J&J Fends Off Competition for Top Drug, Raises 2017 Forecast
- Company forecasts adjusted 2017 EPS of $7.25 to $7.30
- Third-quarter adjusted earnings top analysts’ estimates
J&J CFO Says 3Q Earnings Beat Driven by Actelion Deal
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Johnson & Johnson’s top-selling biotechnology drug Remicade fended off competitors in the third quarter, amid accusations by a rival drugmaker that it’s using unfair tactics to block patients from getting alternative products.
Remicade is J&J’s biggest product, and the New Brunswick, New Jersey-based drugmaker has seen limited impact on the blockbuster despite losing patent protection and as cheaper “biosimilar” copies of the complex drug have become available.