Tags: Johnson | Johnson | Pharma | J&J | JNJ

Johnson & Johnson: Pharma Pays Off

Thursday, 21 Apr 2011 01:33 PM

Johnson & Johnson (JNJ) makes everything from Band-Aids to shampoo, but its pharmaceutical unit reported strong sales during the first quarter of 2011, helping to boost total revenue to $16.2 billion for the three-month period, up 3.5 percent from the same timeframe in 2010.

"Our pharmaceuticals business demonstrated strong growth this quarter, led by the performance of recently launched products. We delivered solid earnings while making the investments necessary to advance the robust pipelines across our businesses," Chairman and CEO William C. Weldon said in a statement.

Pharmaceutical sales helped offset dips in worldwide consumer sales, the company added.

Worldwide pharmaceutical sales hit $6.1 billion for the first quarter, 7.5 percent versus the prior year. Domestic pharmaceutical sales rose 5.8 percent while international sales jumped 9.7 percent.

New products fueled increases to company revenue. Those products included Stelara, which treats moderate to severe plaque psoriasis; Simponi for moderate to severe rheumatoid arthritis, psoriatic arthritis and ankylosing spondylitis; and Invega Sustenna, an injectable treatment for schizophrenia in adults.

Analysts see better results to come. "I think the position of J&J is strong from an investor standpoint," in part on pharma growth, analyst Linda Bannister at Edward Jones told the AP.

For the first quarter of 2011, net profits came to $3.48 billion, a 23.2 percent drop from the same period in 2010 due to increased expenses, litigation and product-recall costs.

The rest of the year, meanwhile, looks bright, the company forecasts.

J&J said it raised its fiscal 2011 earnings guidance and expects earnings per share to end in the range between $4.90 and $5, slightly above Reuters Estimates, based on analysts' forecasts for $4.84 for fiscal 2011.

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Johnson Johnson (JNJ) makes everything from Band-Aids to shampoo, but its pharmaceutical unit reported strong sales during the first quarter of 2011, helping to boost total revenue to $16.2 billion for the three-month period, up 3.5 percent from the same timeframe in...
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Thursday, 21 Apr 2011 01:33 PM
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