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J&J Sees Slowing 2019 Growth in a Warning to Health-Care Sector

  • Drug prices, strong dollar put pressure on health conglomerate
  • ‘We still have more work to do,’ CEO Gorsky says on call
Johnson & Johnson Neutrogena brand healthy lengths mascara and makeup remover cleansing towelettes are arranged for a photograph in the Brooklyn Borough of New York, U.S., on Wednesday, April 11, 2018. Johnson & Johnson is scheduled to release earnings figures on April 17.
Photographer: Gabby Jones/Bloomberg
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Johnson & Johnson, the world’s largest maker of health-care products, said it expects growth to slow or halt this year, a warning as the rest of health-care sector prepares to give 2019 guidance in the coming weeks.

The company’s shares fell 1.8 percent Tuesday morning after saying that revenue this year will grow somewhere between 0 and 1 percent -- potentially worse when the strong dollar is factored in. While the company often tops the targets it sets for itself, the 2019 goal pales in comparison to its projections a year ago for sales growth of almost 2 percent.