J&J Raises Annual Forecast as Quarter Beats Expectations
- Pharma, device sales rebound strongly from year-ago period
- Drugmaker sees $2.5 billion in 2021 Covid vaccine sales
Photographer: Mark Kauzlarich/Bloomberg
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Johnson & Johnson raised its annual adjusted earnings and revenue forecast as quarterly sales rebounded strongly from a year ago, when the pandemic stifled non-Covid procedures.
The health-care giant boosted its profit forecast to $9.60 to $9.70 a share, up from as much as $9.57, helped by the performance of its drug and medical-device units and sales of Covid-19 shots. The company also raised its revenue outlook to as much as $94.6 billion from an earlier range that topped out at $91.6 billion.