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Johnson & Johnson Posts Q3 2010 Financial Report

Posted: October 19, 2010

Johnson & Johnson announced sales of $15 billion for the third quarter of 2010, a decrease of 0.7% as compared to the third quarter of 2009. Operational results increased 0.1% and the negative impact of currency was 0.8%. Domestic sales declined 2.5%, while international sales increased 1.1%, reflecting operational growth of 2.6% and a negative currency impact of 1.5%.

“We continue to deliver solid earnings while investing in our future through complementary strategic partnerships and acquisitions,” said William C. Weldon, chairman and CEO. “Our pharmaceutical business has returned to growth this year, and we continue to advance our pipeline with promising clinical data in key therapeutic areas. We are pleased with the strong performance of newly launched products in both our pharmaceutical and medical device and diagnostics businesses.”

Worldwide consumer sales of $3.6 billion for the third quarter represented a decrease of 10.6% versus the prior year, consisting of an operational decline of 10.2% and a negative impact from currency of 0.4%. Domestic sales decreased 24.5%; international sales decreased 0.3%, which reflected an operational increase of 0.4% and a negative currency impact of 0.7%.

Positive contributors to operational results were Dabao skin care products, baby care products and international sales of anti-smoking aids. Sales were significantly impacted by the previously announced recalls of certain over-the-counter medicines and the suspension of manufacturing at the McNeil Consumer Healthcare Fort Washington, PA, facility as well as the currency devaluation in Venezuela.