Johnson & Johnson (JNJ -1.25%) is one of the biggest drug makers on the planet, and thanks to a slate of highly successful new drug launches Johnson's sales are growing faster than they have in years.

But it's not all green-lights for Johnson's top-selling drugs. They face a number of challenges from new drugs from companies including Bristol-Myers (BMY -8.16%), AbbVie (ABBV -0.91%), AstraZeneca, Medivation, and Astellas.

Source: Johnson & Johnson

In the following slideshow, I fill you in on everything you should know about the impact of Johnson's top selling drugs on its second quarter earnings, and offer insight into the opportunities and challenges that lie ahead.