(New York) American pharmaceutical giant Johnson & Johnson (J & J) confirmed its forecasts for the current fiscal year on Tuesday, after experiencing a fourth quarter of 2023 in line with market expectations.
The group therefore continues to expect growth of 5% to 6% in its organic turnover for 2024, which would bring it to a range of $88.2 to $89 billion, it said in a press release. .
Its net profit per share excluding exceptional items – a benchmark for the markets – should be between $10.55 and $10.75 for the year, an increase from 6.4% to 8.4%.
“The results for the 2023 financial year reflect the dynamism and competitiveness of our activities and our relentless attention to doing what is necessary for patients,” commented Joaquin Duato, boss of J & J, quoted in the press release.
“We entered 2024 in a strong position and I am confident in our ability to lead the next wave of healthcare innovations,” he continued.
In the fourth quarter of 2023, the group recorded a 7.3% increase in revenue to $21.39 billion while its net profit jumped 28% to $4.13 billion.
Reported per share and excluding exceptional items, the latter comes to $2.29 and barely exceeds the consensus of analysts who expected $2.28.
Over the whole year, turnover increased by 6.5% to 85.16 billion dollars and net profit fell by 18.6% to 13.33 billion.
Notably, J&J reported a 12.4% jump in global organic revenue in the MedTech segment, benefiting in part from the acquisition of US medical equipment supplier Abiomed which generated 4.7% of the business. .
It explained in October, when publishing its third quarter results, that it had pocketed a one-off gain of around $21 billion over this period as part of the separation of its consumer health division.
Johnson & Johnson finalized in July the split of this division called Kenvue, which includes consumer products for hygiene, beauty and non-prescription medicines.
In electronic trading before the opening of the New York Stock Exchange, J & J shares fell 0.29%.