J&J’s sales continue to rise in Q3
It’s that time of year again, when pharma companies shares their third quarter financial results. At the beginning of the week, it was the turn of J&,J. The company announced better-than-expected sales of US $17.1 billion for the third quarter of 2012, which is an increase of 6.5% compared to the third quarter of 2011.
There were positive sales increases in many areas – J&,J’s domestic sales increased 13.4%, international sales by 1.4% and operational results by 10.8%. Sales included the impact of the recently completed acquisition of Synthes, Inc., which contributed 5.8% to worldwide operational sales growth. Positive contributors to operational results were sales of upper respiratory over-the-counter products, international sales of Listerine oral care products and Neutrogena skin care products.
“Our third-quarter results reflected continued sales momentum driven by strong growth of key products, successful new product launches, and the addition of Synthes to our family of companies. We advanced our pipelines with regulatory approvals for a number of new products, the submission of several new drug applications, and the completion of several strategic collaborations. I’m extremely proud of our talented and dedicated colleagues throughout Johnson &, Johnson and I have great confidence in our ability to deliver sustainable growth and bring meaningful innovations to patients and customers around the world.”
Alex Gorsky, Chief Executive Officer of J&,J.
However, J&,J’s earnings declined by 7.3% year-on-year to US $2.97 billion – mostly due to the charges following the company’s US $21 billion acquisition of Synthes, Inc.
Deal Costs Hit J&,J’s Net Profit (The Wall Street Journal)
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