J&J raises 2021 profit view, keeps vaccine sales outlook unchanged

Johnson & Johnson on Tuesday raised its adjusted profit forecast for 2021, even as it stuck to its outlook of $2.5 billion in sales from its COVID-19 vaccine this year.

The company raised its annual adjusted earnings forecast to between $9.77 per share and $9.82 per share, from its prior estimates of $9.60 to $9.70 per share.

The drugmaker had faced major problems with the production of its COVID-19 vaccine earlier this year, when quality problems at a Baltimore manufacturing facility wasted millions of doses, leading to delays.

J&J (NYSE:JNJ) in July said it expects to produce 500 million to 600 million doses of its one-shot vaccine this year, down from its goal to make a billion shots.

The U.S. Food and Drug Administration’s independent advisers last week recommended authorizing a second dose of J&J’s vaccine for all recipients of the one-dose inoculation.