Overview
- Adjusted Q4 EPS came in at $2.46 on revenue of $24.56 billion, topping estimates on both profit and sales.
- J&J projected 2026 operational sales of $99.5 billion to $100.5 billion and adjusted EPS of $11.43 to $11.63, absorbing a drug-pricing deal that will cost hundreds of millions of dollars.
- Growth drugs outperformed as Darzalex jumped about 27% and Tremfya rose sharply, while Stelara tumbled 55% in the U.S. and 48% worldwide in the quarter after biosimilar entry.
- Shares slipped roughly 1%–2% in early trading despite the beat and raised outlook, reflecting a mixed market reaction after strong gains in 2025.
- Legal and strategic crosscurrents remain, with a $1.56 billion Maryland talc verdict that J&J plans to appeal, a special master recommending ovarian-cancer expert testimony be allowed in court, and a U.S. investment plan highlighted by a $2 billion biologics plant in North Carolina.