Johnson & Johnson reports mixed Q4 results amid shaky economy

Johnson & 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.

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