Johnson & Johnson expects $2.5 billion in global sales from Covid vaccine this year

Johnson & Johnson said Wednesday it expects to sell $2.5 billion of its Covid-19 vaccine this year, even as concerns mount over the shot's effectiveness against the delta variant.

In releasing its second-quarter financial results, the company also reported earnings and revenue that beat Wall Street's expectations.

Here's how J&J did compared with what Wall Street expected, according to average estimates compiled by Refinitiv:

  • Adjusted EPS: $2.48 per share vs $2.27 expected.
  • Revenue: $23.31 billion vs $22.21 billion expected.

The company's share price was up nearly 1% in premarket trading following the report.

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J&J's pharmaceutical business, which developed the single-shot Covid vaccine, generated $12.59 billion in revenue, a 17.2% year-over-year increase.

The company's consumer unit, which makes products such as Neutrogena face wash and Listerine, generated $3.7 billion in revenue, up 13.3% from a year earlier. Its medical device unit generated $6.9 billion, a 62.7% increase. That unit was hit hard last year as the pandemic forced hospitals to postpone elective surgeries and Americans stayed home.

Global sales of the Covid vaccine in the quarter were $164 million.

This is a developing story. Please check back for updates.

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