J&J beats Wall Street’s estimates on cancer-meds sales
Johnson & Johnson surpassed Wall Street estimates for its last quarter of 2024 in large part because of growth in sales of its cancer-treating drugs.
The company brought in $22.5 billion in revenue and $4.8 billion in net income in its last quarter, coming in slightly higher than estimates from analysts polled by FactSet. Despite beating estimates, J&J is down roughly 1.6% in premarket trading.
Sales for its cancer-treating drugs Drazalex and Erleada were up more than 20% year over year, at $3 billion and $784 million, respectively.
This comes right as generics for J&J’s blockbuster psoriasis drug Stelera entered the market in Canada and Europe. Sales for Stelera fell by 14.7% compared to the same point last year.
J&J announced last week that it would acquire drugmaker Intra-Cellular Therapies for $14.6 billion. That deal will add Caplyta, a drug that treats mental-health disorders and whose patent doesn’t expire until 2040, to its portfolio.
Sales for its cancer-treating drugs Drazalex and Erleada were up more than 20% year over year, at $3 billion and $784 million, respectively.
This comes right as generics for J&J’s blockbuster psoriasis drug Stelera entered the market in Canada and Europe. Sales for Stelera fell by 14.7% compared to the same point last year.
J&J announced last week that it would acquire drugmaker Intra-Cellular Therapies for $14.6 billion. That deal will add Caplyta, a drug that treats mental-health disorders and whose patent doesn’t expire until 2040, to its portfolio.
