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Stock impact report

J&J beats Wall Street quarterly sales and profit estimates on cancer drug sales [Yahoo! Finance Canada]

Legend Biotech Corporation - American Depositary Shares (LEGN) 
J&J's quarterly sales stood at $21.89 billion, up 2.4% from a year ago and above analysts' expectations of $21.56 billion, according to LSEG data. On an adjusted basis, the company earned $2.77 per share in the quarter, 2.2% higher than the previous year and above analysts' estimates of $2.59 per share. Quarterly sales for the company's innovative medicines unit rose 2.3% to $13.87 billion, beating analyst expectations of $13.43 billion, while quarterly medtech revenue stood at $8.02 billion, up 2.5% on the previous year but below Wall Street estimates of $8.17 billion. J&J Chief Financial Officer Joe Wolk said in an interview that the company still expected, as indicated in its January guidance, that its medtech business would perform better in the second half of the year. Innovative medicine revenue was buttressed by a 20% increase in Darzalex sales on the previous year. Darzalex, a blood cancer therapy launched in 2015, brought in first-quarter sales of $3.24 billion, comp Show less Read more
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