Johnson & Johnson reported better-than-expected first-quarter earnings, with earnings of $4.53 billion, or $1.62 per share, on revenue of $15.63 billion. And the pharma giant has its medical device business to thank for the results. Device and diagnostics sales totaled $6.2 billion for the first quarter represented--a 12.5 percent jump over last year. Domestic sales increased 8.8 percent, while international sales increased 15.9 percent.
Four areas are responsible for the growth in sales: Ethicon's surgical care products; DePuy's orthopaedic joint reconstruction and sports medicine businesses; Ethicon Endo-Surgery's minimally invasive products and Advanced Sterilization Products' infection prevention solutions; and Ortho-Clinical Diagnostics' professional products. The higher sales in these areas helped offset slower sales of Cordis' drug-eluting stent, as well as revenue declines for its prescription drugs and consumer products.
- see J&J's release
- read the MarketWatch article for more