New York (CNN Business)Johnson & Johnson reported surprisingly strong global sales for the third quarter despite Covid-19-related headwinds. The company’s quarterly sales of $21.1 billion were 1.7% greater than in the same period last year, largely driven by demand for over-the-counter medicines such as Tylenol, said Christopher DelOrefice, J&J’s vice president of investor relations. “E-commerce sales continue to drive growth across most brands,” DelOrefice said during an earnings call. Growth was also helped by retailers stocking up ahead of cold and flu season, he said. Medical device sales also rose in during the quarter because of a surge in rescheduled treatments that were delayed by the coronavirus pandemic in the spring. The better-than-expected earnings came a day after J&J (JENHX) announced it was pausing its Covid-19 vaccine trial following the unexplained illness of a trial volunteer. Executives on Tuesday’s earnings call offered few details on the trial. Read More “We know very little information right now,” said Mathai Mammen, global head of research and development for Johnson & Johnson’s Janssen Pharmaceutical Companies. In this undated photo provided by Johnson & Johnson in September 2020, a woman receives an injection during phase 3 testing for the Janssen Pharmaceutical-Johnson & Johnson vaccine… Read full this story
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