Johnson & Johnson (NYSE:JNJ) baby powder product. (Photo: Reuters)
Johnson & Johnson (NYSE:JNJ) reported fourth-quarter sales fell 0.6 percent, as slower growth in domestic pharmaceutical revenue wasn’t enough to counter weak international revenue.
The health-care giant’s shares were down nearly 3 percent to in recent pre-market trading. However, per-share earnings — excluding one-time charges — actually beat analysts’ expectations. Analysts polled by Thomson Reuters recently expected per-share profit of $6.13.
For 2015, the company forecast adjusted per-share earnings between $6.12 and $6.27.
The New Brunswick, N.J., company’s sales have been fueled by new or newer drugs, including the diabetes drug Invokana, the blood-thinner Xarelto and the psoriasis treatment Stelara. With the revenue, Johnson & Johnson is attempting to revive its consumer and medical-devices businesses.
J&J’s hepatitis C drug, Olysio, also had been contributing to the growth. However, it was expected to tamper down due to growing competition. Olysio sales reached $256 million in the U.S. during last quarter, which was far above analysts expectations, yet still below the $671 million in the 3Q.
