Johnson & Johnson (JNJ) on Wednesday rele𝐆ased its first 𒆙earnings forecast as a standalone pharmaceutical and medical devices company, estimating double-digit growth in earnings this year.

J&J forecasts full-year adjusted earnings per share to come in between $10 and $10.10, 12.5% higher than in 2022.

With the completion of its 澳洲幸运5官方开奖结果体彩网:Kenvue exchange offer, in which shares of J&J were swapped with Kenvue stock, the consumer health business will be reported as discontinued operations, including a gain of about $20 billion in this year's third quarter.

Now focusing on its pharmaceutical and medical technology businesses, J&J's first-half sales were $42 billion, an increase of 5.9% year-on-year. Its net earnings, stripped of Kenvue, were down 44.7% to $4.9 billion. With Kenvue's results, earnings fell 49% to just over $5 billion in the first half of 2023.

While $13.2 billion was generated in cash proceeds from Kenvue's IPO and debt offering, Johnson & Johnson maintains a 9.5% stake in the new consumer health company.

Kenvue's separation from Johnson & Johnson was one of the most substantial shakeups in the conglomerate's history. Considered one of the biggest IPOs of the year, Kenvue's stock swap was hugely popular with shareholders.

J&J's shares inched up about 0.1% Wednesday morning.