Johnson and Johnson hails successful third quarter

Johnson and Johnson has published its financial report for the third quarter of 2011, hailing its solid performance following the successful launch of various new products.

The healthcare company posted a $16 billion (10.19 billion pounds) sales total for the three-month period, a year-on-year increase of 6.8 percent, which was driven by the firm's success in international markets.

Consumer health sales accounted for $3.7 billion of this total, with the division seeing growth of 4.9 percent as it prepares for the complete acquisition of the Johnson and Johnson-Merck Consumer Pharmaceuticals business in the US.

Meanwhile, the firm's pharmaceuticals and medical device segments also saw an improved performance, with several new products having helped to drive this.

William Weldon, chairman and chief executive officer of Johnson and Johnson, said: "As we near the completion of our 125th year in business, our people continue to deliver new products, innovative pipelines and expand our global presence."

This comes after the firm broadened its business scope further last month with the acquisition of medical technology firm SterilMed.