J&J Rx drug sales flat, consumer and devices up
Johnson & Johnson flaunted the benefits of its diversified and global business portfolio today, reporting respectable third-quarter results despite static worldwide pharmaceutical sales of $6.1 billion.
Overall sales were up 6.4% for the quarter, year-on-year, to $15.9 billion. But with the company's prescription drugs business hit by generic competition and overall US sales flat, the growth came from J&J's consumer products and medical device and diagnostics businesses, along with healthy international sales.
Schizophrenia drug Risperdal, in particular, lost US patent protection in June and saw sales slide 62% year-on-year. Long-acting injectable Risperdal Consta, which remains on-patent, saw a 10% jump in sales. Other strong performers among the company's portfolio of prescription drugs included Velcade for multiple myeloma; Remicade for Chron's, rheumatoid arthritis and psoriasis; and Topamax for epilepsy and migranes.
Worldwide consumer sales were up 13.1% to $4.1 billion on a successful US launch of OTC Zyrtec and strong sales of Listerine, Neutrogena, Clean & Clear and Aveeno, as well as international baby care products and Davao, the leading moisturizer in China.
Medical devices and diagnostics sales were up 8.8% for the quarter to $5.7 billion, buoyed by strong performances by J&J Diabetes Care's blood glucose monitoring and insulin delivery products; Ethicon Endo-Surgery's minimally invasive products, Vistakon's disposable contact lenses; Ortho-Clinical Diagnostics' professional products and DePuy's orthopaedic joint reconstruction, sports medicine and trauma businesses. However, Cordis sales were hit by new competition and continuing category-wide safety fears in the drug-eluting stent market.