Johnson & Johnson has posted small growth of 3 per cent in net sales during the third quarter ended September 2013 to $17.6 billion from $17.1 billion in the similar quarter of last year. Its net profit remained almost stagnant at $2,982 million as compared to $2,968 million. Its domestic sales increased by 1.7 per cent and international sales moved up by 4.2 per cent. Its diluted earnings per share for the third quarter worked out to $1.04.

Third quarter net profits included special items of approximately $0.9 billion, primarily related to an increase in the accrual for litigation expenses, in-process research and development expenses, and integration and transaction costs related to the acquisition of Synthes, Inc.

Its worldwide pharmaceutical sales increased by 9.9 per cent to $7 billion for the third quarter. The domestic sales from pharmaceutical division moved up by 7.9 per cent and international sales increased by 12 per cent. Primary contributors to operational sales growth were Invega Sustenna/Xeplion, Remicade and Simponi, Stelara, Velcade, Prezista and sales of new products. The sales of medical devices and diagnostics declined by 2 per cent to $6.9 billion in the third quarter of 2013.

Alex Gorsky, chairman and CEO, said, “Our third-quarter results reflect the solid, demonstrable results in achieving our near-term priorities while also advancing our longer term strategic growth drivers. Our key products and successful new product launches delivered strong growth. We continue to progress our pipelines with a number of regulatory approvals, the submission of new drug application, and execution of strategic collaborations. Our investments further strengthen our ability to deliver sustainable growth and bring meaningful innovations to patients and consumers.”

Johnson has increased its earnings guidance for full-year 2013 to $5.44 – 5.49 per share. Its guidance excludes the impact of special items.

For the nine months ended September 2013, Johnson's net sales increased by 6.6 per cent to $53 billion from $49,7 billion in the similar period of last year. Its net profit went up by 24.5 per cent to $10.3 billion from $8.3 billion.