NEW BRUNSWICK, N.J.—Johnson & Johnson (NYSE: JNJ) reported Tuesday that its sales in the  second quarter increased 3 percent to $24.0 billion, with operational growth of 8 percent and adjusted operational growth of 8.1 percent. Net earnings declined 23.3 percent to $4.8 billion in the quarter, compared with the year-ago net earnings of roughly $6.3 billion. In the MedTech segment, which includes vision care and contact lenses, J&J said worldwide adjusted operational sales grew 3.4 percent, driven primarily by contact lenses and surgical vision products in the vision care franchise, and electrophysiology products in the interventional solutions business, the company said.

Sales growth was partially offset by COVID-19 related mobility restrictions in certain regions, the company said.
In the vision care segment, worldwide sales rose 4.9 percent to $1.241 billion from $1.183 billion in the year-ago period. In the U.S. market, sales rose 6.2 percent to $496 million from $467 billion in last year’s second quarter.
In the contact lens segment, U.S. sales rose 6.6 percent to $374 million in the second quarter (compared with $352 million in last year’s second quarter). Worldwide sales of contact lenses rose 2.9 percent to $894 million on a “reported” basis, but the increase was 9.2 percent on an operational basis, which excludes the effect of translational currency.
“Our solid second quarter results across Johnson & Johnson reflect the strength and resilience of our company’s market leadership in the midst of macroeconomic challenges,” chief executive officer Joaquin Duato said in the announcement. “I am continually energized by the focus and passion of my Johnson & Johnson colleagues and their dedication toward delivering transformative health care solutions to patients and consumers around the world.”
The company’s pharmaceutical segment was the sales leader in the second quarter, with pharmaceutical worldwide adjusted operational sales rising 12.4 percent. The gain was driven by several of J&J’s key biologic drugs, according to the announcement.
Sales in the consumer health segment (the third of the three J&J business groups) saw an operational sales increase of 2.9 percent worldwide. The major contributors to growth included upper respiratory and analgesic products in the international market of the over-the-counter franchise as well as Imodium in digestive health products and Neutrogena in international skin health/beauty.
In addition, J&J said it is maintaining 2022 full-year guidance at midpoints for adjusted operational sales and adjusted operational earnings per share, with the “strengthening U.S. dollar impacting estimate for reported results.”