Johnson & Johnson COVID-19 vaccine delivers $100M in sales

Single-shot vaccine was put on hold last week

Johnson & Johnson raked in $100 million in first-quarter sales from its single-shot COVID-19 vaccine that was put on hold last week by the U.S. Food and Drug Administration. 

The New Brunswick, New Jersey-based drugmaker did not provide an update on the state of the vaccine alongside its quarterly results, but is expected to do so later this week. 

Ticker Security Last Change Change %
JNJ JOHNSON & JOHNSON 169.63 +1.54 +0.92%

"Johnson & Johnson delivered a strong first quarter performance led by the above market growth of our Pharmaceutical business and continued recovery in Medical Devices," CEO Alex Gorsky said in a statement. 

Net earnings in the three months through March rose 6.9% year over year to $6.2 billion, or an adjusted $2.59 per diluted share. Revenue was $22.32 billion.

Wall Street analysts surveyed by Refinitiv were expecting adjusted earnings of $2.34 per share on revenue of $21.98 billion.

Pharmaceutical sales, which made up 55% of all revenue, increased 9.6% from a year ago to $12.2 billion. Stelara, a treatment for Crohn's disease and plaque psoriasis, saw sales climbed 18% to $2.15 billion. Sales of Cancer drug Darzalex jumped 46% to $1.37 billion.

Elsewhere, medical device sales rose 11% to $6.6 bullion while consumer health revenue fell 2.3% to $3.5 billion.

The strong results compelled the company's board of directors to raise the divided by 5 cents to $1.06 per share. 

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Looking ahead, Johnson & Johnson tweaked its full-year adjusted profit forecast to between $9.42 and $9.57 per share versus its prior forecast of $9.40 to $9.60 per share. 

Johnson & Johnson shares were up 3.37% this year through Monday compared with the S&P 500's 11% gain.