Medical giant Johnson & Johnson (JNJ) kicked off the industry’s Q3 earnings season on a strong note with a sales and earnings beat early Tuesday, though the stock was down 1% in morning trading on the stock market today. J&J’s earnings, excluding one-time items, rose 10% over the year-earlier quarter to $1.50 a share, beating analysts’ estimates by 5 cents. Sales climbed 5% to $18.47 billion, $90 million ahead of consensus. The company raised its
The drama continued for big biotech Gilead Sciences Tuesday, as Johnson & Johnson moved into its viral-disease turf on two fronts with an acquisition. Johnson & Johnson (JNJ) disclosed that it’s buying privately held Alios BioPharma for $1.75 billion in cash. In a press release, J&J touted Alios’ drug candidate for respiratory syncytial virus (RSV), a major cause of lung infection that has no current treatment. The drug, AL-8176, is
Medical giant Johnson & Johnson agreed to buy privately held biotech Alios BioPharma for $1.75 billion Tuesday, advancing its presence in viral diseases. Johnson & Johnson (JNJ) stock was up a fraction in morning trading on the stock market today. In a press release, J&J touted Alios’ drug candidate for respiratory syncytial virus (RSV), a major cause of lung infections that has no current treatment. The drug, AL-8176, is in midstage clinical