Johnson & Johnson expects to sell its 2021 revenue shares and forecasts that it would sell $2.5 billion of its Covid-19 vaccine this year, even after concerns being rose over the shot’s effectiveness against the delta variant.
In announcing its second-quarter financial results, the company’s earnings expect to beat Wall Street. Also, in comparison with Pfizer and Moderna, there is a widening gap in the global vaccine races. While both the companies – Pfizer and Moderna estimate to have $26 billion and $19.2 billion in annual sales of their vaccines, respectively.
Johnson & Johnson is set to produce 500 million to 600 million doses of the vaccine this year, said Chief Financial Officer Joseph Wolk on Wednesday.
Sales at the company’s medical device unit rose $62.7% to $6.98 billion, boosting its second-quarter numbers. J$J raised its earnings and now expects a full year profit of $93.8 billion to $94.6 billion including contribution from the vaccine.
Here are the expected estimates for the second quarter:
- Adjusted EPS: $2.48 per share vs $2.27 estimated.
- Revenue: $23.31 billion vs $22.21 billion estimated.
Shares of the company increased marginally to $169.97 before the opening bell.