REUTERS: Johnson & Johnson hiked its full-year profit forecast for the second time in 2020, as strong demand for its cancer and Crohn's disease treatments largely offset the impact to its businesses from the COVID-19 pandemic.
The strong third-quarter results come a day after the company said it had temporarily paused its COVID-19 vaccine candidate clinical trials due to an unexplained illness in a study participant, delaying one of the highest profile efforts to contain the global pandemic.In the third quarter, sales rose to US$21.08 billion from US$20.73 billion, helped by rise in sales of its cancer drugs Darzalex and Imbruvica, as well as Crohn's disease drug Stelara.
The company expects full-year 2020 adjusted profit of US$7.95 to US$8.05 per share, from its prior range of US$7.75 to US$7.95 per share. Profit more than doubled to US$3.55 billion in the third quarter, from a year earlier when the company had recorded"other expenses" of US$4.21 billion. On an adjusted basis, the company earned US$2.20 per share, beating analysts' estimates of US$1.98 per share, according to IBES data from Refinitiv.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Johnson & Johnson pauses COVID-19 vaccine trials due to unexplained illness in participantREUTERS: Johnson & Johnson said on Monday (Oct 12) it has temporarily paused its COVID-19 vaccine candidate clinical trials due to an unexplained ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
J&J pauses COVID-19 vaccine trials due to unexplained illness in participantJohnson & Johnson's COVID-19 vaccine study has been paused due to an unexplained illness in a study participant, Stat News reported on Monday, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Protect the whole soccer family, PM Johnson's spokesman tells top clubsEngland's top soccer clubs need to come up with a package of support for the whole sport, Prime minister Boris Johnson's spokesman said on Monday, ... There is a few on this planet that had failed the city , and Johnson just one of them
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Protect the whole football family, PM Johnson's spokesman tells top clubsEngland's top soccer clubs need to come up with a package of support for the whole sport, Prime minister Boris Johnson's spokesman said on Monday, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Top British medic Whitty warns PM Johnson's plans won't stop coronavirusLONDON (BLOOMBERG) - British Prime Minister Boris Johnson announced bars and pubs will be closed in the worst-hit parts of England from Wednesday (Oct 14) to control a surge in coronavirus, but his top health adviser said it won't be enough.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Turning local, British PM Johnson to unveil new COVID-19 rules in EnglandLONDON: British Prime Minister Boris Johnson is expected to announce new measures to tackle a growing coronavirus crisis on Monday (Oct 12), ... Hi! Just wanted to point out that Monday is 12 Oct, not 11th as stated in the first para!
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »