In its quarterly financial statement Johnson & Johnson says its sales of $17.9 billion for the second quarter of 2013, represent an increase of 8.5% as compared to the second quarter of 2012. This figure includes the impact of the acquisition of Synthes, Inc., net of the divestiture of the DePuy trauma business.
Obviously J&J is a massive multi-business concern, and we’re only really interested in the device bit. So cutting to the chase, Worldwide Medical Devices and Diagnostics sales of $7.2 billion for the second quarter represented an increase of 9.6% with US domestic sales increasing 9.8% and International sales increased 9.4%.
Sales included the impact of the acquisition of Synthes, Inc., net of the divestiture of the DePuy trauma business. Rather less rosily then, buried in the release, excluding the Synthes impact, worldwide operational device sales growth was only 0.5%.
Aside from Synthes, other big contributors to operational growth came from Biosense Webster’s electrophysiology products in the Cardiovascular Care business, Vision Care’s 1-Day ACUVUE® TRUEYE and 1-Day ACUVUE® MOIST® disposable contact lenses, and biosurgical and international sales of energy products in the Specialty Surgery business.
The negative bits come from the Diagnostics unit which decreased 6% to $483 million in the second quarter, diabetes devices which were down 12.5% (23.1% in the U.S.) at $589 million. Surgical care was down 3.2% to $1.6 billion, and vision care was flat at $730 million.
Down at the bottom of the statement, the Company reassured investors by increasing its earnings guidance for full-year 2013 to $5.40 – $5.47 per share.
So it would appear that the leviathon that is J&J is far from immune to the economic pressures on the healthcare sectors on a global basis. This statement probably tells us it was a good move to acquire Synthes at very least.
The full statement can be found here.
Source: Johnson & Johnson