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Earnings Calls In Brief

Johnson & Johnson’s mid-year Synthes purchase drives third-quarter revenue growth. Abbott spin-off on track. More news briefs.

Johnson & Johnson’s acquisition of orthopedic device maker Synthes Inc. in mid-June was the primary driver of the firm’s 10.8% operational sales growth in the third quarter over the year-ago period – to $17.1 billion, the firm reported Oct. 16. Synthes contributed 5.8% to that growth, net of the divestiture of J&J’s DePuy trauma business, J&J said. (See Also see "J&J Doubles Down On Orthopedics With Synthes Deal; Takes Lead In Trauma" - Medtech Insight, 2 May, 2011..) Excluding the impact of the deals, J&J’s operational growth rate was 5% – the firm’s best since Q1 of 2007, said J.P. Morgan analyst Michael Weinstein. “J&J is finally on the ascent, following a 2008-11 period in which revenue growth was essentially zero,” excluding the impact of acquisitions and currency exchange rates, Weinstein said. The acceleration in organic growth is due in part to new drug introductions and mitigation of past headwinds, he noted.

J&J’s Medical Devices and Diagnostics unit had operational sales growth of 1.4% for the quarter, before accounting for Synthes and the impact of foreign exchange rates. But this is “up...

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