J&J raises outlook as cancer drug sales offset Stelara drop

JOHNSON & JOHNSON reported first-quarter earnings that surpassed Wall Street expectations on Tuesday, bolstered by strong demand for its oncology and immunology treatments. The healthcare conglomerate also raised its full-year financial outlook, as the success of newer drugs helped mitigate the impact of biosimilar competition for its blockbuster autoimmune treatment, Stelara.

The company reported quarterly revenue of $24.1 billion, marking a nearly 10% increase from the previous year and exceeding analyst estimates of $23.6 billion. Adjusted earnings reached $2.70 per share, beating the consensus forecast of $2.66. While the company's shares have risen 15% this year, they saw a slight decline in premarket trading following the announcement.

Sales for the blood cancer therapy Darzalex reached $4.0 billion, significantly outperforming the $3.4 billion projected by analysts. The psoriasis treatment Tremfya also saw strong results, contributing $1.6 billion compared to expectations of $1.2 billion. These performances were critical as Stelara sales plummeted 60% to $656 million after losing patent protection.

Chief Financial Officer Joseph Wolk indicated that the company is successfully navigating the transition of patients from older drugs to newer alternatives.

\"We are seeing increased share in Tremfya and we anticipate we’ll see something similar in the new oral offering.\"

The medical technology segment also showed steady growth, with quarterly sales rising 7.7% to $8.6 billion. Consequently, the firm updated its 2026 revenue guidance to a midpoint of $100.8 billion, slightly above the market's expectation of $100.6 billion. The adjusted earnings outlook was also lifted to a midpoint of $11.55 per share.

In the United States, the company is navigating complex regulatory discussions regarding drug pricing. Although the firm has agreed to certain pricing deals with the current administration, it has expressed strong opposition to codifying these measures into law. Wolk cautioned that such policies could act as a mechanism for price controls.

\"It’s really kind of a back door to price controls and we’ve seen what happens in countries with price controls - patients have less access to the most important medicines and innovation goes down.\""}```of | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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