Earnings Calls In Brief
This article was originally published in The Gray Sheet
Executive Summary
J&J sees limited impact from financial crisis: Johnson & Johnson Chief Financial Officer Dominic Caruso says only "small pockets" of J&J's business were impacted by the global economic crisis in the third quarter. During the firm's Oct. 14 earnings call, Caruso cited certain products for elective procedures in sports medicine and women's health, in addition to some consumer health products. "They are still growing, but just subsiding a little bit in growth," he explained. J&J's Ethicon and Ethicon Endo-Surgery surgical business units reported revenue growth of 8.6% and 13%, respectively, over the prior-year period. The firm's DePuy orthopedics business reported 10% growth. The only declining device unit was Cordis, which dropped 6.6% due to struggling drug-eluting stent sales amidst increasing competition in the market. Overall, J&J's device business revenue grew 8.8% to $5.7 billion in the third quarter
You may also be interested in...
Baxter’s Relaunch Of Recalled Infusion Pump Will Add $75 Mil. In ’08 Sales
Baxter expects a mid-year U.S. relaunch of previously recalled Colleague infusion pumps to generate $75 million in sales in 2008
Stryker Spine Putty Approval “Significantly” Delayed, Firm Says
FDA is requesting additional data to support Stryker's OP-1 Putty PMA, which could delay approval of the posterolateral lumbar spine fusion surgery indication until 2009, the firm says
Scrip M&A Podcast: Which Companies Could Be Acquired Next?
The editorial team from Scrip discusses the M&A potential of various emerging biopharmas, such as Viking, Verona, Altimmune, Xenon and Crinetics.