Johnson & Johnson on April 18 posted increases in total revenue and orthopedic sales during the first quarter of 2023.
Five notes:
1. Johnson & Johnson reported $24.7 billion in first quarter sales, a 5.6 percent increase year-over-year.
2. Orthopedic sales of $2.2 billion was a 2.6 percent increase compared to the same time in 2022.
3. Hip sales were $390 million, up slightly from $389 million in the first quarter of 2022. Knee sales grew 8.7 percent year-over-year with $368 million. Trauma sales rose 1.2 percent year-over-year with $757 million in sales.
4. The spine and sports medicine segment rose 2.4 percent year-over-year with $729 million.
5. Johnson & Johnson's MedTech business saw a 6.4 percent increase year-over-year in sales, largely driven by electrophysiology products, contect lenses, knee products and wound closure products.