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By Patrick Wingrove and Bhanvi Satija
(Reuters) -Johnson & Johnson, fresh off a $14.6 billion deal to buy neurological drugmaker Intra-Cellular, reported fourth-quarter sales and profit above Wall Street estimates on Wednesday, driven by strong sales of its cancer treatments.
The New Jersey-based drugmaker also said it expects 2025 sales of between $90.9 billion and $91.7 billion and to earn between $10.75 and $10.95 per share on an adjusted basis. Analysts were expecting sales of $90.98 billion and a profit of $10.56 per share for 2025, according to data compiled by LSEG.
J&J’s fourth-quarter sales stood at $22.52 billion, up 5.3% from a year ago and above analysts’ expectations of $22.42 billion, according to LSEG data.
On an adjusted basis, the company earned $2.04 per share in the quarter – which includes a 22 cents charge related to its acquisition of medical device-maker V-Wave – nearly 11% lower than the previous year but above analysts’ estimates of $2.01 per share.
Quarterly sales of J&J’s cancer drugs rose 19% worldwide, driven by more than $3 billion for multiple myeloma treatment Darzalex, which was up 20.9% from a year ago.
“Darzalex continues to be a pillar brand with respect to performance,” said J&J Chief Financial Officer Joe Wolk in an interview, noting that sales from Shockwave Medical also helped drive growth.
J&J has been on an acquisition spree to boost its drugs and device businesses after spinning off its consumer unit in 2023. Last week, it announced a $14.6 billion deal for Intra-Cellular – its biggest deal in two years – to boost its portfolio of psychiatric drugs.
Last year, J&J bought heart device maker Shockwave Medical for $13.1 billion. Shockwave generated $258 million in sales for the quarter and $564 million for the year, according to J&J.
J&J’s innovative medicine unit brought in fourth-quarter sales of $14.33 billion while its medtech unit generated $8.19 billion, up 4.4% and 6.7% respectively compared to a year ago.
Sales of J&J’s blockbuster psoriasis treatment Stelara fell 14.7% to $2.35 billion in the fourth quarter. Analysts were expecting sales of $2.25 billion, according to LSEG data.
Close copies of Stelara launched in Europe, Canada and a few other markets last year. Several Stelara biosimilars are expected to launch in the U.S. this year.
For the full year, Stelara brought in revenue of $10.36 billion, making up more than 18% of J&J’s total drug sales of $56.96 billion for 2024. Analysts were expecting sales of $10.59 billion for Darzalex.