Sales of Johnson & Johnson Covid-19 vaccine reach $100m

Johnson & Johnson posted a jump in first-quarter revenues, including $100m from its single-shot Covid-19 vaccine.

Group sales in the three months to March end were $22.3bn, a 7.9% improvement on the same period a year previously. Net earnings rose 6.9%, to $6.2bn, while earnings per share also rose 6.9%, to $2.32.

Adjusted EPS came in above analyst forecasts at $2.59, a 12.6% increase.

Sales of J&J’s single-shot vaccine, which is not being sold for profit, came in at $100m. Rollout of the jab has been paused while US and European regulators investigate reports of extremely rare but serious blood clots.

Across individual segments, the largest – pharmaceuticals – reported a 9.6% hike in sales to $12.2bn, while medical devices rose 10.9% to $6.6bn. However, consumer health eased 2.3% to $3.5bn. Johnson & Johnson attributed the fall to tough comparatives, after it benefited from stockpiling at the start of the pandemic a year previously.

Alex Gorsky, chief executive, said it had been a “strong” quarter led by the above-market growth in pharmaceuticals and the ongoing recovery in medical devices.

He continued: “The ability to deliver these results while simultaneously advancing our robust pipeline of life-enhancing medicines, products and solutions during these times is testament to the strength and resilience of our business.”