Johnson and Johnson has ‘solid’ fiscal 2006

Johnson & Johnson has published its financial results for the 2006 fiscal year, reporting an increase of 5.6 per cent in worldwide sales for the year to $53.3 billion (26.82 billion pounds).

Net earnings for the year rose 9.9 per cent to $11.1 billion, with diluted earnings per share rising 11.3 per cent to $3.73.

Sales growth of 6.2 per cent in the company’s medical devices and diagnostics business unit to $20.3 billion was attributed to sales of Ethicon Endo-Surgery minimally invasive products, DePuy orthopaedic joint reconstruction, LifeScan blood glucose monitoring and insulin delivery products, disposable contact lenses from Vistakon and the company’s sports medicine and trauma business.

William C Weldon, chairman and chief executive officer of the company, said: “Johnson & Johnson had a solid year in 2006, delivering double-digit growth in earnings per share while continuing to invest in building our businesses for the future.”

He added that the company was excited about its recent acquisition of the consumer healthcare division of Pfizer which would add to the company’s foundations in the human healthcare sector.

Johnson and Johnson acquired this business unit from Pfizer in December 2006 for $16.6 billion, equal to $13.5 billion after tax.