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Johnson & Johnson Inc. (JNJ) – Get the report on Tuesday released stronger-than-expected fourth-quarter results and said it would provide an update on the progress of its vaccine development “shortly”.
Johnson & Johnson said adjusted profit for the three months ending in December was pegged at $ 1.86 per share, down 1.1% from the same period last year, but 4 cents compared to the Street consensus forecast. The group’s revenue, Johnson & Johnson said, rose 8.3% to $ 22.5 billion, again beating analysts’ estimates by a total of $ 21.67 billion.
The Consumer Brands and Health Care Group said it expected adjusted profit growth of 16.4% for the year 2021, or $ 9.40 to $ 9.60 per share, as well as a sales growth of around 8.8%.
“Our outstanding annual performance reflects the continued confidence of patients, physicians, customers and consumers in our life-enhancing products and medicines, especially throughout the COVID-19 pandemic,” said CEO Alex Gorsky.
“I am extremely proud of our Johnson & Johnson teams around the world for going above and beyond to meet the needs of stakeholders. These efforts, and our commitment to families around the world as the largest large-scale healthcare company, have enabled us to lead the fight against COVID-19, ”he added. We continue to advance our COVID-19 vaccine candidate and look to the future to share details of our Phase 3 study soon. Johnson & Johnson has been built for times like these, and I am extremely confident in our ability to deliver sustainable value and continuous innovation in 2021 and for years to come. ”
Johnson & Johnson shares rose 3.6% early in trading immediately after the results were released to change hands to $ 171.45 each, bringing the share’s six-month gain to around 15 %.
Pharmaceuticals sales lead the group’s industry gains, up 16.3% year-over-year to $ 12.27 billion, driven by strong revenues from its Stelara treatment for inflammatory diseases in mediated immune system and Imbruvica, its blood cancer drug.
This helped offset a 0.7% drop in medical device revenue, which totaled $ 6.59 billion, and a modest 1.4% gain in consumer health product sales, to $ 3.62 billion.
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