Johnson & Johnson: Q1 adjusted EPS up, trial stopped

(CercleFinance.com) - The US pharma group has reported Q1 2021 revenue of 22.
3 billion dollars, up 7.9%, with operational growth of 5.5% and adjusted operational growth of 6.0%.

Q1 2021 EPS reached 2.32 dollars, up 6.9%, while adjusted EPS was 2.59 dollars, up 12.6%.

The group raised its FY 2021 guidance, considering adjusted operating sales growth of 9.3% and adjusted operational EPS growth of 16.8%.

Its board of directors has decided on a 5% increase in the quarterly dividend from 1.01 dollar per share to 1.06 dollar per share.

In other news, Johnson & Johnson's Janssen Pharmaceutical Companies announced the discontinuation of regulatory submissions for a Phase III study (ACIS) evaluating the combination of Erleada (apalutamide) and Zytiga (abiraterone acetate) plus prednisone.

J&J says that this combination therapy, which is intended to treat certain prostate cancers, did not show significant benefit over Zytiga plus prednisone.

The share is down about 0.5% in pre-market trading on Tuesday.


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