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J&J posts quarterly loss on US$13.6-billion tax charge [Business News Network (BNN) Energy & Resources (Canada)]

JOHNSON & JOHNSON (JNJ)  More Company Research Source: Business News Network
Last johnson & johnson earnings: 4/17 06:40 am Check Earnings Report
US:NYSE Investor Relations: jnj.com
PDF J&J posts quarterly loss on US$13.6-billion tax charge Johnson & Johnson ( JNJ.N ) reported a quarterly loss due to a US$13.6-billion charge related to the new U.S. tax law, but beat adjusted quarterly profit estimate on strong demand for new cancer drugs and gains from its Actelion acquisition. A number of U.S. companies with sizable international operations are booking huge charges related to the new tax law, which encourages companies to repatriate their offshore earnings. International operations accounted for nearly a half of J&J's total fourth-quarter sales of US$20.20 billion, which was up 11.5 per cent from a year earlier. Higher sales of cancer drugs Darzalex and Imbruvica, and psoriasis drug Tremfya helped drive a 17.6-per-cent rise in pharmaceuticals sales to US$9.68 billion, the company said. High-margin treatments from Actelion, which was acquired by J&J for US$30 billion in 2016, accounted for about a quarter of the pharmaceutical unit's sales growth. Sales at J&J's cons [Read more]

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