Annual Profit Forecast Raised By J&J On Medical Devices, Cancer Drugs Strength J&J’s top-selling drug, Stelara, which is going off patent, is expected to face competition from cheaper copies in 2025, and the company has been leaning on newer drugs such as cancer therapy Carvykti to replace a potential loss in sales.

Johnson & Johnson raised its 2023 profit forecast on Thursday, banking on the strength in its medical devices business and demand for its cancer drugs such as Darzalex.
 
The company recently spun off its consumer health unit to focus on drugs and medical devices.
 
J&J’s top-selling drug, Stelara, which is going off patent, is expected to face competition from cheaper copies in 2025, and the company has been leaning on newer drugs such as cancer therapy Carvykti to replace a potential loss in sales.

The company recently signed settlements to delay the launch of biosimilar versions of Stelara.

J&J said it now expects to earn between USD 10.70 and USD 10.80 per share on an adjusted basis for 2023, compared with its prior forecast of USD 10.60 and USD 10.70.
 
Analysts were expecting a profit of USD 10.65 per share, according to Refinitiv data.

The drugmaker also posted better-than-expected second-quarter earnings of USD 2.80 per share, compared with analysts’ expectations of USD 2.62.

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