Bio-medical investors woke up to some exciting news this morning as Reuters reports that:
Johnson & Johnson reported a higher-than-expected quarterly profit and raised its full-year forecast as the company gained from strong sales of its new cancer drugs. Shares of J&J, part of the Dow Jones Industrial Average, were up 1.3 percent in premarket trading on Tuesday.
The jack-of-all-trades company has pushed itself up and made itself a tasty target for traders of all sorts.
However, this news makes J&J far more than just a day trader’s trade. In fact, the company has positioned itself to make some serious gains in the future. Marketwatch reports that according to Chief Executive Alex Gorsky :
The company had a “strong line-up of innovative products expected to launch or file over the next five years,”
In the world of big pharma where you are only as good as your next drug, this is promising news. By having a plethora of marquee products spread over five years the company can mitigate its risks of being denied approval all at once and spread the profits over the coming years.
As a whole, company is on the rise, with Marketwatch saying that “shares have surged over 5.4% in the last three months.” This means this earnings report is not a one off fluke for Johnson & Johnson, but that it is riding a solid trend thanks to its strong plans for the future. Investors that are interested in bio-med or big pharma investments should give the stock a look to see if it is the right pick for their portfolios.
To read Reuters’ article on J&J’s earnings, click here.
To read Marketwatch’s article on J&J’s blockbuster drug strategy, click here.
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