J&J Raises Profit Forecast On Anti-Inflammatory Drug Demand
Connect with us

Business

J&J Raises Profit Forecast On Anti-Inflammatory Drug Demand

Published

on

J&J Raises Profit Forecast On Anti-Inflammatory Drug Demand

(CTN News) – It was announced on Tuesday that Johnson & Johnson (J&J) had increased its profit forecast for 2023, helped by resilient demand for its top-selling drug Stelara, as well as a $21 billion gain resulting from the spin-off of its consumer health unit last year.

There was a slight increase in the shares of the company in premarket trading of about 2%.

It is expected that investors will pay close attention to the ways in which Johnson & Johnson, now a separate pharmaceutical and medical device company, will reach its goal of $57 billion in J&J drug sales by 2025.

In the wake of the launch of biosimilars, the company is likely to see a slowdown in sales of its arthritis drug Stelara due to a possible slowdown in demand.

In August, J&J completed the biggest shake-up in its 137-year history when it exchanged shares with its former consumer health unit Kenvue in one of its biggest shake-ups ever.

It was reported that Johnson & Johnson had total sales of $21.35 billion for the third quarter, compared with analysts’ expectations of $21.04 billion, according to data from LSEG.

A new report by the London School of Economics and Government (LSEG) shows sales of Stelara, J&J’s top-selling anti-inflammatory drug, exceeded estimates of $2.61 billion, according to the LSEG.

With Stelara accounting for more than 20% of the company’s quarterly sales, the company’s innovative medicine unit reported quarterly sales of $13.89 billion.

With the exception of its consumer health unit, J&J now expects its 2023 adjusted profit to be in the range of $10.07 to $10.13 per share, compared to its previous outlook of $10.00 to $10.10 per share.

The company reported a profit of $1.69 per share in the third quarter, compared with a profit of $1.62 per share a year prior.

According to J&J’s results, excluding items, the company reported a profit of $2.66 per share, which is up from $2.23 per share in the previous year.

SEE ALSO:

After Protests, TSMC Pulls Out Of Northern Taiwan

Continue Reading

CTN News App

CTN News App

české casino

Recent News

BUY FC 24 COINS

compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies

Exit mobile version