J&J posts strong 3rd-qtr sales growth but misses expectations

US health care giant Johnson & Johnson (NYSE: JN) today was the first pharma to report third-quarter 2021 financials, noting that group sales for the period were up 10.7% at $23.34 billion, but missed analysts’ expectations of $23.72 billion.

Operational growth was 9.9% and adjusted operational growth of 10.6%. Earnings per share of $1.37 increasing 3.0% and adjusted earnings per share of $2.60 increasing 18.2% just beat analysts’ expectations of $2.35.

“Our third-quarter results demonstrate solid performance across Johnson & Johnson, driven by robust above-market results in Pharmaceuticals, ongoing recovery in Medical Devices, and strong growth in Consumer Health,” said Alex Gorsky, chairman and chief executive, adding: “In the face of evolving marketplace dynamics resulting from the effects of COVID-19 and other global trends, we have continued to demonstrate the responsiveness and agility required to meet the needs of our stakeholders, while also successfully investing in a pipeline of innovation and key commercial platforms to drive our future growth. I am incredibly proud of our company’s transformative growth over the last decade. As I prepare to transition the role of CEO to Joaquin Duato in January, I want to extend my deepest gratitude to our colleagues around the globe who work tirelessly to deliver solutions to address the world’s most urgent and unmet healthcare challenges.”