Tuesday 20 April 2021 1:05 pm

Johnson & Johnson posts $100m in Covid19 vaccine sales as profit beats expectations

More than $100m in sales from its Covid19 vaccine helped pharmaceutical giant Johnson & Johnson (J&J) beat revenues and profit expectations today.

J&J, which earlier said its Covid vaccine will be available on a not-for-profit basis until the end of the global pandemic, also hiked its dividend from $1.01 to $1.06 per share.

The US rollout of the vaccine is currently being paused in the US over fears it has been linked to blood clottign in very rare cases.

Read more: US pauses Johnson & Johnson Covid vaccine after links to blood clot deaths

Net profit for the quarter rose nearly seven per cent to $6.2bn, or $2.32 per share.

Sales rose 7.9 per cent to $22.32bn, beating analyst estimates of $21.98bn.

Johnson & Johnson now expects full-year adjusted profit of $9.42 to $9.57 per share, compared with its prior forecast of $9.40 to $9.60 per share, after sales in its pharmaceuticals business helped boost overall profit.

Read more: Blood clot risk from Covid infection ‘eight times higher’ than from Astrazeneca vaccine