J&J post modest second quarter increase

Johnson & Johnson has seen a modest increase in sales for the second quarter, buoyed primarily by international sales and newly launched products. 

Pharmaceutical sales increased by 1% to $5.6 billion, with a 5% hike in international sales helping off-set US sales that decreased by two per cent.

William Weldon, chairman and chief executive, said: “Our second-quarter results include strong growth in a number of our recently launched products which contributed to solid earnings.

“At the same time, we continue to make significant investments in acquisitions, strategic partnerships and in advancing our pipeline, positioning us well for future growth.”

Sales growth included strong performances from newly-launched products including Stelara for the treatment of moderate to severe plaque psoriasis and Simponi, a biologic approved for several inflammatory disorders.

An injectable form of Invega Sustenna for schizophrenia and multiple myeloma treatment Velcade also did well.

Migraine treatment Topamax and antipsychotic Risperdal were both negatively impacted by generic pressures.

Worldwide medical devices and diagnostics sales of $6.1 billion for the second quarter represented an increase of 4.1 per cent.

The US-based healthcare company’s overall, performance grew by just over half a per cent to $15.3 billion but saw US sales decrease by nearly three per cent.

J&J has revised its 2010 full-year guidance to take account of the voluntary recalls that earlier this year affected a number of OTC medicines, and the suspension of manufacturing at the McNeil Consumer Healthcare facility in Fort Washington.

Of its continuing manufacturing woes Weldon said that remedial actions were being made to address the product quality issues at McNeil are ongoing and of “high importance” to the company. 

Ben Adams