J&J Releases Q2 Results

Johnson & Johnson today announced results for second-quarter 2020, with consumer health unit sales—home to Neutrogena and Aveeno—falling 3.4% to  $3.296 billion. 
 
Consumer health worldwide operational sales, excluding the net impact of acquisitions and divestitures, declined by 3.4% as results were negatively impacted by the COVID-19 pandemic most notably reflected in skin health and beauty care products, followed by women's health care products and international baby care products.  Partially offsetting this impact was growth in over-the-counter products including Tylenol analgesics; digestive health products and Zarbee’s Natuerals; and Listerine mouthwash in oral care products.  Both over-the-counter and oral care products were positively impacted by COVID-19.
 
Johnson & Johnson’s group sales fell  10.3% to $18.3 billon. The results were down, but not as far as some analysts had expected.
 
“Our second quarter results reflect the impact of COVID-19 and the enduring strength of our Pharmaceutical business, where we saw continued growth even in this environment,” said Alex Gorsky, chairman and CEO. “Thanks to the tireless work of our colleagues around the world and our broad range of capabilities, we continue to successfully navigate the external landscape, and we remain focused on advancing the development of a vaccine to help address this pandemic and save lives.”  Mr. Gorsky continued, “We are bringing together our best minds, our global footprint and our sophisticated supply chain technology to deliver on our commitment to provide the vaccine on a not-for-profit basis for emergency pandemic use, globally. We know the need is urgent, and every day we commit to doing our part to find a solution for the global good.”