Johnson & Johnson has forecast 2019 sales targets that fall short of Wall Street's estimates. The company says it is facing pressure from competition on its older drugs and expects generic competition on such drugs as Zytiga, a prostate cancer treatment.
The company said it expects full-year sales in the range of $80.4 billion to $81.2 billion, compared with the average analyst estimate of $82.69 billion, according to IBES data from Refinitiv. Still fourth-quarter, sales rose about one percent to $20.39 billion, topping the average Wall Street estimate of $20.20 billion, helped by growth in sales of Crohn's disease treatment Stelara and cancer drugs such as Darzalex and Imbruvica.