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J&J sales up 8.3 per cent

Johnson & Johnson has reported total sales of $16.60bn for the second quarter of 2011, with strong international pharma growth countering a decline in US consumer products due in part to several recalls

Johnson & Johnson (J&J) has reported total sales of $16.60bn for the second quarter of 2011, an improvement of 8.3 per cent on 2010's performance.

Net profit for the company was down, however, decreasing from $3.45bn for Q2 2010 to $2.78bn for the same period in 2011. This year's figure was affected by an after-tax charge of $549m representing restructuring by Cordis Corporation, as well as litigation charges of $363m and a $54m cost for the recall of the DePuy ASRTM Hip.

The company's strongest area of growth was in pharmaceutical products sold outside the US. J&J made $2.99bn in the region, an increase of 22.6 per cent from 2010.

Behind this growth were recent product launches and approvals, including psoriasis treatment Stelara (ustekinumab); prostate cancer drug Zytiga (abiraterone acetate) and Invega Sustenna (paliperidone palmitate) for schizophrenia.

The strong international performance helped vounter a downturn in sales for the company's US consumer segment, with revenues down 8.5 per cent. J&J has faced several recalls and suspensions in the past year relating to products produced at its McNeil Consumer Healthcare facility in Fort Washington, Pennsylvania.

The company's half-year figures saw net earnings decrease too, with the company making $6.25bn for the first six months of 2011 compared to $7.98bn in 2010.

Sales for the period were up by 5.8 per cent, however, totalling $32.77bn.

19th July 2011

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