By Kelly Cloonan
Johnson & Johnson boosted its full-year outlook as it posted better-than-expected profit and sales in the second quarter.
The healthcare-products company said Tuesday it now expects adjusted per-share earnings of $10.80 to $10.90, up from its previous range of $10.50 to $10.70. Analysts polled by FactSet expect $10.64.
The company also raised its sales outlook for the year to a range of $93.2 billion to $93.6 billion, compared with its prior view of $91 billion to $91.8 billion. Analysts surveyed by FactSet forecast sales of $91.42 billion for the year.
Chief Executive Joaquin Duato said the company is positioned for elevated growth in the second half of the year with approvals and submissions anticipated in areas including lung and bladder cancer, depression and psoriasis.
The forecast also reflects favorable foreign-exchange effects, the company said.
The updated outlook came as J&J posted a profit of $5.54 billion, or $2.29 a share, in the second quarter, compared with a profit of $4.69 billion, or $1.93 a share, a year earlier.
Adjusted per-share earnings of $2.77 topped the $2.68 that analysts were looking for.
Sales rose 5.8%, to $23.74 billion, coming in ahead of the $22.85 billion that analysts expected.
J&J's pharmaceutical business logged a 4.9% gain, driven in part by cancer drugs including Darzalex, Carvykti and Erleada, as well as depression treatment Spravato. Growth was partially offset by declining sales of Stelara, a treatment for psoriasis and Crohn's disease, patents for which have begun to expire.
Medical-device sales rose 7.3%. The growth was driven by Abiomed, the company's subsidiary that manufactures cardiovascular medical implant devices, as well as higher sales of electrophysiology and wound-closure products.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
July 16, 2025 06:20 ET (10:20 GMT)
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