mohd izzuan/iStock via Getty Images Johnson & Johnson ( NYSE: JNJ ) posted better-than-expected financials for Q2 2024 on Wednesday, thanks mainly to its pharma unit, currently known as Innovative Medicine, while its MedTech division fell short of forecasts. JNJ’s ( JNJ ) blockbuster drugs Stelara, Invega Sustenna, and Darzalex contributed to the outperformance, helping New Brunswick, New Jersey-based healthcare giant beat Street estimates for revenue by $60M. The company reported $22.
4B in sales for the quarter, with ~4% YoY growth as Stelara, which will face low-cost generics in the U.S. next year, added $2.
9B, with ~3% YoY growth exceeding the consensus data compiled by Bloomberg. Meanwhile, Darzalex, a multiple myeloma drug JNJ markets with Genmab ( GMAB ), brought $2.9B to the top line, while antipsychotic Invega Sustenna generated $1.
1B with ~18% YoY and ~2% YoY growth, respectively. Other notable JNJ products, cancer cell therapy Carvykti and bispecific antibody Tecvayli marketed with Legend Biotech ( LEGN ) and Ligand Pharmaceuticals ( LGND ), respectively., generated $186M and $135M in sales with ~60% YoY and ~43% growth, However, sales from blood thinner Xarelto marketed with Bayer ( OTCPK:BAYZF ) fell ~8% YoY to $587M.
JNJ’s MedTech division added $8.0B to the topline, missing the consensus of $8.22B despite ~4% YoY operational growth.
The expansion was driven by a 0.4% positive impact from acquisitions and divestments, including the company’s recent acquisit.
