Johnson and Johnson experiences third-quarter growth

Johnson and Johnson has published its financial results for the third quarter of 2012, during which it experienced significant growth in medical device sales.

The group's overall revenue total for the three-month period came to $17.1 billion (10.58 billion pounds), up by 6.5 percent compared to Q3 2011, with the recent acquisition of Synthes having a significant positive impact.

As a result of this takeover, the company's medical devices and diagnostics division experienced a 12.5 percent growth rate during the quarter to achieve sales of $7.1 billion, making it the group's single largest contributor.

Other key events taking place during the third quarter included several new product launches, the completion of a number of strategic collaborations and the divestiture of the DePuy trauma business.

Alex Gorsky, chief executive officer (CEO) of Johnson and Johnson, said: "I'm extremely proud of our talented and dedicated colleagues throughout Johnson and Johnson and I have great confidence in our ability to deliver sustainable growth and bring meaningful innovations to patients and customers."

Earlier this month, the company paid tribute to former chairman and CEO James Burke, an influential business leader who recently passed away at the age of 87.