Johnson and Johnson sees further growth in Q3 2013

Johnson and Johnson has announced its financial results for the third quarter of 2013, during which it achieved a three-month sales total of $17.6 billion (11.02 billion pounds).

This represented a year-on-year increase of 3.1 percent, thanks to the success of its recent product launches, with the growth of its pharmaceuticals and consumer divisions helping to offset a decline in sales of medical devices and diagnostic products.

Further growth is expected to be achieved in the months to come as the group progresses its pipelines with several regulatory approvals, submits new drug applications and executes various strategic collaborations.

As such, the company's earnings guidance for the full-year period has been increased.

Alex Gorsky, chairman and chief executive officer, said: "Our third-quarter results reflect the solid, demonstrable results in achieving our near-term priorities while also advancing our longer term strategic growth drivers."

This comes after Johnson and Johnson announced new European healthcare research collaborations with Effimune, DCPrime, CureVac and Merus earlier this month, to be based at its London Innovation Centre.