Johnson & Johnson’s Covid-19 Vaccine Adds $100 Million to Quarterly Sales
Johnson & Johnson ’s Covid-19 vaccine contributed $100 million to the company’s sales growth in the latest quarter, as U.S. health authorities re-evaluate the vaccine during a pause amid safety concerns.
As vaccination campaigns help ease the pandemic’s severity, Johnson & Johnson’s results from its other business lines showed a trend toward normality compared with the tumultuous first months of 2020.
Johnson & Johnson’s pharmaceutical revenue grew 10% year over year. Revenue from drugs such as Darzalex, for multiple myeloma, Stelara, for inflammatory diseases, and Erleada, for prostate cancer, helped drive the improvement.
Revenue from medical devices grew 11%, a recovery from the early days of the pandemic when many people put off elective medical procedures. Meanwhile, sales of consumer-health products declined by 2.3% compared with the same stretch last year, when shoppers were stocking up on health supplies to prepare for coronavirus lockdowns.
The New Brunswick, N.J.-based company logged first-quarter revenue of $22.32 billion, compared with $20.69 billion in last year’s first quarter. Analysts’ consensus forecast was for revenue of $21.98 billion, as compiled by FactSet.
