Johnson & Johnson briefed investors on 17 April on the impact of inflation costs this year, and in turn issued a moderate and somewhat conservative forecast for expected profits in 2023, which caused its shares to fall by more than 2%.
As it indicates in the information obtained by 'Reuters', from J&J also indicate that they expect a strong descent of the sales of it top medicine against the Crohn illness, once that it lose the protection of the American patent to finals of 2023.
As the French news agency has learned, the company is "responsibly optimistic" about 2023, as confirmed in a phone call with CFO Joseph Wolk, who admitted that inflation is one of the most difficult challenges the company faces.
The company posted total sales of $24.7 billion in the first quarter, but reported a net loss of $68 million due to a $6.9 billion charge related to a second bankruptcy filing by its LTL Management unit as it tries to settle more than 38,000 lawsuits alleging that its talc products cause cancer. The company remains in litigation as it tries to defend itself against these allegations.
The sales of Consumer Health increased 7,4%, until 3.850 million dollars, surpassing the estimates of 3.620 millions, promoted by the rises of prices to compensate the impact of the inflation.