Headline results for the second quarter:
Prescription drug sales: $13.7 billion, up 3.1%
Overall revenue: $25.5 billion (forecasts of $24.6 billion), up 6.3%
Profit: $5.1 billion, up 6.9%
Note: All changes are versus the prior-year period unless otherwise stated
CEO Joaquin Duato, who has been in the job for just over a year, said "we are entering the back half of the year from a position of strength with numerous catalysts, including becoming a two-sector company focused on pharmaceutical and medtech innovation."
Immunology product sales: $4.5 billion, up 1.9%
Stelara: $2.8 billion, up 7.6%
Tremfya: $706 million, up 18.3%
Remicade: $462 million, down 28.6%, hit by biosimilar competition
Oncology product sales: $4.4 billion, up 8.8%
Imbruvica: $841 million, down 13.2%, due to "global competitive pressure"
Zytiga: $227 million, down 55.1%, following loss of exclusivity Carvykti: $117 million, up from $24 million in the prior year
Consumer health: $4 billion, up 5.4%, which was recently split off into a standalone company called Kenvue
Johnson & Johnson now expects sales this year of between $98.8 billion and $99.8 billion, with both ends lifted by $900 million from the guidance issued in April. The company added that it sees "slightly higher" operational sales growth in the second half of the year for prescription drugs. Meanwhile, earnings in 2023 are predicted to be from $10.70 to $10.80 per share, with both ends of the range increased by $0.10 from an earlier estimate. above estimates of $10.65 per share