J&J Surpasses Q1 Profit Forecasts Despite Stelara Sales Dip

Johnson & Johnson reported stronger-than-expected first-quarter results and nudged up its full-year forecast. The company delivered higher revenue and raised its earnings outlook even as Stelara sales declined sharply.

Quarterly financial results

Revenue for the quarter reached $24.1 billion. That beat the $23.6 billion consensus estimate and marked nearly a 10% year‑over‑year increase.

Adjusted earnings were $2.70 per share. That topped the $2.66 per‑share estimate.

Updated full‑year guidance

J&J raised its 2026 revenue midpoint to about $100.8 billion. That sits slightly above Wall Street expectations.

The company also lifted its adjusted earnings outlook to about $11.55 per share at the midpoint.

Product performance

Darzalex benefited from strong demand. Quarterly sales for the blood cancer therapy totaled $4.0 billion, beating the $3.4 billion forecast.

Tremfya also outperformed. The psoriasis and inflammatory bowel disease drug generated $1.6 billion, ahead of the $1.2 billion estimate.

Stelara and market shifts

Stelara sales plunged about 60% to $656 million. The decline followed loss of patent protection and biosimilar competition.

J&J said many patients migrated to other treatments, helping Tremfya gain share. The company also noted a new oral drug, Icotyde, was approved in March.

Business segments and regional matters

The medical technology unit saw quarterly sales rise 7.7% to $8.6 billion. That result was in line with analyst expectations.

J&J warned of additional rounds of China’s volume‑based procurement this year. The company expects a greater impact in the second half.

Market reaction and analyst commentary

Shares have risen about 15% year to date. They were slightly lower in volatile premarket trading after the results.

Analysts highlighted the firm’s transition beyond Stelara. One major bank called J&J a cleaner name with potential for sustained top‑tier growth.

Policy issues and company stance

J&J is among drugmakers that agreed to most‑favored‑nation pricing deals with the Trump administration. The pact links U.S. prices to those in other developed nations in exchange for tariff relief.

CFO Joseph Wolk said the company opposes codifying the deals into law. He warned that price controls could reduce access and hurt innovation.

J&J surpassed first‑quarter profit forecasts despite a dip in Stelara sales. The company said newer products and strong core brands should drive further momentum through the year.