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Johnson & Johnson beats The Street in Q3, Pharma sales rise

By Sean Whooley | October 18, 2022

Johnson & JohnsonJohnson & Johnson (NYSE:JNJ) today reported third-quarter results that topped the consensus forecast, with international pharma sales up 2.6% or 9.0% operationally.

Drugs fueling growth include Stelara (ustekinumab), Darzalex (daratumumab), Tremfya (guselkumab), Xarelto (rivaroxaban) and Erleada (apalutamide).

J&J licensed Darzelex from Genmab. The drug won FDA approval in 2015 for patients with previously treated multiple myeloma. Darzalex now has eight FDA-approved indications.

Another drug fueling growth was the atypical antipsychotic Invega Hafyera (paliperidone palmitate), which is the first six-month injectable for schizophrenia on the U.S. market.

Sales declined for the biologic Remicade (infliximab) and the immune-mediated inflammatory disease therapy Imbruvica (ibrutinib).

MedTech business sales increased more than 2%.

The New Brunswick, New Jersey-based company posted profits of $4.5 billion, or $1.68 per share in the quarter. It pulled in sales of $23.8 billion for the three months ended Sept. 30, 2022. That marked a 21.6% bottom-line gain on sales growth of 1.9%.

Adjusted to exclude one-time items, earnings per share were $2.48. That beat Wall Street expectations by 7¢, while analysts looked for sales of $23.3 billion.

Despite the positive financials, the company is likely to trim its staff in the near future, according to a WSJ article featuring input from Chief Financial Officer Joseph Wolk.

Get the full story at our sister site, MassDevice.

About The Author

Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at swhooley@wtwhmedia.com.

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