J&J Q2 Sales Marginally Increases

Net earnings and diluted earnings per share for the second quarter of 2010 were $3.4bn and $1.23, respectively.

J&J said that excluding the special item, net earnings for the current quarter were $3.4bn and diluted earnings per share were $1.21, representing increase of 5.4% and 5.2%, respectively, as compared to the same period in 2009.

J&J has updated its earnings guidance for full-year 2010 to $4.65 – $4.75 per share, which excludes the impact of special items.

J&J’s guidance now reflects the impact of the voluntary recalls announced earlier this year of certain over-the-counter medicines and the suspension of manufacturing at the McNeil Consumer Healthcare facility in Fort Washington, as well as unfavorable changes in foreign currency exchange rates.

William Weldon, chairman and CEO of J&J, said: “Our second-quarter results include strong growth in a number of our recently launched products which contributed to solid earnings.

“Remedial actions to address the product quality issues at McNeil Consumer Healthcare are ongoing and of high importance. At the same time, we continue to make significant investments in acquisitions, strategic partnerships and in advancing our pipeline, positioning us well for future growth.”