Johnson and Johnson experiences further growth in Q3 2014

Johnson and Johnson has published its financial results for the third quarter of 2014, during which it generated sales of $18.5 billion (11.47 billion pounds).

This represented a year-on-year increase of 5.1 percent, with double-digit growth for its US business helping to offset the relatively slow performance seen overseas.

During the three-month period, the organisation was able to achieve strong momentum for its pharmaceuticals division, compensating for the weaker results achieved by its consumer care division. The medical device division was also able to complete the sale of the Ortho-Clinical Diagnostics business.

In July, the company also announced a share repurchase programme of up to $5 billion of common stock. Based on its recent results, it has chosen to increase its earnings guidance for the full year.

Alex Gorsky, chairman and chief executive officer at Johnson and Johnson, said: "I am proud of our colleagues around the world who are focused every day on delivering solutions to address the evolving healthcare needs."

This comes after the firm achieved sales totals of $18.1 billion and $19.5 billion in the first and second quarters of 2014 respectively.