Online BusinessJohnson & Johnson Q2 profit dips to $3.2 bn
Consumer healthcare products maker Johnson & Johnson today reported a 3.6 per cent drop in profit at $3.20 billion for the three months ended June, mainly on account of overall fall in sales.
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The company had a profit of $3.32 billion in the second quarter of 2008, it said in a statement.
In the same quarter, sales declined to $15.23 billion as against $16.45 billion in the corresponding period a year ago.
"The second quarter of 2008 included an after-tax in-process research and development charge of $40 million," the statement said.
Sales in pharmaceutical segment plunged 13.3 per cent to $5.49 billion.
In the consumer segment, sales fell 4.5 per cent to $3.9 billion worldwide in the second quarter, while medical and diagnostics sales declined 3.1 per cent to $5.88 billion.
"I am proud of the accomplishments of our people in continuing to deliver very solid operational results in light of the significant impacts of patent expirations and the economic environment," Johnson & Johnson Chairman and Chief Executive Officer William C Weldon said.