J&J reports strong earnings and guidance, but cautious outlook impacts stock.

Johnson & Johnson reported strong growth in its pharmaceutical business, driven by international sales of its COVID-19 vaccine, which contributed $747 million in sales during the first quarter. However, the company does not expect any material sales from the vaccine moving forward as its contractual commitments are complete. The vaccine has been overshadowed by more effective shots from Pfizer and Moderna due to a rare but serious risk of a blood-clotting disorder. Developing countries continue to rely on J&J's vaccine due to its single-shot regimen and lower cost.