Johnson & Johnson announced sales of $17.8 billion for the first quarter of 2017, an increase of 1.6% as compared to the first quarter of 2016.
Operational sales results increased 2.0% and the negative impact of currency was 0.4%. Domestic sales increased 0.6%. International sales increased 2.8%, reflecting operational growth of 3.6% and a negative currency impact of 0.8%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.2%, domestic sales decreased 0.7% and international sales increased 3.4%.
Net earnings and diluted earnings per share for the first quarter of 2017 were $4.4 billion and $1.61, respectively. First-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.4 billion. First-quarter 2016 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.2 billion. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.0 billion and adjusted diluted earnings per share were $1.83, representing increases of 3.8% and 5.8%, respectively, as compared to the same period in 2016. On an operational basis, adjusted diluted earnings per share also increased 7.5%.
Johnson & Johnson is now including the estimated impact of the Actelion transaction in its financial guidance. As such, Johnson & Johnson increased its sales guidance for the full-year 2017 to $75.4 billion to $76.1 billion. Additionally, Johnson & Johnson increased its adjusted earnings guidance for full-year 2017 to $7.00 - $7.15 per share.
During the quarter, Johnson & Johnson announced a definitive agreement to acquire Actelion Ltd. for approximately $30 billion. The public tender offer for Actelion has been declared successful based on the number of shares tendered and regulatory approval has been obtained in six of seven jurisdictions in which the company filed for such approval, with antitrust approval from the European Commission pending. The transaction is expected to close in the second quarter of 2017, subject to the satisfaction of remaining closing conditions.
During the quarter, the company completed the acquisition of Abbott Medical Optics, a wholly-owned subsidiary of Abbott and global leader in ophthalmic surgery, for approximately $4.3 billion.
Additionally, the acquisitions of Megadyne Medical Products, Inc. and Torax Medical Inc. were completed.