Johnson & Johnson’s medical device business posted decreased sales for both the fourth quarter and 2014, on top of the effects of the strong dollar that pushed down sales for the healthcare giant.
The New Brunswick, N.J.-based healthcare giant reported worldwide medical devices sales of $27.5 billion for the full-year 2014 represented a decrease of 3.4 percent versus the prior year consisting of an operational decrease of 1.6 percent and a negative currency impact of 1.8 percent.
Domestic sales decreased 4.3 percent; international sales decreased 2.7 percent, which reflected an operational increase of 0.5 percent and a negative currency impact of 3.2 percent.
Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.6 percent, domestic sales decreased 0.6 percent and international sales increased 3.5 percent. The divestiture of the Ortho-Clinical Diagnostics business was completed in June.
In prepared remarks, Chairman and CEO Alex Gorsky said: “2014 was a strong year for Johnson & Johnson, as we delivered solid financial results while continuing to make investments to accelerate growth for the long term. We have built significant momentum in our pharmaceutical business, are realizing the benefits of innovation, scale and breadth in our medical devices business and are continuing our market leadership with iconic brands in our consumer business.”
Primary contributors to operational growth were our broad portfolio of orthopedic products; Biosense Webster’s electrophysiology products in the Cardiovascular Care business; and bio-surgicals and international sales of energy products in the Specialty Surgery business. During the quarter, the FDA approved the Animas® Vibe™ insulin pump and Continuous Glucose Monitoring system for the management of insulin-requiring diabetes in adults ages 18 and older.