By Tess Stynes
Johnson & Johnson reported fourth-quarter sales slipped 0.6%
as growth in its domestic pharmaceutical revenue wasn't enough to
offset a drag on its international revenue from a stronger U.S.
dollar.
The health-care giant's shares were flat in recent premarket
trading as per-share earnings, excluding one-time charges, beat
analysts' expectations.
For 2015, the company forecast adjusted per-share earnings
between $6.12 and $6.27. Analysts polled by Thomson Reuters
recently expected per-share profit of $6.13.
The New Brunswick, N.J., company's sales have been propelled by
newer drugs--such as diabetes drug Invokana, blood-thinner Xarelto
and psoriasis treatment Stelara--as J&J strives to revive its
consumer and medical-devices businesses.
J&J's hepatitis C drug, Olysio, also had been contributing
to the growth but was expected to drop off as the result of growing
competition. In the latest period Olysio sales reached $256 million
in the U.S., above analysts expectations, but below the $671
million in the third quarter.
Write to Tess Stynes at tess.stynes@wsj.com
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