Johnson & Johnson

J&J 1Q

1Q Revenues: $15.6 billion (+4%)

1Q Earnings: $4.5 billion (+29%)

Comments: Earnings were boosted by a $910 million one-time gain from litigation. Worldwide pharma sales fell 2% to $5.6 billion, aided by a 3% boost from currency fluctuation. Domestic pharma sales dropped 13%. Consumer sales were $3.8 billion (+1%, with a 5% boost from currency), with domestic sales down 9%. Worldwide device sales were up 13% (incl. 4% from currency) to $6.2 billion, with domestic sales up 9%. Pharma sales were driven by Remicade, up 15% to $1.2 billion. Velcade sales grew 36% (international only) to $261 million. Prezista sales were up 53% to $187 million.