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J&J hikes 2021 Profit Forecast, COVID-19 Vaccine Sales Grow

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FILE - The Johnson & Johnson logo appears above a trading post on the floor of the New York Stock Exchange, Monday, July 12, 2021. Johnson & Johnson is raising its 2021 profit forecast again after growing sales of the cancer treatment Darzalex and other drugs pushed it past Wall Street’s third-quarter earnings expectations. The health care giant also said Tuesday, Oct. 19, 2021 that sales of its single-shot COVID-19 vaccine started to pick up in the quarter. (AP Photo/Richard Drew, file)

(AP) – Sales of the cancer treatment Darzalex helped Johnson & Johnson deliver better-than-expected third quarter earnings, while COVID-19 fueled vaccine revenue and had more customers reaching for Tylenol. The world’s biggest maker of health care products also said Tuesday that it had raised its 2021 earnings forecast. Sales of J&J’s single-shot COVID-19 vaccine started to pick up in the quarter and nearly doubled what it brought in during the first half of 2021. J&J also said sales of over-the-counter drugs, which do not need prescriptions, grew 18% globally as more customers bought Tylenol and Motrin partly for vaccine symptom relief.

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