Johnson & Johnson announced second quarter 2014 financial results, including orthopedic sales from DePuy Synthes.
Overall the company's sales increased 9.1 percent over the same period last year and net earnings reached $4.3 billion. The growth was primarily due to its new drug Olysio. Here are five key notes on the report, focusing on the company's orthopedic and spine sales:
1. Johnson & Johnson is still dealing with cost associated with the 2012 acquisition of Synthes. The second quarter results included a charge for after-tax special items of around $400 million, primarily related to litigation accrual as well as integration and transaction costs related to the Synthes pick-up.
2. Second quarter orthopedic sales reached $2.4 billion, a 3.5 percent increase over the same period last year. The company's orthopedics segments continue as a leader in the worldwide market and DePuy Synthes is realizing revenue and cost savings from integration.
3. International orthopedic sales were $1.1 billion, a 5.8 percent increase over the same period last year. United States orthopedics sales reached $1.2 billion, a 1.6 percent increase over the previous year.
4. At the six months end, worldwide orthopedics sales reached $4.8 billion, a 2.5 percent increase over the same period last year. International sales were $2.3 billion, a 3.1 percent increase, and United States sales were $2.5 billion, a 2 percent increase over the same period last year.
5. DePuy Synthes recently partnered with Tissue Regeneration Systems to develop three-dimensional printing technologies. The agreement allows for potential opportunities in the future for a range of DePuy Synthes applications. The company also released the GLOBAL UNITE Anatomic Shoulder System and CORAIL revision hip system.
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