J&J quarterly earnings beat Wall Street estimates on strength of medicines unit
JNJ•J&J beats second-quarter sales and profit estimates
July 15 (Reuters) - Johnson & Johnson beat Wall Street estimates for second-quarter sales and profit on Wednesday, as strong demand for immunology drug Tremfya and cancer blockbuster Darzalex helped it offset the erosion from older products.
Shares of the company fell 1.5% in premarket trading as sales at J&J's medical technology unit trailed expectations, hurt by a drop in demand for its Impella heart pumps, acquired through its 2022 buyout of Abiomed.
CFO Joseph Wolk said in an interview that Abiomed revenue took a hit in the quarter following the release of a U.K. study that raised questions about the use of Impella pumps during certain high-risk coronary procedures.
Abiomed sales in the quarter fell 2% from a year earlier, compared with 14% growth in the first quarter.
Wolk said J&J expects the franchise to return to growth, particularly as the company releases more data showing the utility of the pumps.




