Johnson & Johnson exceeds past earnings estimates, raises the outlook

Johnson & Johnson exceeds past earnings estimates, raises the outlook https://www.eresviral.com/wp-content/uploads/2018/10/Johnson-amp-Johnson-supera-las-estimaciones-de-ganancias-pasadas-levanta-la-perspectiva

Johnson & Johnson exceeds past earnings estimates, raises the outlook







(Reuters) - Johnson & Johnson reported slightly better-than-expected quarterly earnings on Tuesday and raised its forecast for the full year, as demand for its cancer drugs, Zytiga and Imbruvica, helped offset declining sales of the drug. Remicade arthritis treatment.  











The Johnson and Johnson logo is seen in an office building in Singapore on January 17, 2018. REUTERS / Thomas White





Shares remained unchanged in premarket operations, and the company forecast earnings of 2018 per share in the range of $ 8.13 and $ 8.18, slightly above the previous range of $ 8.07 to $ 8.17.  

General sales increased 3.6 percent to $ 20.35 billion in the quarter, higher than the average estimate of $ 20.05 billion. 

"This is exactly how we want to start the third season of earnings," BMO Capital Markets analyst Joanne Wuensch wrote in a note, referring to the total number of sales.  

As Remicade faces increased competition and sales of medical devices and some consumer products are weakened, J & J has been relying on its new cancer drugs and offers such as the $ 30 billion purchase of the disease specialist. rare Actelion last year.  

Sales of the Zytiga prostate cancer drug were ahead of analysts' estimates and were $ 958 million in the quarter, compared to the consensus of $ 795 million, according to Barclays.  

Sales of Stelara, which is used to treat psoriasis and other autoimmune diseases, increased 16.5 percent to $ 1.31 billion, above the average estimate of $ 1.27 billion.  

Remicade sales fell 16.3 percent to $ 1.38 billion, but narrowly exceeded the consensus estimate of $ 1.36 billion.    

The blood cancer drug Darzalex generated sales of $ 498 million, and lost the analysts' average estimate of $ 510 million. Sales in the company's medical device business fell marginally to $ 6,559 million and expectations of $ 6,660 million were lost.  

Excluding items, the company earned $ 2.05 per share compared to the forecast of $ 2.03 per share, based on Refinitiv's I / B / E / S data.  

J & J Chief Financial Officer Joseph Wolk said in a CNBC interview after the results that the company had accepted a proposal from the US government that requires companies to include the price of drugs in television ads. 





Report of Manas Mishra in Bengaluru; Edition by Shailesh Kuber and Arun Koyyur





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