JnJ cancer drugs Darzalex, Imbruvica help it beat profit estimates for third-quarter
JnJ is facing more than 13,000 lawsuits tied to anti-psychotic drug Risperdal as well as a range of lawsuits involving its baby powder, opioids, medical devices and other products.
New Delhi: Johnson & Johnson (JnJ) on Tuesday boosted its full-year adjusted profit forecast, as multi-billion dollar sales of its cancer drugs Darzalex and Imbruvica helped it beat estimates for third-quarter profit.
Shares of the company rose 2% to $133.48 in pre-market trading.
JnJ did not report litigation expenses for the third quarter and its legal expenses over the nine-month period remained at $832 million, as was reported at the end of the second quarter.
JnJ is facing more than 13,000 lawsuits tied to anti-psychotic drug Risperdal as well as a range of lawsuits involving its baby powder, opioids, medical devices and other products.
Also read:- J&J passes asbestos test, allowed to make baby powder in India
JnJ on Tuesday said it now expects full-year adjusted earnings per share in the range $8.62 to $8.67, from its prior forecast of $8.53 to $8.63. Analysts were expecting $8.60 per share.
Net earnings rose to $4.83 billion, or $1.81 per share, in the quarter, from $3.93 billion, or $1.44 per share, a year earlier.
Also read:- J&J nasal spray esketamine wins FDA panel backing
Excluding items, the company earned $2.12 per share, beating analysts' expectations of $2.01 per share, according to IBES data from Refinitiv. Total sales rose 1.9% to $20.73 billion, above the average analysts' estimate of $20.07 billion.
Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers. Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here
Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd