Johnson & Johnson (J&J) has reported second-quarter earnings that exceeded Wall Street estimates, driven by strong growth in its medicines unit. The company’s quarterly sales reached $25.31 billion, a 6.6% increase from the same period last year, and above analysts’ average estimate of $25.05 billion.
Pharmaceutical Unit Performance
The pharmaceutical unit generated $16.38 billion in quarterly sales, ahead of analyst estimates of $16.1 billion. Sales of the company’s psoriasis and inflammatory bowel disease drug, Tremfya, rose 72.5% to $2 billion, compared to estimates of $1.74 billion.
J&J has also increased its full-year sales and profit forecast, now expecting sales of about $101.1 billion at the midpoint, and adjusted earnings per share of $11.68 at the midpoint.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
