Johnson & Johnson net earnings rise to US$6.2b, sales soar to US$100m
Tuesday, April 20, 2021
Johnson & Johnson, whose coronavirus vaccine was put on pause last week to review reports of rare blood clots, reported US$100 million in first-quarter sales of the shot on Tuesday and tightened its forecast for profits this year, Reuters reports.
The company has previously said the vaccine will be available on a not-for-profit basis until the end of the pandemic.
The company now expects full-year adjusted profit of US$9.42 to US$9.57 per share from its prior forecast of US$9.40 to US$9.60 per share, after sales of its cancer drugs helped quarterly profit rise by nearly 7 percent.
Net earnings grew to US$6.20 billion, or US$2.32 per share, in the first quarter from US$5.80 billion, or US$2.17 per share, a year earlier.