Medical device sales at J&J beat pharma revenues for the second quarter running

October 13, 2009 By MassDevice staff Leave a Comment

Johnson & Johnson reported third-quarter sales for its medical devices division jumped 2.3 percent, outstripping results for its pharma segment for the second consecutive quarter.

The New Brunswick, N.J-based healthcare products conglomerate, which has several units based in Massachusetts, posted $5.8 billion in global medical device sales during the three months ended Sept. 30.

The jump was led by a 4.5 percent domestic sales increase; J&J’s Depuy business units, which are based in Raynham, Mass., fared especially well. The medical devices unit as a whole took in just under $1.3 billion in the U.S., compared to $1.2 billion during the same period last year. The 4.3 percent increase was partially offset by a 2.4 percent drag from foreign currency exchange rates.

But that growth was offset by weak sales within the company’s stents business, particularly its Cordis Corp. subsidiary, which saw a 7.2 percent decline worldwide. JNJ blamed the drop on strong competition.

Although Cordis recently
Boston Scientific Corp. for $716 million, it continues to battle its Natick, Mass.-based rival for a share of the drug-eluting stent market.

For the nine-month period, JNJ’s global medical device sales were just under $17.3 billion, about 1.3 percent off of last year’s pace. Domestically, medical device sales were up 3 percent from the same period last year.

Overall, Johnson & Johnson posted $15 billion in global sales, off 5.3 percent from the same period last year, largely due to a a 14 percent slide in its pharmaceuticals business.

Despite the decline, JNJ posted nine-month profits of more than $3.3 billion, up 1 percent from the same period last year.

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