Johnson & Johnson (NYSE:JNJ) 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 (NYSE:BMY), AbbVie (NYSE:ABBV), 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.

Todd Campbell is long Gilead, Medivation, and Portola. Todd owns E.B. Capital Markets, LLC. E.B. Capital's clients may have positions in the companies mentioned. Todd owns Gundalow Advisors, LLC. Gundalow's clients do not have positions in the companies mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.