In the mixed quarterly report, J&J expects more than $3 billion in Covid vaccine sales this year

JJ expects Covid vaccine sales of more than  billion this year

January 26, 2022: On Tuesday, Johnson & Johnson (J&J) projected that its Covid vaccine would generate $3 billion to $3.5 billion in sales in 2022, after posting a mixed fourth-quarter report that beat on earnings estimates but missed on revenue.

On an unadjusted basis, J&J’s fourth-quarter profits increased to $4.74 billion, nearly triple the $1.74 billion it earned during the same quarter the previous year. Its revenue of $24.8 billion increased 10.8% from $22.48 billion during the same quarter in 2020, driven mainly by $1.82 billion in international sales of its Covid vaccine.

The company’s shares decreased by 2% in premarket trading. CFO Joseph Wolk told CNBC a strengthening dollar negatively impacted top-line sales by $150 million to $200 million. He added that supply constraints hit the consumer health division in raw materials, labor shortages among third-party manufacturers, and higher transportation costs. Hospital staffing shortages caused by the omicron Covid variant generated uncertainty in the company’s medical devices business, particularly with elective procedures, Wolk said.

“We think those are short-lived,” Wolk told CNBC. “We think the second half of 2022 will be stronger than the first half, but few of these dynamics continue into the part of this year.”

J&J reports almost $93.77 billion in sales in 2021, a 13.6% increase over the last year. The company’s pharmaceutical division generated $52.08 billion in revenue, a 14.3% year after year increase. J&J’s medical devices business reported $27.06 in 2021, a 17.9% increase compared with 2020. The consumer health section posted $14.63 billion in revenue, a 4.1% growth.

J&J says that it expects to generate $10.40 to $10.60 in earnings per share this year and $98.9 billion to $100.4 billion in revenue.

CEO Joaquin Duato will lead J&J’s earnings to call this morning for the first time in his new role. Duato took the reins from Alex Gorsky earlier this month.

The fourth-quarter results mark the end of a challenging year for J&J. Public confidence in the company’s single-shot Covid vaccine took a hit in December when the Centers for Disease Control and Prevention recommended Pfizer and Moderna’s vaccines over J&J’s shot. The CDC found dozens of people, mostly younger women, developed a rare blood clot condition after receiving J&J’s vaccine. In June, J&J lost its appeal to have the Supreme Court review $2.1 billion in

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J&J expects Covid vaccine sales of more than $3 billion this year
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J&J expects Covid vaccine sales of more than $3 billion this year
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J&J’s fourth-quarter profits increased to $4.74 billion, nearly triple the $1.74 billion it earned during the same quarter the previous year.
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The Women Leaders
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