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Johnson & Johnson Q2 results beat The Street, medical device sales down a third

Johnson & Johnson (NYSE:JNJ) posted second-quarter results today that beat the consensus forecast on Wall Street — boosting its outlook for the year even as its medical device sales took a big hit from the COVID-19 pandemic.

The New Brunswick, N.J.–based medical device and pharmaceutical giant reported profits of $3.6 billion, or $1.36 per share, on sales of $18.3 billion for the three months ended June 30, 2020, for a bottom-line decline of –34.6% and a sales decline of –10.8% compared with Q4 2017.

Adjusted to exclude one-time items, earnings per share were $1.67, 19¢ ahead of The Street, where analysts were looking EPS of $1.48 on sales of $17.5 billion.

Most of J&J’s Q2 sales hit came from its medical device business, which saw a year-over-year sales decline of –33.9% as the COVID-19 pandemic caused a deferral in medical procedures. Consumer health was down –7.0%, while pharmaceuticals were up 2.1%.

Johnson & Johnson CEO Alex…

J&J accelerates development of its COVID-19 vaccine candidate

Johnson & Johnson (NYSE:JNJ) announced today that its Janssen Pharmaceutical subsidiary has moved up first-in-human clinical trials of its COVID-19 vaccine candidate to late July, versus the previously planned start in September.

“Based on the strength of the preclinical data we have seen so far and interactions with the regulatory authorities, we have been able to further accelerate the clinical development of our investigational SARS-CoV-2 vaccine, Ad26.COV2-S, recombinant,” said Dr. Paul Stoffels, J&J’s chief scientific officer.

“Simultaneously, we are continuing our efforts to build important global partnerships and invest in our vaccine production technology and manufacturing capabilities. Our goal is to ensure we can deliver a vaccine to the world and protect people everywhere from this pandemic,” Stoffels said.

Get the full story on our sister site Drug Discovery and Development.

J&J accelerates development of its COVID-19 vaccine candidate

Johnson & Johnson (NYSE:JNJ) announced today that its Janssen Pharmaceutical subsidiary has moved up first-in-human clinical trials of its COVID-19 vaccine candidate to late July, versus the previously planned start in September.

“Based on the strength of the preclinical data we have seen so far and interactions with the regulatory authorities, we have been able to further accelerate the clinical development of our investigational SARS-CoV-2 vaccine, Ad26.COV2-S, recombinant,” said Dr. Paul Stoffels, J&J’s chief scientific officer.

“Simultaneously, we are continuing our efforts to build important global partnerships and invest in our vaccine production technology and manufacturing capabilities. Our goal is to ensure we can deliver a vaccine to the world and protect people everywhere from this pandemic,” Stoffels said.

The randomized, double-blind, placebo-controlled Phase 1/2a study will take place in the U.S. and Belgium …

J&J pledges $10m to fight racism in America

BD CEO also expresses “frustration, anger and dismay over the racial inequality and injustice.”

Memorial to George Floyd in Minneapolis (Image from Boston Scientific)

Johnson & Johnson (NYSE:JNJ) this week pledged $10 million this week to fight racism and injustice in the U.S.

In a response to the deaths of George Floyd in Minneapolis, Breonna Taylor in Louisville, Ky., and Ahmaud Arbery near Brunswick, Ga., J&J CEO Alex Gorsky said the $10 million pledge will span the next three years. It will include extending the New Brunswick, N.J.-based company’s support of the National Museum of African American History and Culture and its initiatives, such as the “Talking About Race” program.

Gorsky’s statement was the latest from major medtech companies reacting to the Memorial Day death of George Floyd, an unarmed black man who died in Minneapolis police custody, a…