Johnson & Johnson (J&J; NYSE: JNJ) has reported its financial results for the first quarter of 2024, announcing global sales of USD 21.4 billion, marking a 3.9% year-on-year (YOY) increase in operational terms. Both business segments performed well, with innovative medicines seeing a 2.5% YOY rise to USD 13.6 billion. The medical technology sector also showed resilience, growing by 6.3% YOY to USD 7.8 billion, despite the impact of China’s volume-based procurement (VBP) on energy and endocutters.
The company’s drug sales were driven by Darzalex (daratumumab) for multiple myeloma (MM), which saw a significant 21.0% YOY increase to USD 2.7 billion. Stelara (ustekinumab) for autoimmune diseases also performed well, with a 1.1% YOY increase to USD 2.5 billion. Invega Trinza/Trevicta (paliperidone) contributed USD 1.1 billion, growing by 2.2%. Tremfya (guselkumab) for plaque psoriasis jumped by 27.6% to USD 808 million, and Erleada (apalutamide) for prostate cancer climbed 28.4% to USD 689 million.
Geographically, J&J’s performance was robust across all regions. The United States, the company’s home market, contributed sales of USD 11.6 billion, reflecting a 7.8% YOY increase. Latin America and Canada together grew by 21.3% to USD 1.2 billion. The Asia-Pacific/Africa region showed a 5.0% increase, reaching USD 3.4 billion, while Europe experienced a 6.0% rise, with sales amounting to USD 5.1 billion. – Flcube.com
