world's largest health-care company, beat fourth-quarter profit estimates, boosted by blockbusters like arthritis treatment Remicade and psoriasis drug Stelara.
Earnings were $1.44 a share, excluding some items, J&J said Tuesday, topping the $1.42 average of 20 analysts' projections compiled by Bloomberg. Facing a slowdown in medical devices, J&J is relying on drugs to boost growth. The company said last week it plans to cut about 3,000 jobs from the medical-devices unit, which has been under pressure from cost-cutting by insurers and hospitals.
BLOOMBERG
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Best World under fire from shareholders at AGM over dividends, director salaries
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue