Johnson & Johnson, which runs a large medical device business in addition to its pharmaceuticals unit, forecast 2021 adjusted profit of between $9.40 and $9.60 per share, compared with analysts' estimates of $8.99 per share, according to IBES data from Refinitiv. The company's fourth-quarter profit fell 56.7% to $1.74 billion. The company reported that it had recorded litigation expenses of $2.9 billion in the fourth quarter. J&J faces a litany of lawsuits over its marketing of opioids, its pelvic meshes and body powders. The company's fourth-quarter sales rose to $22.48 billion from $20.75 billion, helped by higher demand for cancer drugs.

Source: bd News24 January 26, 2021 12:11 UTC