Financial Report: Johnson & Johnson 1Q

Johnson & Johnson

1Q Revenues: $17.5 billion  (+9%)

1Q Earnings: $3.5 billion (-11%)

Comments: Pharmaceutical sales were $6.8 billion, up 10%. Primary contributors to growth were Invega, Sustenna/Xeplion, Stelara, Simponi, Remicade, Prezista, and sales of recently launched products. Consumer sales were $3.7 billion, up 2%. Medical Devices and Diagnostics sales were $7.1 billion, up 10%. Domestic sales increased 11% and international sales increased 6%. Sales included the impact of the acquisition of Synthes, Inc., net of the divestiture of the DePuy trauma business, which contributed 6% to operational sales growth. Earnings included after-tax items of approximately $0.6 billion, primarily related to litigation expenses, as well as integration and costs for the Synthes acquisition.