Johnson and Johnson announces record sales

Johnson and Johnson has announced record sales, with its pharmaceutical division recording revenues of $5.8 billion (3.17 billion pounds), representing an increase of 3.2 per cent.

The company highlighted the approval from the European Mutual Recognition Procedure for Jurnista, a new treatment for severe pain, as well as the submission of a marketing authorisation application to the European Medicines Evaluation Agency for Paliperidone prolonged-release tablets, targeted to treat schizophrenia.

Additionally, Johnson and Johnson said that Janssen Cilag drugs like Risperdal, an antipsychotic prescribed in the UK, had sold well, along with Topamax, a migraine treatment and antiepileptic drug. Concerta, the ADHD treatment, and Remicade, marketed in the UK by Schering-Plough, also sold strongly.

Johnson and Johnson’s chief executive officer, William C Weldon, stated: “Our second quarter results demonstrated improving performance, which is anticipated to continue throughout the remainder of the year.

“We have made a number of business-building investments and have received several significant regulatory product approvals.”

He added: “These investments and approvals will help us both sustain important leadership positions as well as enter new high growth markets characterised by unmet medical need.”

Last month, Johnson and Johnson acquired Pfizer’s consumer healthcare division for a cash sum of $16.6 billion. Johnson and Johnson will inherit Pfizer over-the-counter products such as Listerine, Nicorette, Benadryl, Sudafed, Diflucan, TCP and Calpol.

GlaxoSmithKline had been touted to bid for the division but Johnson and Johnson provided a definitive offer.

Johnson and Johnson has also acquired Vascular Control Systems, Peninsula Pharmaceuticals and Groupe Vendome during the last quarter.

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