Johnson & Johnson reports first-quarter sales above expectations

A Johnson & Johnson building is shown in Irvine, California January 24, 2017. — Reuters pic
A Johnson & Johnson building is shown in Irvine, California January 24, 2017. — Reuters pic

NEW BRUNSWICK (New Jersey) April 16 — Johnson & Johnson reported first-quarter revenue above analysts’ estimates today, driven partly by demand for its Stelara treatment for psoriasis and Crohn’s disease and cancer drugs Darzalex and Imbruvica.

J&J, the first major drugmaker to report first-quarter results, reported a slight rise in quarterly sales to US$20.02 billion (RM82.8 billion), above the average analyst estimate of US$19.61 billion, according to IBES data from Refinitiv.

The US healthcare conglomerate said net profit fell to US$3.75 billion, or US$1.39 per share, from US$4.37 billion, or US$1.60 per share, a year earlier.

J&J recorded litigation expense of US$423 million in the first quarter. The company not record litigation expense in the year-ago period. — Reuters

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