Johnson & Johnson earns $457M from coronavirus vaccine sales in Q1

By Ovunc Kutlu

ANKARA (AA) - Johnson & Johnson earned $457 million from coronavirus vaccine sales in the first quarter of 2022, according to a financial results statement released Tuesday.

The American pharmaceutical and consumer goods manufacturer reported $382 million in sales from vaccines outside the US.

In the US, it gained $75 million from COVID-19 vaccine sales during the January-March period.

The company earned $100 million from coronavirus vaccine sales during the first quarter of 2021, all of which came only from the US.

Due to a global supply surplus and demand uncertainty, Johnson & Johnson said it is suspending its COVID-19 vaccine sales guidance.

The company posted more than $5.1 billion in net earnings in the first quarter, down 17.7% from almost $6.2 billion during the same period last year.

Reported sales, however, increased 4.9% to more than $23.4 billion, from $22.3 billion, during that period.

Due to rising sales year-on-year, Johnson & Johnson's stock price was up 3.1% to $183.21 at 10.18 a.m. EDT on the New York Stock Exchange.