Johnson & Johnson is buying $10 billion worth of itself

Johnson & Johnson is set to report third-quarter earnings results on Tuesday morning.

Ahead of the release, the company announced a $US10 billion share buyback program. It said it will finance the repuchases by issuing debt.

Its stock is down 8% year-to-date., and 5% over the past 12 months.

Analysts estimate that J&J will post adjusted earnings per share of $US1.45 on revenues of $US17.45 billion, according to Bloomberg.

More to come …

NOW WATCH: The CEO who raised the price of a life-saving pill 5,000% is doubling down

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at