Pharma Stock Roundup: Beat & Raise Quarter From J&J, Allergan Hit By Restasis Ruling
Zacks Investment Research | Oct 20, 2017 08:47AM ET
Johnson & Johnson (NYSE:JNJ) kicked off third quarter earnings season for the pharmaceutical sector on a strong note with the company beating on both earnings and revenues. While focus remained on J&J’s strong earnings results, companies like Allergan (NYSE:AGN) were also in the news regarding patent litigation.
Recap of the Week’s Most Important Stories
J&J Q3 Results Impress, Raises Outlook: J&J’s Q3 earnings results were strong with the company beating on both earnings and revenues. All three segments (Consumer, Medical Devices and Pharmaceuticals) did well with oncology recording robust growth. Results included contribution from pulmonary hypertension products which became a part of the company’s portfolio following its acquisition of Actelion. Based on solid third quarter results, J&J raised its outlook for the year as well (Read more: Impax Laboratories and Amneal Pharmaceuticals Agree to Merge ).
Performance
Large Cap Pharmaceuticals Industry 5YR % Return
What's Next in the Pharma World?
Watch out for earnings results from companies like Novartis, Eli Lilly (NYSE:LLY) and Bristol-Myers among others in the coming week.
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