J&J sees slight Q2 gains, while Cordis' sales slide

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Johnson & Johnson (J &J) has announced sales of $15.3 billion for the second quarter of 2010, an increase of 0.6 percent as compared with the second quarter of 2009.
 
Net earnings for the second quarter of 2010 were $3.45 billion—an increase of 7.5 percent compared with the 2009 second quarter, according to the New Brunswick, N.J.-based company. The overall second quarter 2010 net earnings included an after-tax gain of $67 million representing the net impact of litigation matters. Excluding this special item, net earnings for the current quarter were $3.4 billion, representing increases of 5.4 percent, as compared to the same period in 2009.

J &J reported its pharmaceutical unit sales decreased by 2 percent in the second quarter of 2010 over the 2009 comparable quarter—$5.55 billion versus $5.5 billion. The company said its medical devices and diagnostics unit increased 4.1 percent in 2010 second quarter, compared with 2009 second quarter—$6.13 billion versus $5.89 billion.

The overall operational results increased 0.1 percent and the positive impact of currency was 0.5 percent. J &J's overall domestic sales declined 2.8 percent, while international sales increased 4.1 percent, reflecting operational growth of 3 percent and a positive currency impact of 1.1 percent.

The Cordis unit said its global sales dropped 2.8 percent in the 2010 second quarter, compared with the 2009 second quarter—$655 million versus $674 million. Cordis said its U.S. sales rose 5.2 percent, while its international sales dropped 7.6 percent in the same quarter-over-quarter period.

The diabetes care unit reported its global sales increased 2.3 percent in the 2010 second quarter, compared with 2009 second quarter—$616 million versus $610 million. The diabetes unit said its U.S. sales rose 2.3 percent, while its international sales dropped 0.3 percent in the same quarter-over-quarter period.