Positive first quarter for Johnson & Johnson

US-based pharmaceutical giant Johnson & Johnson has reported today, before Wall Street opened, its first-quarter results, which are beyond analyst’s expectations. Revenues in 2017 reached $20bn and profits were $2.06bn, whereas analysts expected, respectively, $19.5bn and $2.0bn. The good performance is mainly due to JnJ’s pharmaceutical harm, with sales rising 19.4% ($9.8bn).

The best sold drugs include the cancer drug Zytiga, whose sales soared by 62% to $865m. Promising results came from the new drugs Darzalex (multiple myeloma), Imbruvica (cancer) and Tremfya (psoriasis) as well.  Significantly, the acquiree Actelion started giving its contribution, accounting for 7.6% of the pharmaceutical division’s sales volume. J&J’s management took the opportunity to announce a current-year guidance improvement: sales will be between $81bn and $81.8bn, which is significantly over the previously estimated $80.6 to $81.4bn. The sales guidance for Remicade was improved as well–the blockbuster is expected to yield $20.01bn vs the expected $19.48bn. The only negative is that J&J’s average sales price for drugs decreased by 4.6% because of the heavy discounts granted.

(Source: JnJ)