Johnson & Johnson (J&J) reported a robust financial performance for the fiscal third quarter of 2024, with worldwide sales reaching $22.5 billion, marking a 5.2% increase from the previous year's quarter. The company's operational growth stood at 6.3%, despite a negative currency impact of 1.1%. U.S. sales contributed significantly with a 7.6% rise, while international sales grew by 2.2%. The Innovative Medicine segment was a key driver, with sales of $14.6 billion, up 4.9% year-on-year, and operational growth of 6.3%. The MedTech segment also showed strength, with sales of $7.9 billion, a 5.8% increase from the previous year. J&J's strategic focus on high-potential medicines led to the discontinuation of certain programs, resulting in a pre-tax restructuring expense of $0.1 billion for the fiscal nine...Show More

Johnson & Johnson (J&J) reported a robust financial performance for the fiscal third quarter of 2024, with worldwide sales reaching $22.5 billion, marking a 5.2% increase from the previous year's quarter. The company's operational growth stood at 6.3%, despite a negative currency impact of 1.1%. U.S. sales contributed significantly with a 7.6% rise, while international sales grew by 2.2%. The Innovative Medicine segment was a key driver, with sales of $14.6 billion, up 4.9% year-on-year, and operational growth of 6.3%. The MedTech segment also showed strength, with sales of $7.9 billion, a 5.8% increase from the previous year. J&J's strategic focus on high-potential medicines led to the discontinuation of certain programs, resulting in a pre-tax restructuring expense of $0.1 billion for the fiscal nine months of 2024. The company's future plans include completing the restructuring program of its Orthopaedics franchise by the end of fiscal year 2025, with estimated costs between $0.7 billion and $0.8 billion. J&J's commitment to innovation and market leadership is evident in its recent acquisition of Shockwave Medical, which contributed to the MedTech segment's growth. The company's financial health is further underscored by a strong cash position of $20.3 billion and a manageable debt level of $35.8 billion as of September 29, 2024.