J&J's Q1 2010 conference call Q&A now underway -- CFO Dominic Caruso: Still within the expected $4.80 to $4.90 EPS for the year, but off 10 cents -- to the lower end of the range -- due to reform. J&J also expects currencies to take 8 to 10 cents off of results. Add backs include one time gains.
. . . .It is all driven by Medicaid rebates in 2010; Medicare decreases will show up in 2011. . . . J&J expects exspansion in 2014, when the bulk of the uninsured patients start to receive coverage, and purchase covered drugs. . . .Waiting for any comment on Remicade/Simponi arbitration with Merck.No comments on that. . . .
More in a minute, but expect most of pharma to be slightly worse than this -- J&J's consumer sales offset a lot of the minuses.
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