Johnson & Johnson reported orthopedic sales in the U.S. were down 5.2 percent in the first quarter and all subspecialty lines reported drops as well due to the coronavirus.
As elective procedures were canceled around the world, the company's orthopedics business reported overall sales dropped 7.5 percent, with the COVID-19 pandemic impacting growth by about 750 basis points in the U.S. market. The coronavirus affected hip sales growth by 9.5 basis points and trauma by 400 basis points. COVID-19 affected the spine sales by around 750 basis points, according to Vice President of Investor Relations Chris DelOrefice.
However, adjusted numbers painted a brighter picture. "Total orthopedics growth, adjusting for this impact, was relatively consistent with our prior quarter performance, reflecting the continued execution of our innovation and commercial strategies aimed to improve performance," he said, as transcribed by Seeking Alpha.
It's unclear when elective orthopedic surgeries will be performed on a consistent basis in the U.S. When asked about which procedures will return the soonest, Chairman and CEO Alex Gorsky said he expects oncology and general surgery to return first. "We would expect there to be also certain areas in orthopedics, while elective, that can have a significant impact on mobility and overall standard of living to come back next," said Mr. Gorsky.