2024-04-18 07:28:39 ET
Summary
- On April 16, Johnson & Johnson released financial results for the first three months of 2024, which were within my expectations.
- Tecvayli sales were $133 million in the first quarter of 2024, up 111% year over year.
- Despite increased competition in the global autoimmune disease therapeutics market, the sales growth rate of most of its blockbusters has pleasantly surprised me.
- As a result, I am upgrading Johnson & Johnson's rating from 'Buy' to 'Strong Buy'.
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Johnson & Johnson: Buy This Bargain Before It's Gone