Johnson & Johnson Beats Estimates for First Quarter, Reports $100 Million in COVID Vaccine Sales

February 3, 2018 Fremont / CA / USA - Johnson & Johnson logo in front of one of their office buildings, Fremont, East San Francisco bay area, California.
Sundry Photography / Shutterstock.com

Johnson & Johnson, whose single-shot COVID vaccine has been put on hold, released its first-quarter earnings today, beating analysts’ expectations. The company also reported $100 million in sales of its COVID vaccine.

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The company reported first-quarter sales of $22.3 billion, a growth of 7.9%, beating analysts’ expectations of $22 billion, according to Seeking Alpha. Earnings per share increased 12.6% to $2.59, compared to Seeking Alpha’s estimate of $2.35.

The company also increased its 2021 full-year guidance for sales growth to 9.3%.

“Johnson & Johnson delivered a strong first-quarter performance led by the above market growth of our Pharmaceutical business and continued recovery in Medical Devices,” Alex Gorsky, chairman and CEO said in the earnings statement. “The ability to deliver these results while simultaneously advancing our robust pipeline of life enhancing medicines, products and solutions during these times is a testament to the strength and resilience of our business and the dedication of the 135,000 employees of Johnson & Johnson who strive every day to profoundly change the trajectory of health for humanity and make healthier communities for everyone, everywhere.”

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Last week, the Food and Drug Administration and the Centers for Disease Control announced they were recommending a pause in the use of Johnson & Johnson’s Janssen COVID-19 Vaccine “out of an abundance of caution” following reports of blood clots, according to a joint statement.

The issues under review involve six reported U.S. cases of a rare and severe type of blood clot in individuals after receiving the J&J vaccine.

“In these cases, a type of blood clot called cerebral venous sinus thrombosis (CVST) was seen in combination with low levels of blood platelets (thrombocytopenia). All six cases occurred among women between the ages of 18 and 48, and symptoms occurred 6 to 13 days after vaccination,” according to the statement.

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About the Author

Yaël Bizouati-Kennedy is a former full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yaël is now freelancing and most recently, she co-authored  the book “Blockchain for Medical Research: Accelerating Trust in Healthcare,” with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.

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