J&J - Devices, OTC Grow Faster than Rx
Make a commentBy Ed Silverman // January 23rd, 2007 // 8:25 am
The healthcare giant reports that sales of devices and diagnostics grew 6.2 percent to $20.3 billion and sales of consumer health items increased 7.5 percent to $9.8 billion, Drug sales, meanwhile, hit $23.3 billion, up just 4.2 percent.
One trouble spot - stent sales fell 15 percent in the fourth quarter.
Here are the other numbers: total sales were $13.7 billion for the fourth quarter of 2006, an increase of 8.5 percent from a year ago. Domestic sales were up 6.4 percent, while international sales increased 11.2 percent. Worldwide sales for the year 2006 were $53.3 billion, an increase of 5.6% over 2005.
Net earnings and diluted earnings per share for the fourth quarter of 2006 were $2.2 billion and 74 cents, respectively. Net earnings included an after-tax charge of $217 million associated with the acquisition of Pfizer Consumer Healthcare. Excluding this charge, net earnings were $2.4 billion and 81 cents, representing increases of 13.5 percent and 15.7 percent, respectively.
Bill Weldon, J&J’s ceo, called 2006 a “solid year.”
An earnings call is about to take place for Wall Street analysts.