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Strong Growth in Drug Sales Drives J&J

Growth should moderate amid competition, but we view the stock as fairly valued today.

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Damien Conover: Johnson & Johnson reported second-quarter earnings that were largely in line with both our expectations and consensus, and we continue to view the company with a strong, wide economic moat.

One of the things that's interesting about Johnson & Johnson's quarter is the very strong growth in its drug sales. Johnson & Johnson is at a great point of launching a lot of new drugs, both in immunology and oncology. That is really well positioning the overall company and really helping to offset some of the slower growth that we're seeing in the device and consumer division.

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Damien Conover does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.