J&J: Inflationary Pressures ‘Here To Stay’ With Impact Likely Into 2023

 
• By Jessica Merrill
  
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Johnson & Johnson reported 3% sales growth in the second quarter, led by pharmaceuticals, which were positive financial results given persistent macroeconomic challenges and a currency headwind.

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J&J reported Q3 sales growth • Source: Shutterstock

Johnson & Johnson's pharmaceuticals business led the company's sales growth in the second quarter despite macroeconomic pressures like supply constraints, labor shortages and inflation that continue to make the business environment challenging. J&J's sales grew 3% to $24.02bn, beating analyst consensus estimates, but the company predicted that inflation will continue to be a pressure point for the remainder of the year and likely into 2023.

Currency was also a big headwind for the US-based company, due to the strengthening US dollar. Operationally, excluding currency exchange,...

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