Johnson & Johnson reports first-quarter sales above expectations

Johnson & Johnson reported first-quarter revenue above analysts' estimates on Tuesday, driven partly by demand for its Stelara treatment for psoriasis and Crohn's disease and cancer drugs Darzalex and Imbruvica. J&J, the first major drugmaker to report first-quarter results, reported a slight rise in quarterly sales to $20.02 billion, above the average analyst estimate of $19.61 billion, according to IBES data from Refinitiv.

The U.S. healthcare conglomerate said net profit fell to $3.75 billion, or $1.39 per share, from $4.37 billion, or $1.60 per share, a year earlier. J&J recorded litigation expense of $423 million in the first quarter. The company not record litigation expense in the year-ago period. (Reporting by Manas Mishra and Saumya Sibi Joseph in Bengaluru Editing by Saumyadeb Chakrabarty)