Johnson & Johnson, the renowned pharmaceutical giant, is making waves in the industry with its latest financial report. Following the recent acquisition of neurological drugmaker Intra-Cellular for a staggering $14.6 billion, the company has surpassed expectations with its fourth-quarter sales and profit figures.
In a statement released on Wednesday, Johnson & Johnson revealed that its fourth-quarter sales reached $22.52 billion, marking a 5.3% increase from the previous year. This impressive performance exceeded Wall Street analysts’ projections of $22.42 billion, showcasing the company’s resilience and growth trajectory.
Driving this success were robust sales of Johnson & Johnson’s cancer treatments, with quarterly sales of cancer drugs surging by 19% globally. Notably, the multiple myeloma treatment Darzalex contributed significantly to this growth, raking in over $3 billion in sales, a 20.9% increase from the prior year. Joe Wolk, the Chief Financial Officer of Johnson & Johnson, emphasized the pivotal role of Darzalex in the company’s overall performance, highlighting its status as a cornerstone brand.
Looking ahead, Johnson & Johnson is optimistic about its future prospects, projecting sales between $90.9 billion and $91.7 billion by 2025. The company also anticipates earning between $10.75 and $10.95 per share on an adjusted basis for the same period. These forecasts exceed analysts’ expectations, who had predicted sales of $90.98 billion and a profit of $10.56 per share for 2025.
Furthermore, Johnson & Johnson’s strategic acquisitions, including the recent purchase of Intra-Cellular and heart device maker Shockwave Medical, underscore its commitment to expanding its pharmaceutical and medical device portfolios. These acquisitions have bolstered the company’s innovative medicine and medtech units, driving fourth-quarter sales to $14.33 billion and $8.19 billion, respectively.
Despite these successes, sales of the blockbuster psoriasis treatment Stelara experienced a decline of 14.7% in the fourth quarter, totaling $2.35 billion. This dip was attributed to the launch of similar products in key markets, signaling a shift in the competitive landscape. However, Stelara remains a significant revenue contributor, generating $10.36 billion for the full year and accounting for over 18% of Johnson & Johnson’s total drug sales in 2024.
On the horizon, analysts anticipate a shift in the dynamics of Johnson & Johnson’s drug portfolio, with expectations for Darzalex sales to decrease to around $7 billion this year. Despite this projected decline, Darzalex remains the company’s highest-selling drug, having amassed annual sales of $11.67 billion. Analysts had forecasted sales of $11.11 billion for this year, underscoring the drug’s continued success and market demand.
Additionally, the company’s cancer cell therapy Carvykti reported sales of $334 million for the quarter and $963 million
