It is traditional for the largest healthcare company in the world to be the first to report in earnings season. Often, and because of Johnson & Johnson’s conglomerate status with its pharmaceutical, medical device and consumer divisions, J&J sets the early mood for life science earnings. For the fourth quarter and full year 2019, this mood initially looked chilly for J&J as it modestly missed analysts’ consensus estimates of revenues.
Revenue rose by 2.8% to $20.7bn for the fourth quarter (and by 1% for the full year) and was driven by the 4.4% rise in fourth-quarter pharmaceutical sales. This pharmaceutical performance continues to put its consumer and medical device divisions into the shade even in the face of biosimilar and generic competition to its former blockbusters Remicade (infliximab) and Zytiga (abiraterone) respectively, and foreign currency headwinds. (Also see "J&J’s Gorsky Hails Strong Performance By Immunology Therapies Tremfya, Stelara" - Scrip, 22 January, 2020.) J&J’s annual earnings of $15
Read the full article – start your free trial today!
Join thousands of industry professionals who rely on Scrip for daily insights
- Start your 7-day free trial
- Explore trusted news, analysis, and insights
- Access comprehensive global coverage
- Enjoy instant access – no credit card required
Already a subscriber?
