Investing.com - Johnson & Johnson (NYSE:JNJ) posted fourth-quarter adjusted earnings and sales that topped analysts’ estimates, as the pharmaceutical firm was boosted by demand for its cancer treatments.
The drugmaker added that it now expects to deliver full-year sales of $90.9 billion to $91.7 billion in 2025, as well as $10.75 to $10.95 in adjusted earnings per share. Both the forecasts were also above expectations, according to LSEG figures cited by Reuters.
Fourth-quarter sales at J&J jumped by 5.3% versus the year-ago period to $22.52 billion, fueled in part by a 19% uptick in sales of its cancer drugs. Sales of its multiple myeloma treatment Darzalex in particular surged by almost 21% to over $3 billion.
Chief Financial Officer Joe Wolk added that its $13.1 billion deal to acquire heart health group Shockwave Medical (NASDAQ:SWAV) also bolstered its top-line returns during the quarter, Reuters reported. J&J said Shockwave contributed $258 million in sales for the quarter.
Strength at J&J’s medical technology division and innovative medicine unit helped counter a 14.7% dip in sales of its psoriasis treatment Stelara as well. Performance of the blockbuster drug has been dented by the emergence of copies in several markets, with other biosimilars due to be launched in the US this year.
J&J’s adjusted earnings during the fourth quarter came in at $2.04 per share. Although the figure, which included a $0.22 impairment charge related to the acquisition of medical device manufacturer V-Wave, was down 11% year-on-year, it was still higher than projections of $2.01.
Shares in J&J, which recently agreed to purchase neurological medicine manufacturer Intra-Cellular for $14.6 billion, were hovering around the flatline in premarket US trading on Wednesday.
(Reuters contributed reporting.)