Cordis Corp., the stent-making operation of Johnson & Johnson (NYSE:JNJ), saw overall sales slip nearly 7 percent and stent sales drop 35.5 percent during the third quarter.
The New Brunswick, New Jersey-based medical products conglomerate said Cordis posted worldwide sales of $596 million during the three months ended Sept. 30, down 6.9 percent compared with $640 million during the same period last year. U.S. sales were $246 million, up 5.6 percent, but international sales dropped 14.0 percent to $350 million.
Drug-eluting stent sales, including Cordis Corp.’s flagship Cypher device, fell across the board during the quarter. DES sales in the U.S. were $47 million, down 11.3 percent, and reached $89 million overseas — down a whopping 43.7 percent. Johnson & Johnson attributed the declines to “continued competition in the drug-eluting stent market,” according to a press release.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Taken together, however, Johnson & Johnson’s medical device and diagnostics segment managed to eke out a small top-line increase, rising 1.3 percent to $5.92 billion, compared with $5.84 billion during Q3 2009.
Taken individually, however, the results were more of a mixed bag. JNJ’s DePuy subsidiary posted sales of $1.31 billion during the quarter, a 1.9 percent increase. But its diabetes care division saw sales drop 3.3 percent to $613 million, largely on a nearly 9 percent decline in international sales. The Ethicon segment posted $1.07 billion in revenues, up 5.2 percent, while the Ethicon Endo-Surgery division saw sales rise 2.8 percent to $1.14 billion. Ortho-clinical diagnostics was down 0.6 percent to $498 million for the quarter; the vision care segment was up 5.5 percent to $605 million.
Altogether, Johnson & Johnson posted Q3 2010 net earnings of $3.42 billion, or $1.23 per diluted share, on sales of $15.0 billion. That compares with net earnings of $3.35 billion, or $1.20 per diluted share, on sales of $15.08 billion during Q3 2009.
The company raised its earning guidance for the full year to between $4.70 and $4.80 per share, excluding special items.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
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