Sector: Healthcare|Industry: Drug Manufacturers - General|Market Cap: $359.99B|Employees: 131.9K
Johnson & Johnson is a healthcare company that manufactures and sells a wide range of products, including pharmaceuticals, medical devices, and consumer healthcare products. Its primary revenue streams are derived from sales to retailers, wholesalers, distributors, hospitals, and healthcare professionals. The company holds a leading market position in many of its product categories due to its strong brand recognition, extensive research and development capabilities, and global reach.
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.