Johnson and Johnson reports strong growth in third quarter of 2016

Johnson and Johnson has announced its financial results for the third quarter of 2016, during which it generated a sales total of $17.8 billion (14.47 billion pounds).

This represented a year-on-year increase of 4.2 percent, with new product launches and the ongoing strength of the company's core businesses helping to drive this positive momentum.

Its worldwide pharmaceutical sales of $8.4 billion represented an increase of 9.2 percent compared to Q3 2015, while its medical device sales were up by 1.1 percent to $6.2 billion. This helped to offset a fall in consumer division revenues.

The company saw strong sales of its electrophysiology products, endocutters and energy devices, Acuvue contact lenses and joint reconstruction and trauma products. The planned takeover of Abbott Medical Optics will also drive further growth.

Additionally, Johnson and Johnson remains on track to fulfil its goal of filing ten new pharmaceutical products between 2015 and 2019.

Alex Gorsky, chairman and chief executive officer of Johnson and Johnson, said: "Our broad-based business model, strategic investments and talented colleagues position us well for continued leadership in healthcare."

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