January 27, 2012: Johnson & Johnson announced its full-year results this week, reporting sales of $16.3 billion for the fourth quarter of 2011, an increase of 3.9% as compared to the fourth quarter of 2010. Operational sales increased 4.0% and the negative impact of currency was 0.1%. Domestic sales declined by 3.4%, while international sales increased by 10.2%, reflecting an operational increase of 10.4% and a negative currency impact of 0.2%. Worldwide sales for the full-year 2011 were $65.0 billion, an increase of 5.6% versus 2010. Operational sales increased by 2.8% and the positive impact of currency was 2.8%. Domestic sales declined by 1.8%, while international sales increased by 12.4%, reflecting operational growth of 7.0% and a positive currency impact of 5.4%.
Net earnings and diluted earnings per share for the fourth quarter of 2011 were $0.2 billion and $0.08, respectively. Net earnings and diluted earnings per share for the full-year 2011 were $9.7 billion and $3.49, respectively. The com pany said full-year 2011 net earnings reflected after-tax charges of $4.2 billion, which included product liability expenses, the net impact of litigation settlements, a previously announced restructuring charge by Cordis Corporation, costs associated with the DePuy ASR™ Hip recall programme, and an adjustment to the value of a currency option and costs related to the planned acquisition of Synthes, Inc. Excluding these special items in both 2011 and 2010, net earnings for the full-year 2011 were $13.9 billion and diluted earnings per share were $5.00, representing increases of 4.4% and 5.0%, respectively, as compared with the full year of 2010.
“We delivered solid results for 2011, built on the strong growth of our recently launched pharmaceutical products, and continued the steady momentum of new product approvals across all our businesses,” said William C. Weldon, chairman and chief executive Officer. “Our talented people are focused on bringing meaningful innovations to patients and customers to address significant unmet needs, positioning us well to deliver sustainable leadership and profitable growth in health care.”
Worldwide Consumer sales of $14.9 billion for the full-year 2011 represented an increase of 2.0% over the prior year while worldwide pharmaceutical sales of $24.4 billion for the full-year 2011 represented an increase of 8.8% versus the prior year with an operational increase of 6.2% and a positive impact from currency of 2.6%. Domestic sales decreased by 1.1% and international sales increased by21.3%, which reflected an operational increase of 15.5% and a positive currency impact of 5.8%.
Sales results in the USA were negatively impacted by generic competition for LEVAQUIN® (levofloxacin), a treatment for bacterial infections, which was offset by the strong performance of recently launched products, the company said.
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