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J&J Sees Sales, Profit Growth Diluted by Dollar’s Strength

  • Heavy mix of international sales hit by currency effects
  • Branded drug sales, including Covid vaccine, beat expectations
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Johnson & Johnson lowered its earnings and revenue forecast for the year as the strengthening dollar hit its heavy mix of international sales.

Adjusted earnings for 2022 will be $10 to $10.10 a share, the New Brunswick, New Jersey-based health conglomerate said Tuesday in a statement, down from an earlier range of $10.15 to $10.35 a share. Quarterly sales of branded drugs and the company’s Covid-19 vaccine both beat expectations.