Johnson & Johnson beat first-quarter expectations, as growth in cancer treatments and the health care giant’s home market helped counter another revenue hit from the strong dollar.
The health care giant booked a $68 million loss on a one-time charge in the quarter related to its baby powder, and revenue grew more than 5% to $24.75 billion, which was better than anticipated.
Sales in pharmaceuticals, the company’s largest business, grew 4% in the quarter. The bulk of that revenue came from immunology and cancer treatments. Those include long-standing top sellers like the blood cancer treatment Darzalex and Stelara, which treats psoriasis and other inflammatory disorders.