Financial Report: Johnson & Johnson 1Q

Johnson & Johnson 1Q

1Q Revenues: $15.0 billion (-7%)

1Q Earnings: $3.5 billion (-3%)

Comments: Worldwide pharmaceutical sales were $5.8 billion in the quarter (-10%) with an operational decline of 5% and a negative impact from currency of 5%. Domestic sales were down 10%. International sales were down 11%, which reflected an operational increase of 3% and a negative currency impact of 14%. Concerta sales were up 19% to $344 million; Remicade sales were $1.0 billion (+3%); Invega sales were $91 million (+38%); Risperdal Consta sales were $325 million (+5%); and Velcade sales were $192 million (+4%). Risperdal sales were down 66% to $275 million due to generic competition and sales of Procrit were down 13% to $550 million due to a decline in the market. Worldwide consumer sales were $3.7 billion in the quarter (-9%). Worldwide Medical Devices and Diagnostics sales were $5.5 billion (-3%).