J&J Warns That Inflation & China’s Covid Outbreak May Hit 2023 Figures – $JNJ $DIA $INM

By John F. Heerdink, Jr.

Reportedly, Dow 30 component Johnson & Johnson (JNJ) warned that the impact of high inflation and China’s major COVID-19 outbreak may creep into 2023 impacting sales in the first half of the year at its medical devices segment. J&J forecast 2023 sales of $96.9 billion to $97.9 billion, putting the midpoint of the range below market estimates. The healthcare giant forecast adjusted 2023 earnings of $10.45 to $10.65 per share, above analysts’ estimates of $10.35.

Sales of some key treatments, such as Crohn’s disease drug Stelara, missed analyst estimates. But COVID-19 vaccine sales exceeded diminished expectations and demand for cancer drug Darzalex helped drive the fourth-quarter profit figures. The company reported $689 million in quarterly COVID-19 vaccine sales from outside the United States. Pharmaceutical sales of $13.16 billion for the fourth quarter slightly exceeded estimates of $13.14 billion, helped by $2.08 billion in Darzalex sales, beating analysts expectation of $2.02 billion for the drug.

J&J also recorded $821 million in COVID-19 vaccine-related costs, which were related to changes in its research program and manufacturing capacity. Excluding items, J&J earned $2.35 per share for the quarter, exceeding analysts’ estimates by 12 cents.

Dow 30 component Johnson & Johnson (JNJ) is a worldwide healthcare-focused company that embraces research and science so that it can provide customers with innovative ideas, products, and services. To learn more about Johnson & Johnson (JNJ) and to continue to track its progress visit the Vista Partners Johnson & Johnson Coverage Page.

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DID YOU KNOW?

InMed Pharmaceuticals (NASDAQ: INM) is a global leader in the research, development and manufacturing of rare cannabinoids, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. They also have significant know-how in developing proprietary manufacturing approaches to produce cannabinoids for various market sectors.

PROGRESS REPORT: InMed Pharmaceuticals Provides Business Update & Milestones

On January 10, InMed Pharmaceuticals Inc. (Nasdaq: INM) issued a press release ,which outlined their key accomplishments from 2022 and provided business update and catalysts for 2023 including the following interesting milestones for 2023:

Complete Phase 2 clinical trial enrollment in Epidermolysis Bullosa in 1Q 2023
Progress preclinical research in glaucoma in preparation for human trials
Advance research using rare cannabinoids in treating neurodegenerative diseases such as Alzheimer’s, Huntington’s and Parkinson’s

“Over the course of 2022, we strengthened our position as a leader in rare cannabinoid R&D, creating a unique offering as the only company that has the breadth and depth in cannabinoid drug research, development and significant manufacturing know-how. Despite the many economic pressures affecting businesses on a global scale, including challenging capital markets, particularly in biotech, InMed was able to advance its programs and achieve a number of key milestones. As we move forward into 2023, we are very encouraged by the strength of our pharmaceutical programs, with several material milestones anticipated in the coming quarters,” stated Eric A. Adams, InMed President and CEO.

REVIEWING InMed’s 2022 ACCOMPLISHMENTS

REVIEW The balance of the report by clicking here.

(Read Original Story: J&J expects inflation, China COVID hit to carry into 2023 in Reuters )