Johnson & Johnson (J&J) has reported a net income of $3.43bn, or $1.41 per diluted share, for the fourth quarter ended 31 December 2024, a 15% decline compared to $4.04bn, or $1.70 per diluted share for the respective quarter in 2023.
The US drugmaker’s net income for the fourth quarter of 2024 (Q4 2024) increased by 27% compared to $2.69bn for the third quarter of 2024 (Q3 2024).
J&J reported net sales of $22.5bn for Q4 2024, a 5.3% increase compared to $21.4bn for the same quarter in 2023, and unchanged compared to Q3 2024.
The pharmaceutical company reported an income before tax of $3.88bn for Q4 2024, a 19.5% decline compared to $4.82bn for the same quarter in 2023.
Johnson & Johnson chairman and CEO Joaquin Duato said: “2024 was a transformative year for Johnson & Johnson, marked by strong growth, an accelerating pipeline and industry-leading investments in innovation.
“As a healthcare company, with a disease-centric approach, we are improving the standard of care in a broad range of diseases with high unmet need, including multiple myeloma, lung cancer, inflammatory bowel disease, and heart failure.
“With our strong financial foundation, differentiated portfolio and robust pipeline, we are well positioned to sustain the high pace of growth and innovation that is the hallmark of Johnson & Johnson.”
J&J has reported a net income of $14.06bn, or $5.79 per diluted share, for the 12 months ended 31 December 2024, compared to $ 35.15bn, or $ 5.20 per diluted share, for the 12 months of 2023.
The pharmaceutical company reported net sales of $88.82bn for the full year 2024, a 4.3% rise compared to $85.15bn for the full year 2023.
J&J reported research and development expenses of $17.23bn for the full year 2024, a 14.2% increase compared to $15.08bn for the full year 2023.
The company reported a profit before tax of $16.68bn for the full year 2024, a 10.8% rise compared to $15.06bn for the full year 2023.
