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Johnson & Johnson reports mixed Q4 results amid shaky economy

By Chris Newmarker | January 24, 2023

Johnson & Johnson logoJohnson & Johnson (NYSE:JNJ) today reported Q4 results that beat The Street on earnings but missed on revenue amid continued macroeconomic challenges.

The company’s Pharmaceutical business saw sales grow 6.8%. Pharma growth drivers included:

  • Darzalex (daratumumab), a biologic for the treatment of multiple myeloma;
  • Stelara (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases;
  • Erleada (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer;
  • Tremfya (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and for adults with active psoriatic arthritis;
  • Invega Sustenna/Xeplion and Invega Trinza/Trevicta (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults.

Meanwhile, Johnson & Johnson MedTech — fresh off its $16.6 billion acquisition of Abiomed — was up 6.1%. Electrophysiology products in Interventional Solutions, contact lenses in Vision, and wound closure products in General Surgery drove the growth in the medtech business.

“Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges,” CEO Joaquin Duato said in a news release.

Get the full story on our sister site MassDevice.

About The Author

Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at cnewmarker@wtwhmedia.com.

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