By: Laura Cooper and Matt Grossman
Johnson & Johnson Posts Higher Profit as Healthcare Demand Returns
Greater demand for medical devices, drugs and consumer-health products helped boost sales and profit for Johnson & Johnson in the latest quarter, a sign people are returning for healthcare services they deferred earlier in the pandemic.
Sales of J&J’s medical devices climbed 63% year over year, the company said Wednesday. Higher sales of the company’s skin-care and beauty products helped lift J&J’s consumer-health revenue by 13% compared with a year earlier.
The New Brunswick, N.J.-based company, a bellwether for the healthcare industry because its products span several categories, logged sales of $23.31 billion—a 27% increase year over year—and adjusted earnings of $2.48 a share.