Johnson & Johnson (NYSE:JNJ) conquers 3rd quarter charts with high drug sales
Johnson & Johnson (NYSE:JNJ) revealed its 3rd quarter earnings reports before market opened on Tuesday. Johnson & Johnson (NYSE:JNJ), a well reputed health care corporation, reported earnings of $1.50/share $18.47 revenue. The same quarterly earnings last year were $1.36 per share. Hence, it is safe to say that Johnson & Johnson (NYSE:JNJ) is doing good business. The earnings report didn’t include the $500,000 after tax benefits that the company got from the disposal of its unit Ortho-Clinical Diagnostics. On the basis of GAAP, Johnson & Johnson (NYSE:JNJ) made $1.66.
In July, 2016; Johnson & Johnson (NYSE:JNJ) elevated its share price between $5.92 and $5.97/share. In current year’s initial nine months, the company made $56.08 billion and $4.70 EPS that was diluted adjusted.
CEO of the company stated that their current performance reflects consistency and success of their old and new products. He went on to say that he was optimistic about the future of the company and proud of his team which has remained focused throughout.
The only bad news for Johnson & Johnson (NYSE:JNJ) came in the form of the slump in the worldwide sales; they slipped to $3.6 billion, which is a drop by 0.6% year-over-year. This includes 0.9 percent impact of negative currency and 0.3 percent positive operational impact. Sales for pharmaceuticals rose up to 8.3 billion dollars; diagnostics sales and medical devices fell by 5.2% landing at 6.6 billion dollars.
The third quarter brought an increase in the operational results by 5.8 percent, while the impact of negative currency was 0.7 percent. Domestic sales elevated by 11.6 percent while international sales slumped down by 0.3 percent. Even after the impact of the divestment, worldwide sales have gone up by 8.4 percent, whereas domestic and international sales have gone up by 14.8% and 3.1%, respectively.
Drug sales have fuelled Johnson & Johnson (NYSE:JNJ) and the company is on high tide because of the sales made from the pharmaceutical franchise. Johnson & Johnson (NYSE:JNJ) announced 5 billion stock buyback programs that will start in July 2016.
Johnson & Johnson (NYSE:JNJ) has been trading about 1.5 percent higher before market opened on Tuesday morning. It is one of the most fortunate companies that has been on a consistent run and is still growing. The company largely owes its success to the different categories that falls under the franchise.
It is also being reported that the drug that is helping Johnson & Johnson (NYSE:JNJ)’s sales surge will be out of the market because of tough competition from a different and more robust formula.
At the end of September, Johnson & Johnson (NYSE:JNJ) announced that it plans to acquire Alios BioPharma, a biotech company focused on developing existing therapies for viral diseases.
In the wake of the latest Ebola outbreak crisis, Johnson & Johnson (NYSE:JNJ) is fast-tracking the development of a vaccine regime against the disease and has been engaged in working with partners that will deliver immediate aid to address it.