The pharmaceutical and medical device company posted quarterly revenue of $24.1 billion, marking an increase of nearly 10% compared to the same period last year and surpassing analysts’ estimates of $23.6 billion, News.Az reports, citing Reuters.
Adjusted earnings came in at $2.70 per share, also beating expectations of $2.66.
Sales of Stelara, which once generated more than $10 billion annually, dropped about 60% year-over-year to $656 million following the loss of patent protection last year and the arrival of biosimilar competition.
Shares of Johnson & Johnson, which have gained around 15% so far this year, were slightly lower in premarket trading.
Chief Financial Officer Joseph Wolk said many patients have shifted away from Stelara biosimilars toward alternative treatments such as Tremfya.
“We are seeing increased share in Tremfya and we anticipate we'll see something similar in the new oral offering,” Wolk said, referring to the company’s recently approved drug Icotyde, which received approval in March.
Tremfya generated $1.6 billion in quarterly sales, significantly exceeding analysts’ expectations of $1.2 billion. Meanwhile, Darzalex, a blood cancer treatment launched in 2015, brought in $4.0 billion in revenue, well above the forecast of $3.4 billion.
The company’s medical technology division reported quarterly sales of $8.6 billion, up 7.7% and in line with expectations.
Johnson & Johnson also raised its full-year 2026 revenue forecast, setting a new midpoint of about $100.8 billion, slightly above Wall Street estimates of $100.6 billion. It increased its adjusted earnings outlook to $11.55 per share at the midpoint, broadly matching analyst projections.
The company is among several major global drugmakers that have agreed to so-called most-favored-nation pricing arrangements with the administration of Donald Trump. Under these agreements, companies would reduce U.S. drug prices to levels seen in other developed countries in exchange for tariff relief.
However, Wolk expressed opposition to efforts to formalize these arrangements into law. Trump has called on Congress to codify the policy, but Johnson & Johnson argues that such a move could act as a form of price control.
“We're not a fan of codifying MFN,” Wolk said. “It's really kind of a back door to price controls, and we've seen what happens in countries with price controls — patients have less access to the most important medicines and innovation goes down.”
