In many places around the U.S. and across the world, surgeons are canceling or postponing elective procedures to save resources for those treating COVID-19 patients and stem the spread of the virus. As a result, orthopedic companies across the board are seeing lower sales and adjusting their financial outlook.
Five things to know about Johnson & Johnson orthopedic sales:
1. U.S. orthopedics sales were down 5.2 percent to $1.2 billion for the first quarter, while international sales dropped 11 percent. Overall, orthopedic sales were 7.5 percent lower for the first quarter of 2020 than 2019, hitting $2 billion.
2. Hip sales dropped 6.7 percent overall to $337 million for the quarter. International hip sales were down 11.2 percent and U.S. sales dropped 3.6 percent quarter-over-quarter, hitting $206 million.
3. Worldwide knee sales were 7 percent lower in the first quarter of 2020 than 2019, dropping 4.2 percent in the U.S. and 11.4 percent internationally. The company reported $343 million in knee sales for the quarter overall.
4. Trauma sales in the U.S. were down 2.3 percent, hitting $207 million. Internationally, trauma sales dropped 8 percent and overall trauma sales hit $654 million, a 4.5 percent decrease.
5. Worldwide spine, sports and other sales were down 10.7 percent for the quarter, hitting $702 million. U.S. sales dropped 8.9 percent and international sales were down 13.3 percent.
More articles on orthopedic devices:
How COVID-19 has affected Medicrea — 6 full-year & quarterly insights
Zimmer Biomet temporarily limiting operations
Orthofix plans salary cuts, will borrow $100M to boost cash flow
