Yesterday, Johnson & Johnson announced its third-quarter financial report. In the latest quarter, Johnson & Johnson's sales reached 21.35 billion U.S. dollars, increasing by 6.8% compared to the same period last year. This revenue figure exceeded the previous consensus forecast of 21.05 billion U.S. dollars by Seeking Alpha. The company’s adjusted operational sales in the third quarter increased by 4.9% compared to the same period in 2022. Based on this growth, Johnson & Johnson has raised its previously lowered 2023 earnings forecast again, stating that the current expected range is between 83.6 billion and 84 billion U.S. dollars.Most of Johnson & Johnson's revenue in the third quarter came from its innovative pharmaceuticals business, which focuses on developing drugs across various disease areas, generating $13.89 billion for Johnson & Johnson, a 4.4% increase in adjusted operational sales compared to the same period in 2022.Johnson & Johnson's best-selling asset is Stelara (ustekinumab), used to treat psoriasis, which generated over $2.8 billion in global sales in the third quarter. Stelara is also approved for treating psoriatic arthritis, ulcerative colitis, and Crohn's disease. Following that is Darzalex (daratumumab), a drug for multiple myeloma, which achieved nearly $2.5 billion in sales in the third quarter.Johnson & Johnson's COVID-19 vaccine saw the steepest decline, generating only $41 million in global sales in the third quarter, which is nearly a 98% drop compared to the same period in 2022. Excluding its COVID-19 business, the operational sales growth of Johnson & Johnson's innovative pharmaceuticals segment was 8.2%.Johnson & Johnson hopes to maintain this growth through some regulatory milestones in the coming months. These include the submission to the FDA and potential approval of Akeega (niraparib/abiraterone), which is proposed for first-line treatment of metastatic castration-resistant prostate cancer.Besides, Johnson & Johnson is also waiting for the FDA's approval decision on Talvey (talquetamab) for relapsed/refractory multiple myeloma and is working to submit applications for Carvykti (ciltacabtagene autoleucel) and Edurant (rilpivirine) for pediatric HIV.1.https://www.biospace.com/article/j-and-j-sees-nearly-7-percent-growth-in-q3-increases-full-year-guidance/
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