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Johnson & Johnson Earns $457M from Coronavirus Vaccine Sales

Johnson & Johnson covid-19 vaccine

Johnson & Johnson earned $457 million from coronavirus vaccine sales in the first quarter of 2022, according to a financial results statement released Tuesday.

The American pharmaceutical and consumer goods manufacturer reported $382 million in sales from vaccines outside the US.

In the US, it gained $75 million from COVID-19 vaccine sales during the January-March period.

The company earned $100 million from coronavirus vaccine sales during the first quarter of 2021, all of which came only from the US.

Due to a global supply surplus and demand uncertainty, Johnson & Johnson said it is suspending its COVID-19 vaccine sales guidance.

The company posted more than $5.1 billion in net earnings in the first quarter, down 17.7% from almost $6.2 billion during the same period last year.

“Our first quarter results demonstrate strong performance across the enterprise, despite macro-economic headwinds. I am incredibly proud of Johnson & Johnson’s 144,000 employees for their relentless passion and Credo-based commitment to delivering transformative healthcare solutions to patients and customers around the world,” said Joaquin Duato, Chief Executive Officer.

“Looking ahead, I remain confident in the future of Johnson & Johnson as we continue advancing our portfolio and innovative pipeline.”

Reported sales, however, increased 4.9% to more than $23.4 billion, from $22.3 billion, during that period.

Due to rising sales year-on-year, Johnson & Johnson's stock price was up 3.1% to $183.21 at 10.18 a.m. EDT on the New York Stock Exchange.

Source: AA

 

 

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