but investors are looking behind it and that's what is pushing this Dow component down this morning. For example, JNJ says its topline growth would have been just 3.6% instead of 13% if it had not bought Pfizer's consumer health care business last year for $16.6 billion. JNJ is kind of a three-pronged hybrid: pharma, medical devices and consumer healthcare.
The consumer unit saw a 49% surge in sales in the second quarter. And it was that robust growth coupled with continuing cost-cutting at the company that drove the Q2 results. In the medical device unit, sales at Cordis which makes stents, U.S. sales plummeted 26% over the same time last year. That's the result of the long-term safety issues surrounding drug-coated stents and the study issued earlier this year showing old-fashioned, much cheaper heart drugs may work just as well, if not better, than stents.
On the plus side, on the conference call JNJ officials say the stent business decline looks like it might have stabilized in Q2. They said drug-coated stent market penetration is now sitting at around 65%. In other words, about 6 out of every 10 stents being used today are drug coated. That's down from 8 or 9 out of 10 during the same time last year. Officials also added that stent prices have also fallen about three percent.