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Medtronic Plc logo is seen displayed in this illustration taken, April 10, 2023. Medtronic, which makes pacemakers, catheters and other tools used in heart and gastrointestinal surgeries, joins rivals, including Abbott Laboratories (ABT.N), Stryker (SYK.N) and Boston Scientific (BSX.N), on benefiting from a rise in non-urgent surgeries. CEO Geoff Martha said trends pointed to a recovery in surgical volumes as some procedures returned to stronger than pre-pandemic levels. Whereas, revenue from its medical surgical unit rose 5.5% to $2.04 billion. Medtronic also said that it was expecting to split its patient monitoring and respiratory interventions businesses in the first half of fiscal 2025.
Persons: Dado Ruvic, Stryker, Geoff Martha, It's, Martha, Edward Jones, John Boylan, Medtronic, Bhanvi Satija, Christy Santhosh, Shweta Agarwal Organizations: REUTERS, Abbott, Abbott Laboratories, Boston, Thomson Locations: Dublin, Bengaluru
Companies Johnson & Johnson FollowApril 18 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday cautioned investors over the lingering impact of inflation-driven costs this year as the healthcare conglomerate issued a conservative full-year profit forecast, and its shares fell more than 2%. J&J also said it expected a steep decline in sales of its blockbuster Crohn's disease drug Stelara once it loses U.S. patent protection in late 2023. J&J, the first large drugmaker and medical device manufacturer to report earnings, raised the midpoint of its full-year profit forecast by 10 cents despite beating first-quarter estimates by 18 cents. A recovery in medical procedures after being weighed down by hospital staffing shortages helped the medical device unit post sales of $7.48 billion, topping analysts' estimates of $7.31 billion. Consumer health sales rose 7.4% to $3.85 billion, surpassing estimates of $3.62 billion, powered by price hikes to offset the impact from inflation.
But COVID-19 vaccine sales exceeded diminished expectations and demand for cancer drug Darzalex helped drive the fourth-quarter profit beat. The company reported $689 million in quarterly COVID-19 vaccine sales from outside the United States. J&J said it expects U.S. sales of Stelara to be flat to lower in 2023 due to competition from less expensive biosimilars in certain regions. It forecast adjusted 2023 earnings of $10.45 to $10.65 per share, above analysts' estimates of $10.35. Excluding items, J&J earned $2.35 per share for the quarter, topping analysts' estimates by 12 cents, according to IBES data from Refinitiv.
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J&J forecasts 2023 profit above expectations on pharma strength
  + stars: | 2023-01-24 | by ( ) www.reuters.com   time to read: +2 min
Shares of the drugmaker, however, fell 1% to $166.12 in premarket trading as fourth-quarter sales missed analysts' estimates due to lower demand for its medical devices. J&J expects to earn between $10.45 and $10.65 per share on an adjusted basis for 2023, above analysts' estimates of $10.35 per share profit at the midpoint. The higher 2023 profit forecast also reflects better-than-expected cost controls by J&J, Edward Jones analyst John Boylan said. Darzalex sales were $2.08 billion, while analysts were expecting $2.02 billion, according to Refinitiv. Excluding items, J&J earned $2.35 per share, above analysts' average estimates of $2.23 per share, according to IBES data from Refinitiv.
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Jan 5 (Reuters) - Walgreens Boots Alliance (WBA.O) said on Thursday it will not strike new deals in the short term after a spate of acquisitions in recent years, as it focuses on ramping up sales at its newer healthcare business. "We're not considering any M&A type activity in the short term. We need to focus on integration activities," Chief Financial Officer James Kehoe said in a post-earnings conference call. Walgreens said same-store pharmacy sales rose 4.8% in the reported quarter from a year earlier, but below Evercore ISI's estimates of 5% growth. Net loss attributable to Walgreens was $3.72 billion, for the quarter ended Nov. 30, compared with a profit of $3.58 billion, a year earlier.
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