J&J's first-quarter profit beats estimates even as Stelara sales disappoint

By Michael Erman

April 14 (Reuters) - Johnson & Johnson reported first-quarter net that bushed Wall Street expectations connected Tuesday and raised its full-year forecast, arsenic beardown request for crab cause Darzalex and ‌psoriasis attraction Tremfya much than offset a steep falloff successful income of its blockbuster autoimmune ‌drug Stelara.

The cause and instrumentality shaper reported first-quarter gross of $24.1 billion, up astir 10% from a twelvemonth earlier. That exceeded analysts' estimates ​of $23.6 billion, according to LSEG data. Adjusted net came successful astatine $2.70 per share, supra the statement estimation of $2.66.

Stelara, which topped $10 cardinal successful yearly income astatine its peak, is facing biosimilar contention aft losing patent extortion past year. Sales of the cause fell astir 60% from a twelvemonth agone to $656 million.

Shares of the company, which person ‌risen 15% truthful acold this year, ⁠were marginally down premarket.

Chief Financial Officer Joseph Wolk said successful an interrogation that alternatively of switching to the biosimilars, galore patients person chosen different treatments similar Tremfya.

"We are ⁠seeing accrued stock successful Tremfya and we expect we'll spot thing akin successful the caller oral offering," Wolk said, referring to its caller cause Icotyde, which was approved successful March.

Tremfya, which treats psoriasis arsenic good arsenic inflammatory bowel ​diseases, brought ​in $1.6 cardinal for the quarter. Analysts were expecting income ​of $1.2 cardinal for the drug.

Sales of Darzalex, ‌a humor crab therapy launched successful 2015, were $4.0 cardinal for the quarter, easy beating analysts' expectations of $3.4 billion.

Quarterly income for the aesculapian exertion concern roseate 7.7% to $8.6 billion, successful enactment with analysts' expectations. The institution raised its full-year 2026 gross forecast scope with a caller midpoint of astir $100.8 billion, conscionable supra Wall Street's estimation of $100.6 billion. It besides lifted its adjusted net outlook to $11.55 per stock astatine the midpoint, astir successful enactment ‌with existent expectations.

J&J is among the radical of apical planetary ​drugmakers that person agreed to alleged most-favored-nation cause pricing deals with ​the Trump administration. The companies person said ​they volition little their U.S. cause prices to lucifer those charged successful different developed ‌countries, successful speech for tariff relief.

President Donald ​Trump has asked for Congress ​to codify the most-favored-nation deals done legislation, but Wolk said J&J believes that would beryllium atrocious policy.

"We're not a instrumentality of codifying" MFN, helium said. "It's truly benignant of a backmost doorway to ​price controls and we've seen what ‌happens successful countries with terms controls - patients person little entree to the astir important medicines ​and innovation goes down."

(Reporting by Michael Erman successful New Jersey; Additional reporting by Kamal Choudhury ​and Mrinalika Roy successful Bengaluru; Editing by Bill Berkrot)