Growing pharmaceutical sales, also in the U.S., helped the world’s biggest health products maker counter damage from the pandemic, which forced patients to delay surgeries. J&J on Thursday said it expects 2020 earnings of US$7.75 to US$7.95 per share, and sales of between US$81 billion and US$82.5 billion. J&J’s quarterly net income fell by 35 percent to US$3.63 billion, while adjusted earnings totaled US$1.67 per share. Industry analysts had expected J&J to take a bigger hit from the pandemic, having projected per-share earnings of US$1.49, and US$17.61 billion in revenue. Worldwide revenue from consumer health products fell by 7 percent to US$3.3 billion in the quarter.

Source: The Standard July 16, 2020 14:24 UTC