J&J beats quarterly sales and profit estimates on cancer drug sales

Intra-Cellular Therapies

22/01/2025 11:20

By Patrick  Wingrove and Bhanvi Satija
       Jan 22 (Reuters) - Johnson & Johnson  JNJ.N , fresh off
a $14.6 billion deal  to buy neurological drugmaker
Intra-Cellular  ITCI.N , reported fourth-quarter sales and
profit above Wall Street estimates on Wednesday, driven by
strong sales of its cancer treatments. 
    The New Jersey-based drugmaker also said it expects 2025
sales of between $90.9 billion and $91.7 billion and to earn
between $10.75 and $10.95 per share on an adjusted basis.
Analysts were expecting sales of $90.98 billion and a profit of
$10.56 per share for 2025, according to data compiled by LSEG.
    J&J's fourth-quarter sales stood at $22.52 billion, up 5.3%
from a year ago and above analysts' expectations of $22.42
billion, according to LSEG data. 
    On an adjusted basis, the company earned $2.04 per share in
the quarter - which includes a 22 cents charge related to its
acquisition of medical device-maker V-Wave - nearly 11% lower
than the previous year but beating analysts' estimates of $2.01
per share. 
    Quarterly sales of J&J's cancer drugs rose 19% worldwide,
driven by more than $3 billion for multiple myeloma treatment
Darzalex, which was up 20.9% from a year ago.
    "Darzalex continues to be a pillar brand with respect to
performance," said J&J Chief Financial Officer Joe Wolk in an
interview, noting that sales from Shockwave Medical  SWAV.O 
also helped drive growth. 
    The company is fostering growth at its medical device unit
through deals focused on heart health - including its $13.1
billion deal to acquire Shockwave Medical. 
    Shockwave generated $258 million in sales for the quarter
and $564 million for the year, according to J&J. 
    J&J's innovative medicine unit brought in fourth-quarter
sales of $14.33 billion while its medtech unit generated $8.19
billion, up 4.4% and 6.7% respectively compared to a year ago. 
    Sales of J&J's blockbuster psoriasis treatment Stelara fell
14.7% to $2.35 billion in the fourth quarter. Analysts' were
expecting sales of $2.25 billion, according to LSEG data. 
    Close copies of Stelara launched in Europe, Canada and a few
other markets last year. Several Stelara biosimilars are
expected to launch in the U.S. this year. 
    For the full year, Stelara brought in revenue of $10.36
billion, making up more than 18% of J&J's total drug sales of
$56.96 billion for 2024. Analysts were expecting sales of $10.59
billion. 
        Annual sales of the drug are expected to fall to about
$7 billion this year. 
    Darzalex brought in annual sales of $11.67 billion, making
it J&J's biggest-selling drug. Analysts were expecting sales of
$11.11 billion for this year. 


 (Reporting by Patrick Wingrove in New York and Bhanvi Satija in
Bengaluru; Editing by Stephen Coates)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))