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Johnson and Johnson, Inc.

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J&J’s Pharma segment is performing well despite challenges like generic competition for a few products, potential biosimilar competition and lower HCV revenues.  While Pfizer’s pending launch of biosimilar Remicade creates some uncertainty regarding the segment’s sales growth in 2017, we believe that the impact may be manageable. Contribution from new as well as core products, share buybacks and the restructuring initiative should help drive results. Estimates have remained mostly stable lately ahead of the Q4 earnings results. J&J has a positive record of earnings surprises in recent quarters. J&Js shares have surpassed that of large-cap pharma industry in 2016. However, headwinds persist in the form of generics and biosimilar competition and pricing pressure.


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