Johnson & Johnson (J&J) has reported a 2.3% increase in worldwide sales to $21.4 billion for the fiscal first quarter of 2024, compared to $20.9 billion in the same period last year. This growth includes a 3.9% operational growth and a 1.6% negative currency impact. U.S. sales rose by 7.8%, while international sales saw a 3.4% decrease, including a 0.3% operational decline and a 3.1% negative currency impact. The Innovative Medicine segment saw a 1.1% increase in sales to $13.6 billion, with operational growth of 2.5% offset by a 1.4% negative currency impact. The MedTech segment experienced a 4.5% increase in sales to $7.8 billion, with a 6.3% operational growth and a 1.8% negative currency impact. The company's earnings before taxes for the quarter were $3.7 billion, representing 17.4% of sales, a significant improvement from a loss of...Show More

Johnson & Johnson (J&J) has reported a 2.3% increase in worldwide sales to $21.4 billion for the fiscal first quarter of 2024, compared to $20.9 billion in the same period last year. This growth includes a 3.9% operational growth and a 1.6% negative currency impact. U.S. sales rose by 7.8%, while international sales saw a 3.4% decrease, including a 0.3% operational decline and a 3.1% negative currency impact. The Innovative Medicine segment saw a 1.1% increase in sales to $13.6 billion, with operational growth of 2.5% offset by a 1.4% negative currency impact. The MedTech segment experienced a 4.5% increase in sales to $7.8 billion, with a 6.3% operational growth and a 1.8% negative currency impact. The company's earnings before taxes for the quarter were $3.7 billion, representing 17.4% of sales, a significant improvement from a loss of $1.3 billion in the previous year. J&J's restructuring efforts in its Innovative Medicine and MedTech segments have led to pre-tax restructuring expenses of $144 million and $27 million, respectively, for the quarter. The company has also been involved in various patent infringement lawsuits and has entered into confidential settlement agreements in some cases. Additionally, J&J is cooperating with government investigations and inquiries, including those related to the 340B Drug Pricing Program and antitrust laws.