Medical Devices Fuel 9% Profit for Johnson & Johnson

Johnson & Johnson recorded higher-than-expected sales of its medical devices, consumer products and prescription medicines, triggering a second-quarter profit rise of 9%. Company sales rose 4.7% to to $13.4 billion, slightly higher than Wall Street expectations of $13.3 billion.
    The New Brunswick, NJ-based company reported that the medical devices and diagnostics segment had the biggest sales increase, 6%, to $5 billion with Acuvue contact lenses, the OneTouch Ultra blood glucose monitor and Cypher stents leading the charge.
    Global sales of prescription drugs rose 3% to $6 billion, led by its Risperdal treatment for schizophrenia, arthritis treatment Remicade, Topamax for epilepsy and Concerta for attention deficit hyperactivity disorder.
    “I think they definitely beat expectations,” said A.G. Edwards analyst Jan Wald, with drug sales and medical device sales about $300m and $500m higher, respectively, than forecasts.
    J&J’s planned $17 billion acquisition of rival Pfizer Inc.’s consumer health division  is expected to nearly double the size of J&J’s consumer health business and assure its position in the $70 billion market, according to company officials.