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BUSINESS A25
Wednesday 27 January 2016
Johnson & Johnson beats 4Q profit views despite lower sales
Johnson & Johnson products are displayed in Orlando, Fla. pany said. However, its other U.S. multinationals as with revenue of $70.8 bil-
Johnson & Johnson’s reported quarterly financial results, Tues- prescription drugs segment well. The total missed ana- lion to $71.5 billion. Analysts
day, Jan. 26, 2016. turned in the best perfor- lyst projections for 17.94 bil- were expecting $71.9 bil-
mance and was the only lion. lion in sales and earnings of
(AP Photo/John Raoux) segment with higher sales. “The quarter was pretty $6.37 per share.
The world’s biggest health solid,” said Edward Jones “We’re pleased with the
LINDA A. JOHNSON and multiple charges. The care product company analyst Ashtyn Evans, add- results,” CEO Alex Gorsky
AP Business Writer results pushed up shares of said on Tuesday that net ing that over the long term, told analysts during a con-
(AP) - Johnson & Johnson the Dow component more income was $3.2 billion, or profit will be driven more by ference call. “We’re opti-
posted a 28 percent jump than 3 percent. $1.15 per share, up from launches of new prescrip- mistic about the opportuni-
in fourth-quarter profit, J&J’s consumer business, $2.53 billion, or 89 cents tion drugs than medical ties in health care and the
beating Wall Street ex- hammered by an embar- per share, a year earlier. devices or consumer prod- strength of our business.”
pectations, as the sale of rassing stretch of dozens of Adjusted net income was ucts. For example, she said He noted J&J plans by 2019
part of its now-restructur- recalls dating to 2009, final- $4.04 billion, or $1.44 per recently approved Darza- to apply for approval of 10
ing medical devices busi- ly has nearly all its products share, which was 2 cents lex, for the blood cancer new products that each
ness offset the strong dollar back in stores, the com- better than Wall Street an- multiple myeloma, eventu- could generate $1 billion in
alysts expected, accord- ally could produce billions annual sales.
ing to Zacks Investment Re- in annual sales. Last week, Johnson & John-
search. Johnson & Johnson, based son said it plans to restruc-
J&J posted a $1.21 billion in New Brunswick, New ture its underperforming
gain, mainly for its Octo- Jersey, expects full-year medical devices business,
ber divestiture of its Cordis adjusted earnings, which which includes the reduc-
heart devices unit. Cordis excludes one-time items, tion of about 3,000 jobs
had accounted for about of $6.43 to $6.58 per share, over the next two years.
a quarter of device sales.
Revenue for the maker of
baby shampoo, prescrip-
tion medicines and medi-
cal devices fell 2.4 percent
to $17.81 billion, hurt by the
dollar that has weighed on
Weight Watchers stock gains as Oprah loses
NEW YORK (AP) — Weight loss company in October. 31 million Twitter followers.
Watchers stock is gaining Its stock is up more than 90 Weight Watchers has also
again, thanks to Oprah percent since then. Win- made changes to its plans
Winfrey’s weight loss. frey is a natural fit for the recently to better fit in with
The company’s shares company: Her struggle with Winfrey’s message of living
soared Tuesday after a weight was a frequent top- a healthy and happier life,
new commercial starring ic of her former talk show. and not just focusing on
Winfrey aired where she “I love bread!,” Winfrey weight loss.
says she has lost 26 pounds says in the new commer- Shares of New York-based
on Weight Watchers. Win- cial. “That’s the genius of Weight Watchers Interna-
frey said during an appear- this program. tional Inc. rose 21 percent
ance on “The Ellen DeGe- I lost 26 pounds and I have to $13.44 in afternoon trad-
neres Show” that she start- eaten bread every single ing. But they are still down
ed on the plan in August. day.” about 21 percent from a
Winfrey bought a 10 per- Winfrey posted the ad on- year ago.
cent stake in the weight- line Tuesday to her nearly
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