Home Stock Market Johnson & Johnson promises 2021 profit jump, vaccine data “soon” By Reuters

Johnson & Johnson promises 2021 profit jump, vaccine data “soon” By Reuters

51
0

2/2

© Reuters. FILE PHOTO: Vials and medical syringe are seen in front of J&J logo in this illustration

2/2

(Reuters) – Johnson & Johnson (NYSE:) on Tuesday forecast 2021 profit above Wall Street estimates and promised data from its widely watched coronavirus vaccine trial soon, as the healthcare conglomerate races to develop a potential single-dose vaccine for COVID-19.

The company had previously signaled that it expected to deliver data on the trial before the end of January, at a time when global hopes of defeating the virus are riding on securing adequate supplies of multiple vaccines.

Johnson & Johnson, which runs a large medical device business in addition to its pharmaceuticals unit, forecast 2021 adjusted profit of between $9.40 and $9.60 per share, compared with analysts’ estimates of $8.99 per share, according to IBES data from Refinitiv.

The company’s fourth-quarter profit fell 2.7% to $14.71 billion. The company reported that it had recorded litigation expenses of $2.9 billion in the fourth quarter.

J&J faces a litany of lawsuits over its marketing of opioids, its pelvic meshes and body powders.

The company’s fourth-quarter sales rose to $22.48 billion from $20.75 billion, helped by higher demand for cancer drugs.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.