Johnson & Johnson reports robust Q2 growth

Johnson & Johnson reports robust Q2 growth

THE WHAT? Johnson & Johnson has announced Q2 reported sales of US$23.3 billion, a YOY rise of 27.1 percent, driven by strong sales and earnings across the medical device and pharma sectors, with consumer health also reporting growth. 

THE DETAILS Consumer health rose 9.2 percent on an operational basis to US$3.7 million, driven by brands such as Neutrogena, Aveeno and OGX. 

Speaking on the company’s Q2 earnings call, Chris DelOrefice, Vice President of Investor Relations, noted that the skin health beauty franchise had grown 12.9 percent globally, with baby care up 5 percent. Oral care grew 2.5 percent. 

Pharmaceutical sales grew 14.1 percent, while medical devices soared 58.7 percent, excluding the net impact of acquisitions and divestitures. This was driven by the ‘benefit of market recovery by COVID-19 impacts’ and the associated deferall of medical procedures in the prior year. 

THE WHY? J&J Chairman and CEO Alex Gorsky cited the company’s ‘diversified portfolio’ as helping to bolster results. 

Thibaut Mongon, Executive VP and worldwide Chairman of consumer health said, “In a nutshell, consumer health delivered a strong quarter and a solid first half. Our strategy is working and we are confident in our ability to continue to deliver profitable growth in line with the categories and market in which we compete.” 

All three units are predicated to continue on a growth trajectory.