Johnson & Johnson Forecasts Profit Decline on Competition
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Johnson & Johnson, the world’s biggest maker of health-care products, forecast lower earnings in 2015 as competition cuts into revenue for some of its best-selling drugs. The shares slumped the most in three months.
Adjusted profit this year will reach $6.12 to $6.27 a share, the company said today. That figure excludes an estimated charge of 32 cents a share for intangible amortization costs -- an expense Johnson & Johnson previously included in its pro forma results. Incorporating that figure, 2015 earnings would be $5.80 to $5.95 a share, compared with 2014 adjusted profit of $5.97 a share.