Johnson & Johnson Reports Third-Quarter 2013 Results

Johnson & Johnson reported its 2013 third-quarter results, with sales of $17.6 billion up 3.1% as compared to the third quarter of 2012, the company announced in a press release. Operational results increased 4.7% and the negative impact of currency was 1.6%. International sales, up 4.2%, reflected operational growth of 7.1% and a negative currency impact of 2.9% and outpaced domestic US sales, which increased 1.7%.

For the third quarter of 2013, net earnings (attributable to Johnson & Johnson) were $3.0 billion and diluted earnings per share were $1.04. The company increased its earnings guidance for full-year 2013 to $5.44–5.49 per share, which excludes the impact of special items.

Worldwide pharmaceutical sales of $7.0 billion for the third quarter represented an increase of 9.9% over the previous year, with operational growth of 10.9% and a negative impact from currency of 1.0%. Domestic sales increased 7.9%. International sales increased 12.0%, which reflected an operational increase of 14.0% and a negative currency impact of 2.0%.

Primary contributors to operational sales growth were Invega Sustenna/Xeplion (paliperidone palmitate), a once-monthly, long-acting, injectable atypical antipsychotic for the treatment of schizophrenia in adults; Remicade (infliximab) and Simponi (golimumab), biologics approved for the treatment of a number of immune-mediated inflammatory diseases; Stelara (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis and psoriatic arthritis; Velcade (bortezomib), a treatment for multiple myeloma; Prezista (darunavir), a treatment for HIV; and sales of new products.

Source: Johnson & Johnson