A Johnson & Johnson logo can be seen in front of a medical syringe and vial of coronavirus vaccine in this photo illustration.
Pavlo Gonchar | SOPA pictures | LightRakete | Getty Images
Johnson & Johnson said Wednesday that it expects to sell $ 2.5 billion of its Covid-19 vaccine this year, even as concerns about the effectiveness of the shot against the Delta variant mount.
When it released its financial results for the second quarter, the company also reported earnings and revenues that exceeded Wall Street’s expectations.
According to Refinitiv’s average estimates, J&J has performed as follows compared to Wall Street expectations:
- Adjusted earnings per share: $ 2.48 per share versus an expected $ 2.27.
- Revenue: $ 23.31 billion versus an expected $ 22.21 billion.
The company’s share price rose nearly 1% in pre-market trading, according to the report.
J & J’s pharmaceuticals business, which developed the Covid single-shot vaccine, had sales of $ 12.59 billion, up 17.2% year over year.
The company’s consumer division, which makes products like Neutrogena Face Wash and Listerine, had sales of $ 3.7 billion, up 13.3% from last year. The medical device business was $ 6.9 billion, an increase of 62.7%. That unit was hit hard last year when the pandemic forced hospitals to postpone elective surgeries and Americans stayed at home.
Worldwide sales for the Covid vaccine were $ 164 million for the quarter.
This is a developing story. Please check again for updates.