Johnson & Johnson

Ticker JNJ

Today's data summary

Market closed
% change
+8.00%
Price US dollars
133.01
Change
+9.85
As of 20:50 30 Mar 2020
Market cap. US dollars
354,115.70 million
As of 20:50 30 Mar 2020

Latest updates

J&J profits rise

drugs
Bloomberg

US drug firm Johnson & Johnson has reported results.

Its third quarter revenue of $20.73bn was slightly more than had been forecast by analysts.

Net profit rose 1.5% to $5.6bn. That amounted to $2.12 per share, 7 cents higher than the same quarter last year when the company reported EPS of $2.05.

Earlier this month the company was told to pay $8bn (£6.6bn) in punitive damages to a man over claims he was not warned that an anti-psychotic drug could lead to breast growth. J&J has said it appeal against the ruling, which it said was "grossly disproportionate".

More on Johnson & Johnson

Johnson & Johnson
Getty Images

Johnson & Johnson saw quarterly sales rise $20.02bn, a very slight increase from $20.01bn in the same period in the previous year.

However, analysts had expected sales to decline to $19.6bn.

J&J saw rising demand for several drugs, including drugs for treating bladder cancer, Crohn's disease and psoriasis.

The firm's consumer goods arm was hit by legal costs related to thousands of lawsuits over talcum baby powder and the blood thinner Xarelto. J&J'a total legal costs came to $1.29bn for the quarter, but talcum power lawsuits made up only 10% of the costs.

Johnson & Johnson in US probe

Johnson & Johnson Baby Powder
Getty Images

More on Johnson & Johnson's talc baby powder woes.

The inquiries by the Department of Justice and Securities and Exchange Commission follow news reports in December that said the firm had known about the risks for decades.

The firm said the stories had included "inaccurate statements and also withheld crucial information that had already been made public in the litigation and in prior media reports".

"We intend to co-operate fully with these inquiries and will continue to defend the company in the talc-related litigation," Johnson & Johnson said.