Johnson & Johnson Braces for First Revenue Drop in 76 Years

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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--A major force in the life sciences industry, Johnson & Johnson (NYSE:JNJ) (New Brunswick, New Jersey) is considered a "one-stop shop" as its 250-plus operating companies develop, manufacture and distribute everything from Band-Aids to life-saving drugs. The company took a little bruising itself, closing out 4Q08 with $15.1 billion in revenue, a 5% decline from the same quarter in 2007. The company is expecting another decline in fiscal year 2009, with annual sales forecast between $61 billion and $62 billion. This would be a drop from the 2008 figure of $63.7 billion, which in turn was an increase of 4.3% from the $61.7 billion of sales in 2007.

Like most of its brethren in the industry, even when times are bad, they are relatively good, expecially compared to other markets. Johnson and Johnson realized a 14% rise in 2008 with net earnings of $12.95 billion, compared to the 2007 figure of $10.58 billion. With the announcement, William Weldon, chairman and CEO of Johnson & Johnson, said, "I am extremely proud of Johnson & Johnson's accomplishments in 2008 and the way our people met our commitments. We delivered solid earnings growth and made significant progress in our research pipelines while continuing to invest in the future growth of our business. I am confident that we are well positioned for continued leadership and growth in healthcare."

As part of our Pharmaceutical Tracker - Online Database, Industrial Info is tracking six active projects worth $189 million of Johnson & Johnson and its subsidiaries. The project mix includes everything from the creation of a new Center of Excellence for Research and Development in Spring House, New Jersey, to the closing of an over-the-counter pharmaceutical plant in Mountain View, California.

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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.