Saturday, 07 Dec 2019

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J&J beats profit estimates on pharma strength

No icon Pharmaceuticals

Health Desk- 17 July, 2019: Johnson & Johnson hiked its full-year operational sales forecast as strong demand for its cancer drugs Darzalex and Imbruvica helped it beat estimates for second-quarter profit on Tuesday.

Overall strength in J&J’s pharmaceuticals unit, bolstered by recent approvals for new treatments such as its cancer drug Erleada also helped drive its earnings beat.

Pharmaceutical sales rose 1.7 percent to $10.53 billion, above analysts’ estimates of $10.27 billion, according to three analysts polled by Refinitiv.

The company raised its operational sales forecast for 2019 to $82.4 billion to $83.2 billion, from a prior range of $82 billion to $82.8 billion.