Johnson & Johnson has reported a Q3 sales increase of 10.3 percent to $19.7bn, a 3.8 percent rise excluding acquisitions/divestitures on an operational basis, beating industry expectations and leading to the company raising its full-year outlook.
Sales increased 9.5 percent on a constant currency basis while domestic sales rose 9.3 percent. The personal care giant’s consumer business, which sells products such as Neutrogena and OGX Beauty, rose a modest 2.9 percent to $3.4billion. However, it was the pharmaceutical arm that was a primary contributor to the growth rising 15.4 percent.
Alex Gorsky, Chairman and Chief Executive Officer, said, “Johnson & Johnson accelerated growth in the third quarter. This is driven by the strong performance of our Pharmaceutical business, and augmented by Actelion and other recent acquisitions across the enterprise that will continue to fuel growth.”
The full-year outlook for 2017 was raised to $76.1 billion to $76.5 billion, with results said to have been driven by over-the-counter products including OGX and Neutrogena, which were said to have helped offset the negative impact of domestic baby care products.