Johnson & Johnson tops estimates, raises forecast on strong drug sales
Tremfya sales jumped 72.5% to $2 billion as Johnson & Johnson topped estimates and lifted its 2026 outlook. Device weakness and aging drugs still shadow the quarter.
Johnson & Johnson raised its full-year forecast after second-quarter sales climbed to $25.31 billion, powered by faster growth in its medicines business and helped by demand for Tremfya and Darzalex. Adjusted earnings came in at $2.90 a share, above Wall Street expectations, and it now sees midpoint 2026 sales of about $101.1 billion with adjusted earnings of $11.68 a share.
The pharmaceutical unit generated $16.38 billion in quarterly sales. Tremfya, which was approved to inhibit the progression of structural joint damage in adults with active psoriatic arthritis, delivered $2 billion in sales, up 72.5% from a year earlier. Darzalex brought in $4.2 billion, roughly in line with expectations, as J&J works to offset the revenue loss after Stelara lost patent protection and older products such as Remicade continue to face pressure.
The medical-technology business produced $8.93 billion in sales and came in slightly below analyst estimates. Abiomed sales fell 2% from a year earlier, reversing 14% growth in the first quarter after a U.K. study raised concerns about Impella heart pumps during certain high-risk procedures. Chief financial officer Joseph Wolk said the company expects that franchise to return to growth as more data become available. “We have a big data set coming out probably in the first half of next year that should allay any fears,” he said.
Wolk said the company has 28 platforms generating at least $1 billion in annual revenue. “When you have 28 platforms that generate at least $1 billion in revenue on an annual basis, we're not dependent on one asset,” he said.
J&J is on track to exceed $100 billion in annual revenue for the first time in its 140-year history, and its quarterly free cash flow reached about $8.7 billion. Recent approvals and pipeline programs include CAPLYTA for relapse prevention in schizophrenia, the Dual Energy THERMOCOOL SMARTTOUCH SF platform, RYBREVANT FASPRO in advanced head and neck cancer, TALVEY plus DARZALEX FASPRO in earlier-line relapsed or refractory multiple myeloma, and OTTAVA in upper abdominal procedures. The company scheduled its second-quarter earnings call for 8:30 a.m. ET on July 15.
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