Johnson and Johnson medical device sales reach $6.1bn in Q2

Healthcare giant Johnson & Johnson today announced record sales of $16.5 billion (8.24 billion pounds) for the second quarter (Q2) of 2008, with medical device sales hitting $6.1 billion.

The worldwide medical devices and diagnostics sales of $6.1 billion for the second quarter represented a 12.1 per cent increase from last year.

There was operational growth of 5.7 per cent and a positive impact from currency of 6.4 per cent.

Domestic medical device sales increased 4.0 per cent, while international sales increased 19.7 per cent 7.3 per cent from operations and 12.4 per cent from currency.

The overall company profits jumped eight per cent, thanks to strong consumer sales and the weak dollar inflating sales overseas, beating market expectations.

Commenting on the results, William C Weldon, chairman and chief executive officer of Johnson & Johnson, said the solid earnings builds upon the company’s strong track record.
“We are successfully managing through short-term pressures while continually making progress to enhance our long-term growth,” he said.

Earlier this month Johnson & Johnson announced a commitment by its pharmaceutical companies to adopt the revised Pharmaceutical Research and Manufacturers of America code on ethical interactions with healthcare professionals.