Johnson & Johnson Posts Higher Quarterly Sales, Raises 2023 Outlook

Johnson & Johnson raised its full-year sales and earnings outlook after revenue rose 5.6% in the first quarter, lifted by demand for everything from Tylenol to the company’s pharmaceutical products and contact lenses.

The New Brunswick, N.J., healthcare-products company also said Tuesday that first-quarter earnings were largely wiped out by a $6.9 billion charge tied to J&J’s proposal to resolve tens of thousands of lawsuits alleging injuries caused by its talc-containing powders including Johnson’s Baby Powder.