Johnson and Johnson reveals small first quarter sales growth

Johnson & Johnson has revealed its first quarter financial results, with a low percentage increase recorded for sales year-on-year.

The company said that sales in the first quarter of the year were 1.2 per cent higher than for the same period in 2005, standing at $13 billion.

“Our first quarter results were as anticipated and we look forward to improving performance throughout the balance of the year,” said William C Weldon, chairman and chief executive officer of Johnson & Johnson.

“We are continuing to make significant investments in research and development in order to bring important new products to markets, positioning us well for long-term growth.”

International sales for the company grew by just 0.8 per cent during the first quarter, accounting for an operational growth of 6.1 per cent.

Worldwide sales of pharmaceuticals experienced negative growth for the quarter, with the company saying that sales of generic drugs affected those of the Johnson & Johnson products Duragesic, Ultracet and Sporanox.

© Adfero Ltd