Johnson & Johnson (NYSE:JNJ) is set to announce its third quarter earnings on Oct. 15 before the market opens. Wall Street is expecting the pharmaceutical and healthcare giant to post earnings per share (EPS) of $2.21 and revenue of $22.16 billion.
But while J&J's numbers are in focus, recent headlines about its MedTech acquisitions and drug trial halts are stealing the spotlight.
MedTech Grows, Drug Trials Stumble
Johnson & Johnson recently completed its acquisition of V-Wave, adding a minimally invasive cardiovascular treatment to its MedTech portfolio. The Ventura Interatrial Shunt is expected to strengthen J&J's position in tackling heart failure, but the acquisition comes with a short-term cost. The company has warned that this move will dilute adjusted EPS by around 24 cents in 2024 and 6 cents in 2025, an update they'll likely address in Tuesday’s earnings report.
On the flip side, the company had to discontinue its Phase 3 SunRISe-2 trial, which was investigating a treatment for muscle-invasive bladder cancer. ...
