J&J tops 2Q forecasts, trims guidance due to exchange rates

TOM MURPHY

AP Health Writer (AP) — Johnson & Johnson rode growing sales of the cancer treatment Darzalex and other key drugs to a better-than-expected second quarter, but foreign exchange rates again cut into the health care giant’s 2022 forecast. The company on Tuesday dropped its forecast to a range below analyst expectations after also trimming it in April due to exchange rates. The company, which brings in nearly half of its sales from outside the United States, now expects earnings of $10 to $10.10 per share. That’s down from a prediction of $10.15 to $10.35 per share it made in the spring.