JNJ Johnson and Johnson

By Kimberly Chin 

Johnson & Johnson raised its full-year financial targets on Tuesday as it reported sales strength in its pharmaceutical division, though the company had a weaker showing in its other segments.

The New Jersey-based company anticipates adjusted earnings this year to be between $8.53 to $8.63 per share, up from its prior forecast of $8.50 to $8.65 a share. It expects operational sales to be between $82 billion and $82.8 billion, up from $81.6 billion to $82.4 billion as previously targeted.

Sales in its pharmaceuticals division in the U.S. rose 4.1% in the first quarter to $10.24 billion, driven by sales from its multiuse treatment Stelara, its blood-disease treatment Imbruvica, and the multiple myeloma treatment Darzalex. Imbruvica and Darzalex both received regulatory approvals in the prior quarter.

Meanwhile, sales in its other divisions declined. Revenue from its consumer segment fell 2.4% to $3.32 billion. Sales in its medical devices business also fell 4.6%.

Overall sales were flat from a year ago at $20.02 billion though it was still ahead of analysts polled by Refinitiv's expectations of $19.61 billion.

Shares rose 1.2% in premarket trading.

J&J's profit fell 14% from the year-ago quarter to $3.75 billion, or $1.39 a share. Analysts expected earnings of $1.67 a share.

J&J made $2.10 an adjusted share, missing analysts' estimates by 7 cents.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

April 16, 2019 07:38 ET (11:38 GMT)

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