JPMorgan Sees $1 Billion In Lost J&J Sales On Pfizer Biosimilar -- Market Talk
October 17 2016 - 6:36PM
Dow Jones News
18:06 ET - Johnson & Johnson (JNJ) vows to fight in the
courts and in negotiations with health insurers after Pfizer (PFE)
announces it will begin selling a biosimilar version of Remicade,
but JPMorgan still predicts JNJ will lose $1B in sales next year,
about 20 cents a share. Remicade is one of JNJ's top-selling
products. PFE will start selling its Inflectra biosimilar in late
November. In a statement, JNJ threatens to defend its
intellectual-property rights and compete in contract talks with
payers. JPMorgan says JNJ should offset the lost sales due to
growing sales from newer drugs like Darzalex, Imbruvica and
Stelara. (jonathan.rockoff@wsj.com, @jonathanrockoff)
(END) Dow Jones Newswires
October 17, 2016 18:21 ET (22:21 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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