Johnson & Johnson's Strategic Forecast: Targets 5%-6% Operational Sales Growth For FY24

Johnson & Johnson JNJ expects operational sales growth in the range of 5%-6% for FY24.

The company forecasts adjusted operational earnings per share growth of 7.3% at the midpoint with a range of $10.55-$10.75.

The company said its 2024 guidance range reflects an approximate $0.15 dilutive impact to adjusted operational EPS associated with the previously announced acquisition of Laminar, Inc.

In its Innovative Medicine business, the company is continuing to focus on areas of high innovation and higher growth while maintaining its pipeline which is expected to deliver more than 20 novel therapies and more than 50 product expansions by 2030.

JNJ forecasts 5%-7% operational sales growth from 2025-2030 in its Innovative Medicine pipeline and portfolio.

In the MedTech business, the company expects to generate one-third of sales from new products in 2027.

The growth is going to come from strong demand for cancer treatments Darzalex and Carvykti, and blockbuster psoriasis drug Stelara, Reuters noted.

J&J Chief Financial Officer Joseph Wolk said the company, which is now focusing on its drugs and medical devices business, was "very well positioned" even with some Stelara biosimilars launching outside the U.S. in mid-to-second half of 2024, the Reuters report added.

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Price Target: JNJ shares are trading lower by 0.25% to $158.49 on the last check Tuesday.

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