J&J 3rd qtr results beat analyst expectations thanks to strong pharma sales

18 October 2016

US healthcare giant Johnson & Johnson (NYSE: JNJ) reported sales of $17.8 billion for the third quarter of 2016, a 4.2% increase compared to the same period last year.

The company also announced adjusted earnings per share of $1.68 for the third quarter of 2016. Both figures were ahead of analyst estimates of $17.7 billion in revenues and $1.66 EPS.

However, shares in the company fell by as much as 2.7% to a low of $115 on news that a cheaper version of its blockbuster arthritis drug Remicade is to be introduced in the USA.

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