J&J bullish on 2021 profits, keeps vaccine sales outlook unchanged

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Johnson & Johnson on Tuesday raised its annual adjusted profit forecast, but stuck to its COVID-19 vaccine sales target of $2.5 billion as it works through production challenges that have resulted in delays.

The J&J shot, once touted an as important tool for vaccinating hard-to-reach areas, is behind its schedule for deliveries in the United States and Europe.

Shares fell marginally in premarket trading after the company missed Wall Street estimates for third-quarter sales, setting the tone for results from other pharma companies and medical devices makers.

 

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