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July 20, 2005
By: Jason Lawton
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Medical device and diagnostics sales rose 19.7% to $4.9 billion for New Brunswick, NJ-based Johnson & Johnson in the second quarter, helping the company post $12.8 billion in sales for the period that ended June 30. Additionally, the company announced that its acquisition of Guidant is likely to be delayed after the Indianapolis-based company had recalled thousands of defibrillators and pacemakers in recent months. However, J&J CFO Robert Darretta said his company remains “excited” about the merger. “Of particular note is the strong performance of each of our franchises in the medical devices and diagnostics segment as well as the overall strength of the results and consistent performance from our Consumer segment,” CEO William Weldon added. All of the company’s major medical device and diagnostics businesses performed well, including Cordis, DePuy, Ethicon, Ethicon Endo-Surgery, LifeScan and Ortho-Clinical. Despite its past problems, Cordis’ Cypher drug-eluting stent continued to post strong growth, the company reported.
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