Stockwatch: The Not-As-Bad-As-Expected Opera Of Johnson & Johnson’s Q2 Earnings
What Do J&J’s Bellwether Results Tell Us About Wider Pharma Sector In 2020?
With something for everyone in Johnson & Johnson’s second-quarter earnings report, a nudge upwards for full-year guidance could not disguise the jump down from January’s pre-pandemic expectations.
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Johnson & Johnson management said they expect medical device sales to make a quick recovery in the third and fourth quarter of 2020 after seeing a faster-than-expected reuptake of procedures during the second quarter.
Phase I/IIa trial is poised to start in July versus a prior target of September, with a Phase III start targeted for late September. J&J also reported 2.1% pharma sales growth, reflecting an impact from COVID-19.
Investors in pharmaceutical companies appreciate details such as sales force dynamics, price-volume relationships and channel-stocking effects. Their absence can make investors wary.