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J&J Buoyed by Tylenol, Branded Drugs While Devices Struggle

  • In health giant’s first quarter, sales and earnings increased
  • Consumer unit outperforms as medical-device sales take a hit
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J&J Hopes to Produce 1B Covid-19 Vaccinations by Early 2021, CFO Says
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Johnson & Johnson reined in its outlook for the year after the coronavirus pandemic caused a first-quarter surge in demand for consumer brands like the pain reliever Tylenol but eroded sales of its medical devices.

J&J’s results are an early indication of how consumers and health-care providers shifted their behavior as Covid-19, the disease caused by the coronavirus, started to spread in the U.S. Sales of medical devices dropped as elective surgeries were put off to clear space for coronavirus patients. Many patients also shifted from 30-day to 90-day supplies of prescription medicines in preparation for a prolonged stretch at home.