Johnson & Johnson

2Q Revenues: $16.5 billion (+9%)
2Q Earnings: $3.3 billion (+8%)
YTD Revenues: $32.6 billion (+8%)
YTD Earnings: $6.9 billion (+23%)

Comments: Pharmaceutical sales were $6.3 billion (+3%), driven by Topamax sales ($677 million up 17%), Velcade sales ($205 million up 63%), Risperdal Consta sales ($343 million up 23%), and Remicade sales ($886 million up 2%). Growth was negatively impacted by lower sales of anemia drug Procrit, down 14% to $652 million, due to a decline in the market, and Risperdal Oral sales, down 16% to $712 million, due to generic competition outside the U.S. Companywide international sales were $8.2 billion (+16%), while U.S. sales were $8.2 billion (+2%). Medical devices and diagnostics sales were up 12% to $6.1 billion and consumer sales were up 13% to $4.0 billion. In the quarter, Evolence was FDA-approved for the correction of moderate to deep facial wrinkles and folds and Concerta was approved for the treatment of ADHD in adults.