Johnson & Johnson (JNJ) is in a rut, but at least it happens to be a very profitable rut. What's more, the company has a lot of a game-changing events underway or just on the horizon. Not only has there been a change at the top, but new drug launches, a major acquisition, and annualizing some very bad comparisons should make the business look pretty solid by the end of 2012.
For Now Though, It's Still A Rut
That said, J&J didn't blow anybody away with first quarter results. Revenue was basically flat (though up 1% in constant currency), as pharmaceuticals did alright (up more than 2% cc), devices did alright (up less than 1% cc), and consumer was not alright (down a bit in constant currency). All in all, it was a slightly disappointing topline result with a few weak spots that merit further inquiry.
Please read more here:
2012 Is Looking Like A Turning Point For J&J
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