J&J sales soar on hepatitis treatment
Johnson & Johnson reported higher-than-expected quarterly results on sizzling sales of its new Olysio treatment for hepatitis C, but company officials cautioned the pill will lose steam later this year as newer rivals come to market.
Global company sales jumped 9.1pc in the second quarter to $19.5bn, beating Wall Street expectations of $18.99bn.
But while overall pharmaceutical sales soared, helped also by treatments for blood clots and prostate cancer, the company's medical devices and consumer products posted weak sales gains.
Olysio, which US regulators approved in November, chalked up sales of $831m for the second quarter and $1.19bn for the year to date.
Many doctors use the pill with Gilead Sciences's Sovaldi, which was approved in December to treat the hepatitis C liver virus and has achieved even higher sales than Olysio. It will be on sale later this year.