Johnson & Johnson misses revenue estimates on flat sales of blockbuster drug

Stelara sales were flat at $2.45bn, falling short of analysts' expectations of $2.6bn.

Johnson & Johnson's first quarter revenue missed analysts' estimates, with sales of its blockbuster psoriasis drug Stelara coming in lower than expected as the company prepares for its loss of exclusivity in the US.

Stelara sales were flat at $2.45bn, falling short of analysts' expectations of $2.6bn. J&J chief financial officer Joe Wolk said Stelara revenue was flat because of contracting with healthcare providers and pharmacy benefit managers in anticipation of the drug's loss of exclusivity in the US next year.