Johnson & Johnson reported Q3 revenue of $25.31 billion, up 5.6% operationally despite a 460 basis point STELARA headwind, with adjusted EPS of $2.90 beating estimates and prompting raised full-year guidance. Innovative Medicine grew 6.8% with eight double-digit brands, while MedTech lagged at 3.6% due to Abiomed selectivity and pulsed-field ablation share loss; the company highlighted 28 billion-dollar products and early traction from ICOTYDE and INLEXZO launches. Management expressed confidence in clearing the STELARA cliff with ex-STELARA momentum and reaching #1 oncology status by 2030 with over $50 billion in sales, though MedTech inconsistency and China inventory drag of 400 basis points could limit the path to double-digit growth by decade-end.

Company: Johnson & Johnson (JNJ) — Q2 FY2026

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