Johnson & Johnson Asia Pacific sales slip, books quarterly profit of US$3.7bBusiness | 16 Apr 2019 7:53 pm
Johnson & Johnson topped profit and revenue expectations for the first quarter partially on strong sales of its psoriasis treatment, Stelara.
The New Brunswick, New Jersey, company on Tuesday posted profit of US$3.75 billion, or US$1.39 per share. Profit was down by 14 percent, on-year.
Earnings, adjusted for amortization costs and research and development costs, were US$2.10 per share, or 7 US cents better that Wall Street expected, according to a survey by Zacks Investment Research.
The world’s biggest maker of health care products posted revenue of US$20.02 billion, also edging out projections.
“Our strong first-quarter results reflect continued underlying operational sales and adjusted earnings per share growth,” said Alex Gorsky, chairman and chief executive.
Asia-Pacific and Africa sales in the quarter were US$3.8 billion, down from US$3.7 billion in the comparable quarter of 2018.
Consumer worldwide operational sales, excluding the net impact of acquisitions and divestitures grew by 0.7 percent driven by over-the-counter products including Tylenol analgesics, digestive health products and international anti-smoking aids; and Neutrogena beauty products. This was offset by lower sales of baby care products.
Worldwide consumer sales dropped by 2.4 percent to US$3.3 billion. Pharmaceutical sales increased by 4.1 percent to US$10.2 billion. Medical devices sales fell by 4.6 percent to US$6.5 billion, the company said.