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Johnson and Johnson With Boosted First-Quarter Earnings

Johnson and Johnson reported sales and earnings that beat estimates today due to the strength of their pharmaceutical business. Even though the sales at its consumer division fell 3%, their pharmaceutical sales went up just about 11% during the 1st quarter, comparing to the same time previous year. It was the sole reason that J&J was able to have a 3.5% revenue gain.

The company no longer has exclusivity on its gastrointestinal drug Aciphex and Concerta, but is able to have strong sales for Olysio/Sovriad, which is used to treat Hepatitis C and Zytiga, used for treating prostate cancer. As of now, J&J is expecting profits of around $5.90/share, up from previous $5.75.