J&J said domestic sales increased 6.1% and international sales increased 19.9%, reflecting operational growth of 10.9% and a positive currency impact of 9.0%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 4.3%, domestic sales increased 1.3% and international sales increased 7.6%.
“We are pleased with the strong and consistent performance delivered by our colleagues around the world, demonstrated by our sales and EPS growth in the first quarter.” said Alex Gorsky, chairman and CEO. “Our pharmaceutical business continues to deliver robust growth and we are pleased with the improvement in our consumer business. In our medical devices businesses, we have areas of leadership and continue to make investments and portfolio choices to improve performance.”
J&J reported that worldwide consumer sales of $3.4 billion for the first quarter 2018 represented an increase of 5.3% versus the prior year, consisting of an operational increase of 1.3% and a positive impact from currency of 4.0%. Domestic sales increased 1.6%, international sales increased 8.2%, which reflected an operational increase of 1.2% and a positive currency impact of 7.0%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 2.0%, domestic sales increased 1.6% and international sales increased 2.3%.
Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by beauty products primarily Neutrogena, Aveeno and Japanese skin care brand Dr. Ci Labo, as well as international analgesics in over-the-counter products, partially offset by the negative impact of domestic baby care products.
According to Gorsky, US tax legislation passed late last year is creating the opportunity for J&J to “invest more than $30 billion in R&D and capital investments in the US over the next four years, which is an increase of 15%.”