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J&J raises guidance, hits all-time high

April 20, 2016 1:00 AM UTC

Johnson & Johnson (NYSE:JNJ) gained $1.75 to $112.68 on Tuesday, touching an all-time intraday high of $113.95, after it reported 1Q16 earnings and raised its 2016 sales guidance to $71.2-$71.9 billion from $70.8-$71.5 billion. The company also raised its full-year EPS to $6.53-$6.68 from $6.43 to $6.58.

The company said growth in areas such as immunology and oncology offset an ongoing decline in infectious disease drug sales, mainly due to competition among HCV treatments. Worldwide pharmaceutical sales were up 5.9% to $8.2 billion. U.S. pharma sales grew 12.9% to $4.9 billion. Despite operational growth, international pharma sales fell 3.4% to $3.2 billion, which the company attributed to negative currency effects. ...