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Coronary stent drives Johnson & Johnson to record profits

March 11, 2017

In addition, the European Medicines Evaluation Agency's Committee on Proprietary Medicinal Products issued a positive opinion to recommend approval under exceptional circumstances for VELCADE?? (bortezomib) for the treatment of patients with multiple myeloma. Under the terms of the co-development and commercialization agreement with Millenium Pharmaceuticals, Inc., the Company will commercialize VELCADE?? outside of the U.S., including Europe.

In March, the Company also announced that it had signed a definitive agreement to acquire Wyeth's St. Louis biopharmaceutical manufacturing facility. The transaction closed on April 9, 2004.

Worldwide Consumer segment sales of $2.0 billion for the first quarter represented an increase over the prior year of 14.3%, with operational growth of 8.7% and a positive impact from currency of 5.6%. Domestic sales increased 8.1%, while international sales increased 22.1% (9.6% from operations and 12.5% from currency).

Strong growth in Consumer sales were achieved by McNeil Nutritional's SPLENDA? sweetener; the skin care lines of NEUTROGENA?, RoC?, AVEENO? and CLEAN & CLEAR?, and wound care products.

In February, the Company announced that it had signed a definitive agreement to acquire Merck's 50 percent equity stake in the European non-prescription pharmaceuticals joint venture known as Johnson & Johnson MSD Europe. The acquisition was completed early in the second quarter and the joint venture companies have been renamed McNeil Europe. In addition, the Company also announced the strategic realignment of its sucralose agreements with Tate & Lyle PLC to better position sucralose and the SPLENDA? Brand for future global growth opportunities. Under the new agreements, McNeil Nutritionals retains ownership of the SPLENDA? Brand and has commercial responsibility for the worldwide SPLENDA? Brand retail and food service business. Tate & Lyle is the manufacturer and is responsible for worldwide food and beverage ingredient sales of sucralose.