Johnson & Johnson topped third-quarter expectations thanks to pharmaceutical sales growth, but a strong dollar made the health care giant tread cautiously again with its outlook.
FILE - Band-Aids, from Johnson & Johnson, are displayed in a pharmacy, Thursday, July 16, 2020, in New York. Johnson & Johnson topped third-quarter expectations thanks to growth in pharmaceutical sales, but the health care giant continued to tread cautiously with its outlook due to foreign exchange rates.
J&J brings in nearly half of its sales from outside the United States. A strong U.S. dollar — now worth more than a euro for the first time in 20 years — can affect sales for companies that do a lot of international business.
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