 Johnson
& Johnson promises 2021 profit jump, vaccine data "soon"
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[January 26, 2021]
(Reuters) - Johnson & Johnson on Tuesday
forecast 2021 profit above Wall Street estimates and promised data from
its widely watched coronavirus vaccine trial soon, as the healthcare
conglomerate races to develop a potential single-dose vaccine for
COVID-19.
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 The company had previously signaled that it expected to deliver data
on the trial before the end of January, at a time when global hopes
of defeating the virus are riding on securing adequate supplies of
multiple vaccines.
Johnson & Johnson, which runs a large medical device business in
addition to its pharmaceuticals unit, forecast 2021 adjusted profit
of between $9.40 and $9.60 per share, compared with analysts'
estimates of $8.99 per share, according to IBES data from Refinitiv.
The company's fourth-quarter profit fell 2.7% to $14.71 billion. The
company reported that it had recorded litigation expenses of $2.9
billion in the fourth quarter.
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 J&J faces a litany of lawsuits
over its marketing of opioids, its pelvic meshes
and body powders.
The company's fourth-quarter sales rose to
$22.48 billion from $20.75 billion, helped by
higher demand for cancer drugs.
(Reporting by Manas Mishra in Bengaluru; Editing
by Anil D'Silva)
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