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Johnson & Johnson tops 3Q Street view but shares decline

SeattlePI.com Tuesday, 18 October 2016 ()
The maker of Band-Aids, medical devices and prescription drugs beat Wall Street's expectations, maintained its 2016 revenue forecast, raised the lower end of its profit forecast and said it's on track for the approval and launch of 10 new medicines between 2015 and 2020. [...] on a conference call after the results were released, analysts peppered J&J executives with questions about how it will prevent Pfizer Inc.'s Inflectra from siphoning off sales of J&J's biologic immune disorder drug Remicade, which has earned J&J tens of billions of dollars since its 1998 launch. Xarelto, for preventing strokes and heart attacks, saw sales jump 15 percent to $529 million in the quarter, while sales of biologic psoriasis drug Stelara soared 33 percent to $814 million and sales of new leukemia and lymphoma treatment Imbruvica nearly doubled to $349 million. Medical device sales edged up 1.1 percent to $6.16 billion, while sales of consumer health products such as Tylenol and Motrin pain relievers fell 1.6 percent to $3.26 billion.
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News video: Why International Investors Should Reconsider the U.K.

Why International Investors Should Reconsider the U.K. 05:24

Oct. 14 -- Rick Lacaille, chief investment officer at State Street Global Advisors, discusses volatility in U.K. markets and his thoughts on investing. He speaks with Guy Johnson and Caroline Hyde on “Bloomberg Markets: European Open.”

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