Johnson & Johnson’s recently reported first quarter earnings report dropped more than 3 percent on the day the news was announced, a rarity for a fairly stable stock, according to NASDAQ analysts. The consumer health care and pharmaceutical giant is blaming the weak first-quarter earnings on price discounting in certain sales channels, as well as competition for the underperformance of its pharmaceuticals. Specifically, sales of J&J’s type 2 diabetes drugs Invokana and Invokamet fell almost 16.8 percent in the U.S. due to lower prices. The company’s blood thinner Xarelto, manufacturered in partnership with Bayer, saw a slight increase in prescription share, ... Read More
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