Healthcare
Drug Manufacturers - General
$359.99B
131.9K
Key insights and themes extracted from this filing
Worldwide net sales increased 6.5% to $85.2 billion in 2023 compared to 1.6% in 2022. This growth was driven by both volume and price increases, with positive contributions from both Innovative Medicine and MedTech segments.
Consolidated earnings before provision for taxes on income decreased to 17.7% of sales in 2023 from 24.2% in 2022. This decline reflects increased cost of products sold and selling, marketing, and administrative expenses.
International sales growth was only 1.9% in 2023, negatively impacted by currency fluctuations. The impact of currency changes on sales varied by geographic region.