Johnson & Johnson on Tuesday reported fourth-quarter revenues and earnings that beat Wall Street’s expectations. The business also stated it would launch key information on its coronavirus vaccine “soon.”
Here’s how J&J did compared with what Wall Street anticipated, according to average price quotes put together by Refinitiv:
86 per share versus $1.82 anticipated.
- Income: $2248 billion versus $2167 billion anticipated.
” I’m extremely pleased with our Johnson & Johnson groups around the globe for exceeding and beyond to meet stakeholder needs,” CEO Alex Gorsky said in a press release. “We continue to advance our COVID-19 vaccine candidate and eagerly anticipate sharing information from our Stage 3 research study quickly.”
J&J’s share price was basically flat in premarket trading following the report.
J&J’s pharmaceutical service, which is dealing with a coronavirus vaccine, produced $1226 billion in profits, a 16%year-over-year increase as demand rose for its prescription drugs. The company’s customer system, which makes items such as Listerine, generated $3.6 billion in revenue, up 1.4%from a year earlier. Its medical device system generated $6.58 billion, a 0.7?crease.
The business anticipated an adjusted earnings for 2021 of $9.
J&J is anticipated to launch information from its phase 3 trial testing its Covid-19 vaccine as early as this week.
Unlike Pfizer’s and Moderna’s licensed vaccines, which need two dosages provided about three to 4 weeks apart, J&J’s needs just one dose.
J&J Chief Financial Officer Joseph Wolk told CNBC on Tuesday the business expects the stage three trial data to be “robust.” He stated it’s possible there may be differences in outcomes for individuals evaluated in places like South Africa, where there is a brand-new, highly infectious strain of the virus.
Moderna stated Monday it is working on a booster shot to guard against the stress found in South Africa after it discovered its current vaccine seemed less effective.
” It’s going to be extremely inclusive in regards to having particular ethnicities [such as] Blacks, Hispanics and the elderly,” Wolk stated during an interview with “ Squawk Box” “Because it’s so varied because of the geographical representation that might provide a great deal of insights,” he said.
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