Global sales for healthcare giant Johnson & Johnson JNJ jumped 1.7 percent in Q416, up to US$18.1 billion from US$17.8 in Q415, according to its results released today. This resulted in an increase of 2.6 percent for FY2016 compared to FY2015, up to US$71.9 billion from US$70.1.
“The strong adjusted sales and EPS growth was driven by the impressive performance of our Pharmaceutical business and continued momentum in our Medical Device business and share gains while improving profitability in our Consumer business,” said Alex Gorsky, Chairman and Chief Executive Officer of Johnson & Johnson.
Although worldwide consumer and medical device sales saw slight decreases (1.5 and 0.1 percent respectively), worldwide pharma sales jumped by 6.5 percent to US$33.5 billion from US$31.4.
This was led by a 15.1 percent reported increase in immunology and a 23.7 percent spike in oncology. FY2016 net earnings came to US$16.5 billion in 2016, up 7.3 percent from US$15.4 in FY2015.
Reported results were lower than operational results in all areas due to a negative currency impact. During the quarter, the Consumer division was negatively impacted by approximately US$50 million by the demonetization in India and Article 94 regulation in China.
Electrophysiology, Endocutters, Energy, Knees and Trauma were the main drivers of growth in Medical Devices, as were Oncology and Immunotherapy in Pharma.
The full report can be found here.