By Patrick Wingrove and Bhanvi Satija
(Reuters) -Johnson & Johnson, fresh from a $14.6 billion deal to buy neurological drug maker Intra-Celular, reported fourth-quarter sales and earnings above Wall Street estimates on Wednesday, driven by strong sales of your cancer treatments.
The New Jersey-based drugmaker also said it expects 2025 sales of between $90.9 billion and $91.7 billion and to earn between $10.75 and $10.95 per share on an adjusted basis. Analysts were waiting for sales of $ 90.98 billion and a gain of $ 10.56 per share by 2025, according to the data compiled by LSE.
J&J’s fourth-quarter sales stood at $22.52 billion, 5.3% higher than analyst expectations and above analysts’ estimates of $22.42 billion, according to LSEG data.
On an adjusted basis, the company earned $2.04 per share in the quarter, which included a 22-cent charge related to its acquisition of medical device maker V-Wave, down nearly 11% from a year earlier, but estimates analysts’ previous $2.01 per share.
J&J’s quarterly cancer drug sales rose 19% worldwide, boosted by more than $3 billion for multiple myeloma treatment Darzalex, which rose 20.9% from a year ago.
“Darzalex remains a pillar brand with respect to performance,” Joe Wolk, J&J’s chief financial officer, said in an interview, noting that sales of Shockwave Medical also helped drive growth.
J&J has been on an acquisition spree to boost its drug and device businesses after spinning out of its consumer unit in 2023. Last week, it announced a $14.6 billion deal for intracellular, its biggest deal in two years. to boost its psychiatry drugs portfolio.
Last year, J&J bought cardiac device maker Shockwave Medical for $13.1 billion. Shockwave generated $258 million in sales for the quarter and $564 million for the year, according to J&J.
J&J’s Innovative Medicine Unit brought in fourth-quarter sales of $14.33 billion, while its MedTech unit generated $8.19 billion, an increase of 4.4% and 6.7% respectively compared to a year ago.
Sales of J& J psoriasis success, Stelara, fell 14.7% to $ 2.35 billion in the fourth quarter. Analysts were waiting for sales of $ 2.25 billion, according to LSE data.
Near Copies of Stelara launched in Europe, Canada and some other markets last year. Several Stelara biosimilars are expected to launch in the United States this year.
For the full year, Stelara generated revenue of $10.36 billion, representing more than 18% of J&J’s total drug sales of $56.96 billion by 2024. Analysts expected sales of $10. 59 billion dollars for Darzalex.