Last Updated Jul 14, 2009 2:32 PM EDT
In drugs, the company said:
... domestic sales decreased 16.4%; while international sales decreased 8.7%, which reflected an operational increase of 3.3% and a negative currency impact of 12.0%.But the "good" domestic news hides the bad news in J&J's pharma sector. Duragesic sales were off 20 percent, hurt by generics and controversy. Risperdal sales were more than halved for the same pair of reasons. (Risperdal Consta grew 1.5 percent to $348 million.)
On the bright side, Remicade sales were up 24.4 percent to $1.1 billion.
Among J&J's "major new pharmaceutical products": Prezisat was the biggest at only $140 million, up from $88 million -- which should give you an idea of how much J&J's new products -- such as Simponi -- will have to grow to replace lost revenue.
Meanwhile, J&J's policy of laying off reps -- it axed 900 earlier this year -- continues to pay off. The revenue yield on every $1 it spent on sales and marketing stayed above $3, at $3.18. The trend on both its marketing yield and its gross profit yield is up (see graph).