J&J Reiterates Importance Of Responsible Drug Pricing While Issuing Cautious Forecast
J&J was the first major health care company to report results since the president's scathing remarks on high drug prices.
Bloomberg:
J&J’s Forecast Disappoints As Drugmaker Mulls Diabetes Unit Sale
J&J, the world’s biggest health-care company, also said it’s evaluating potential strategic options for its diabetes care business that could include a sale, partnerships or joint ventures, according to a statement Tuesday. The profit for this year will be $6.93 to $7.08 a share, excluding some items, J&J said, lower than the $7.11 average of estimates compiled by Bloomberg. Fourth-quarter earnings were $1.58 a share, topping projections of $1.56. (Hopkins, 1/24)
Reuters:
Johnson & Johnson Plans More Price Transparency; Eyes U.S. Tax, Healthcare Changes
Johnson & Johnson's chief executive officer said on Tuesday that responsible drug pricing is a priority and discussed changes he would like to see on the U.S. tax code and healthcare policy, one day after meeting with President Donald Trump. The diversified healthcare group got off to a rocky start to the year, forecasting 2017 sales and profit below Wall Street estimates and reporting 2016 fourth-quarter sales short of expectations. J&J shares fell 2.1 percent to $111.52. (1/24)
The Wall Street Journal:
Johnson & Johnson Posts Rise In Revenue And Profit, Issues Cautious Forecast
The company is in talks to buy Actelion Pharmaceuticals Ltd., a Swiss maker of rare-disease drugs that had about $1.8 billion in sales during the first nine months of last year. On a conference call, J&J Chief Executive Alex Gorsky declined to comment on the Actelion discussions other than to acknowledge them. Mr. Gorsky also said J&J is assessing a wide range of options, including potential sales, for its diabetes businesses that sell devices such as blood-glucose meters and insulin pumps. (Rockoff and Hufford, 1/24)
MarketWatch:
Johnson & Johnson Tumbles Into Pricing Debate After Lackluster Fourth-Quarter Drug Sales
Lackluster fourth-quarter drug sales have quickly propelled Johnson & Johnson square into a debate about drug pricing that the company has sought to head off. Nearly half of Johnson & Johnson sales are in pharmaceutical drugs, which increased U.S. revenue in the latest quarter by only 2% year-over-year, according to Leerink analyst Geoffrey Porges. Growth was slightly better outside the U.S., at 3.5% net of the effect of currency, Porges said. (Court, 1/24)
