NEW BRUNSWICK, N.J.,
April 14, 2020 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced results
for first-quarter 2020. The Company also announced earlier today
that its Board of Directors declared a 6.3% increase in the
quarterly dividend rate, from $0.95
per share to $1.01 per share.
At the new rate, the indicated dividend on an annual basis is
$4.04 per share compared to the
previous rate of $3.80 per share.
"With Johnson & Johnson's century-plus history of leading in
times of great challenge, we are mobilizing our resources across
the Company in the fight against the COVID-19 pandemic," said
Alex Gorsky, Chairman and Chief
Executive Officer. "Johnson & Johnson is built for times like
this, and we are leveraging our scientific expertise, operational
scale and financial strength in the effort to advance the work on
our lead COVID-19 vaccine candidate. We are committed to beginning
production at risk imminently and bringing an affordable and
accessible vaccine to the public on a not-for-profit basis for
emergency pandemic use."
Mr. Gorsky continued, "I am both proud and amazed at the level
of dedication that I have witnessed from our more than 132,000
employees as we have focused on delivering on our commitments and
responsibilities to the patients and consumers we serve. Our strong
performance in the first quarter reflects the efforts of our teams
around the world and the sustainability of our business model.
Today, our Board of Directors approved an increase in our quarterly
dividend for the 58th consecutive year, underscoring our commitment
to delivering value for our shareholders and the confidence we have
in our business now and in the future."
OVERALL FINANCIAL RESULTS:
|
|
|
|
|
FIRST
QUARTER
|
|
($ in Millions,
except EPS)
|
2020
|
2019
|
%
Change
|
Reported
Sales
|
$
20,691
|
$
20,021
|
3.3%
|
Net
Earnings
|
5,796
|
3,749
|
54.6%
|
EPS
(diluted)
|
$
2.17
|
$
1.39
|
56.1%
|
|
|
|
|
Non-GAAP*
|
FIRST
QUARTER
|
|
($ in Millions,
except EPS)
|
2020
|
2019
|
%
Change
|
Operational
Sales1,2
|
n/a
|
n/a
|
4.8%
|
Adjusted
Operational Sales1,3
|
n/a
|
n/a
|
5.6%
|
Adjusted Net
Earnings1,4
|
6,154
|
5,661
|
8.7%
|
Adjusted EPS
(diluted)1,4
|
$
2.30
|
$
2.10
|
9.5%
|
1 Non-GAAP financial measure; refer
to reconciliations of non-GAAP financial measures included in
accompanying schedules
|
2 Excludes the impact of translational
currency
|
3 Excludes the net impact of acquisitions and
divestitures and translational currency
|
4
Excludes intangible amortization expense and special
items
|
REGIONAL SALES RESULTS:
|
FIRST
QUARTER
|
%
Change
|
($ in
Millions)
|
2020
|
2019
|
Reported
|
Operational1,2
|
Currency
|
Adjusted
Operational1,3
|
U.S.
|
$
10,699
|
$
10,129
|
5.6%
|
5.6
|
-
|
6.7
|
International
|
9,992
|
9,892
|
1.0%
|
4.0
|
(3.0)
|
4.5
|
Worldwide
|
$
20,691
|
$
20,021
|
3.3%
|
4.8
|
(1.5)
|
5.6
|
1 Non-GAAP financial measure; refer
to reconciliations of non-GAAP financial measures included in
accompanying schedules
|
2 Excludes the impact of
translational currency
|
3 Excludes the net impact of
acquisitions and divestitures and translational currency
|
Note: values may have
been rounded
|
SEGMENT SALES RESULTS:
|
FIRST
QUARTER
|
%
Change
|
($ in
Millions)
|
2020
|
2019
|
Reported
|
Operational1,2
|
Currency
|
Adjusted
Operational1,3
|
Consumer
Health
|
$
3,625
|
$
3,318
|
9.2%
|
11.3
|
(2.1)
|
11.0
|
Pharmaceutical
|
11,134
|
10,244
|
8.7%
|
10.1
|
(1.4)
|
10.2
|
Medical
Devices
|
5,932
|
6,459
|
(8.2)%
|
(6.9)
|
(1.3)
|
(4.8)
|
Worldwide
|
$
20,691
|
$
20,021
|
3.3%
|
4.8
|
(1.5)
|
5.6
|
1 Non-GAAP financial measure; refer
to reconciliations of non-GAAP financial measures included in
accompanying schedules
|
2 Excludes the impact of
translational currency
|
3 Excludes the net impact of
acquisitions and divestitures and translational currency
|
Note: values may have
been rounded
|
SEGMENT COMMENTARY:
Consumer Health
Consumer Health worldwide operational
sales, excluding the net impact of acquisitions and divestitures,
grew 11.0%* driven primarily by over-the-counter products including
TYLENOL and MOTRIN analgesics; upper respiratory products including
ZYRTEC; digestive health products and ZARBEE'S NATURALS. Other
contributors to growth were LISTERINE mouthwash in oral care
products; NEUTROGENA and AVEENO in skin health/beauty products, as
well as STAYFREE and o.b. in international women's health. Consumer
Health results across the majority of franchises were positively
impacted by the increased demand related to the COVID-19
pandemic.
Pharmaceutical
Pharmaceutical worldwide operational
sales, excluding the net impact of acquisitions and divestitures,
grew 10.2%* driven by STELARA (ustekinumab), a biologic for the
treatment of a number of immune-mediated inflammatory
diseases, DARZALEX (daratumumab), for the treatment of multiple
myeloma, IMBRUVICA (ibrutinib), an oral, once-daily therapy
approved for use in treating certain B-cell malignancies, a type of
blood or lymph node cancer, INVEGA SUSTENNA/XEPLION/INVEGA
TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable
atypical antipsychotics for the treatment of schizophrenia in
adults, ERLEADA (apalutamide), a next-generation androgen receptor
inhibitor for the treatment of patients with prostate cancer,
OPSUMIT (macitentan), an oral endothelin receptor antagonist
indicated for the treatment of pulmonary arterial hypertension to
delay disease progression, TREMFYA (guselkumab), a biologic for the
treatment of adults living with moderate to severe plaque
psoriasis, and PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA for the
treatment of human immunodeficiency virus type 1 (HIV-1) infection.
This growth was partially offset by biosimilar and generic
competition, with declines primarily in international VELCADE
(bortezomib), a proteasome inhibitor for the treatment of multiple
myeloma, REMICADE (infliximab), a biologic approved for the
treatment of a number of immune-mediated inflammatory diseases, and
PROCRIT (epoetin alfa), a treatment for chemotherapy-induced anemia
and patients with chronic kidney disease.
Medical Devices
Medical Devices worldwide operational
sales, excluding the net impact of acquisitions and divestitures,
declined by 4.8%* driven by the estimated net negative impact of
the COVID-19 pandemic and the associated deferral of medical
procedures to our Surgery, Orthopaedics, Interventional Solutions
and Vision businesses.
NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
The
information contained in this section should be read in conjunction
with Johnson & Johnson's other disclosures filed with the
Securities and Exchange Commission, including its Current Reports
on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on
Form 10-K. Copies of these filings are available online at
www.sec.gov, www.jnj.com or on request from Johnson & Johnson.
The reader is also encouraged to review all other news releases
available online in the Investors section of the Company's website
at news releases.
Regulatory
Approvals
|
ERLEADA (apalutamide)
- European Commission (EC) Approves Expanded Use for Treatment of
Patients with Metastatic Hormone-Sensitive Prostate
Cancer
|
(press
release)
|
STELARA (ustekinumab)
- EC Approves Expanded Use for Treatment of Pediatric Patients With
Moderate To Severe Plaque Psoriasis
|
(press
release)
|
Regulatory
Submissions
|
Ponesimod –
Submission of New Drug Applications to the U.S. Food and Drug
Administration (FDA) and European Marketing Authorization for
Treatment of Adults with Relapsing Multiple Sclerosis
|
(press
release)
(press
release)
|
DARZALEX
(daratumumab) - Submission to U.S. FDA for Combination with
carfilzomib and dexamethasone (DKd) For Patients with
Relapsed/Refractory Multiple Myeloma
|
(press
release)
|
Other
|
Lead Vaccine
Candidate for COVID-19; Landmark New Partnership with U.S.
Department of Health & Human Services; and Commitment to Supply
One Billion Vaccines Worldwide for Emergency Pandemic Use;
Announced
|
(press
release)
|
XARELTO (rivaroxaban)
-Landmark Phase 3 VOYAGER PAD Study of XARELTO Plus Aspirin Shows
Significant Benefit in Patients with Symptomatic Peripheral Artery
Disease (PAD) after Lower-Extremity Revascularization
|
(press
release)
|
Rilpivirine And
Cabotegravir Results of Phase 3 FLARE Study Demonstrate the Safety
and Efficacy of Long-Acting Injectable HIV Treatment Regimen
through 96 Weeks
|
(press
release)
|
Rilpivirine and
Cabotegravir 48-week Results of Phase 3b ATLAS-2M Study Demonstrate
the Safety and Efficacy of Long-Acting Injectable HIV Treatment
Administered Every Two Months
|
(press
release)
|
JNJ-6372 Granted U.S.
FDA Breakthrough Therapy Designation for the Treatment of Non-Small
Cell Lung Cancer
|
(press
release)
|
RPGR Gene Therapy
Granted European Medicines Agency PRIME and Advanced Therapy
Medicinal Product Designations for X-Linked Retinitis
Pigmentosa
|
(press
release)
|
HEARTLINE launched,
the First-of-its-Kind, Virtual Study Designed to Explore if a New
iPhone® App and Apple Watch® Can Help Reduce
the Risk of Stroke1
|
(press
release)
|
1 iPhone and Apple Watch are
trademarks of their respective owners
|
FULL-YEAR 2020 GUIDANCE:
Johnson & Johnson does not provide GAAP financial measures
on a forward-looking basis because the Company is unable to predict
with reasonable certainty the ultimate outcome of legal
proceedings, unusual gains and losses, acquisition-related expenses
and purchase accounting fair value adjustments without unreasonable
effort. These items are uncertain, depend on various factors, and
could be material to Johnson & Johnson's results computed in
accordance with GAAP.
The impact of COVID-19, inclusive of the related investments the
Company is making to combat the pandemic, is included in the
guidance below.
|
April 2020
|
January
2020
|
($ in Billions,
except EPS)
|
|
|
Adjusted Operational
Sales1,2
Change vs. Prior
Year
|
(3.0%) -
0.5%
|
5.0% -
6.0%
|
Operational
Sales2
Change vs. Prior
Year
|
$79.2 to
$82.2
(3.5%) -
0.0%
|
$85.8 to
$86.6
4.5% -
5.5%
|
Estimated Reported
Sales3
Change vs. Prior
Year
|
$77.5 to
$80.5
(5.5%) -
(2.0%)
|
$85.4 to
$86.2
4.0% -
5.0%
|
|
|
|
Adjusted Operational
EPS (Diluted)2,4
Change vs. Prior
Year
|
$7.65 to
$8.05
(11.9%) -
(7.3%)
|
$9.00 to
$9.15
3.7% -
5.4%
|
Adjusted EPS
(Diluted)3,4
Change vs. Prior
Year
|
$7.50 to
$7.90
(13.6%) -
(9.0%)
|
$8.95 to
$9.10
3.1% -
4.8%
|
1 Non-GAAP financial
measure; excludes the net impact of acquisitions and
divestitures
|
2 Non-GAAP financial measure;
excludes the impact of translational currency
|
3 Calculated using Euro Average Rate:
April 2020 = $1.09 Euro Average Rate: January 2020 = $1.11
(Illustrative purposes only)
|
4
Non-GAAP financial measure; excludes intangible amortization
expense and special items
|
Other modeling considerations will be provided on the
webcast.
WEBCAST INFORMATION:
Johnson & Johnson will
conduct a conference call with investors to discuss this earnings
release today at 8:30 a.m., Eastern
Time. A simultaneous webcast of the call for investors and
other interested parties may be accessed by visiting the Johnson
& Johnson website. A replay and podcast will be available
approximately two hours after the live webcast in the Investors
section of the Company's website at
events-and-presentations.
ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson,
we believe good health is the foundation of vibrant lives, thriving
communities and forward progress. That's why for more than 130
years, we have aimed to keep people well at every age and every
stage of life. Today, as the world's largest and most broadly-based
health care company, we are committed to using our reach and size
for good. We strive to improve access and affordability, create
healthier communities, and put a healthy mind, body and environment
within reach of everyone, everywhere. We are blending our heart,
science and ingenuity to profoundly change the trajectory of health
for humanity.
NON-GAAP FINANCIAL MEASURES:
*Operational sales growth
excluding the impact of translational currency, adjusted
operational sales growth excluding the net impact of acquisitions
and divestitures and translational currency, as well as adjusted
net earnings, adjusted diluted earnings per share and adjusted
operational diluted earnings per share excluding after-tax
intangible amortization expense and special items, are non-GAAP
financial measures and should not be considered replacements for,
and should be read together with, the most comparable GAAP
financial measures. Except for guidance measures, reconciliations
of these non-GAAP financial measures to the most directly
comparable GAAP financial measures can be found in the accompanying
financial schedules of the earnings release and the Investors
section of the Company's website at quarterly-results.
Copies of the financial schedules accompanying this earnings
release are available on the Company's website at
quarterly-results. These schedules include supplementary sales
data, a condensed consolidated statement of earnings,
reconciliations of non-GAAP financial measures, and sales of key
products/franchises. Additional information on Johnson &
Johnson, including adjusted income before tax by segment, a
pharmaceutical pipeline of selected compounds in late stage
development and a copy of today's earnings call presentation can
also be found in the Investors section of the Company's website at
quarterly-results.
NOTE TO INVESTORS CONCERNING FORWARD-LOOKING
STATEMENTS:
This press release contains "forward-looking
statements" as defined in the Private Securities Litigation Reform
Act of 1995 regarding, among other things: future operating
and financial performance, product development, market position and
business strategy. The reader is cautioned not to rely on these
forward-looking statements. These statements are based on current
expectations of future events. If underlying assumptions prove
inaccurate or known or unknown risks or uncertainties materialize,
actual results could vary materially from the expectations and
projections of Johnson & Johnson. Risks and uncertainties
include, but are not limited to: risks related to the impact of the
COVID-19 global pandemic, such as the scope and duration of the
outbreak, government actions and restrictive measures implemented
in response, material delays and cancellations of medical
procedures, supply chain disruptions and other impacts to the
business, or on the Company's ability to execute business
continuity plans, as a result of the COVID-19 pandemic, economic
factors, such as interest rate and currency exchange rate
fluctuations; competition, including technological advances, new
products and patents attained by competitors; challenges inherent
in new product research and development, including uncertainty of
clinical success and obtaining regulatory approvals; uncertainty of
commercial success for new and existing products; challenges to
patents; the impact of patent expirations; the ability of the
Company to successfully execute strategic plans; the impact of
business combinations and divestitures; manufacturing difficulties
or delays, internally or within the supply chain; product efficacy
or safety concerns resulting in product recalls or regulatory
action; significant adverse litigation or government action,
including related to product liability claims; changes to
applicable laws and regulations, including tax laws and global
health care reforms; trends toward health care cost containment;
changes in behavior and spending patterns of purchasers of health
care products and services; financial instability of international
economies and legal systems and sovereign risk; increased scrutiny
of the health care industry by government agencies. A further list
and descriptions of these risks, uncertainties and other factors
can be found in Johnson & Johnson's Annual Report on Form 10-K
for the fiscal year ended December 29,
2019, including in the sections captioned "Cautionary Note
Regarding Forward-Looking Statements" and "Item 1A. Risk Factors,"
in the Company's most recently filed Quarterly Report on Form 10-Q
and the Company's subsequent filings with the Securities and
Exchange Commission. Copies of these filings are available online
at www.sec.gov, www.jnj.com or on request from Johnson &
Johnson. Any forward-looking statement made in this release speaks
only as of the date of this release. Johnson & Johnson does not
undertake to update any forward-looking statement as a result of
new information or future events or developments.
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
Percent
Change
|
|
|
2020
|
|
2019
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
Health
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$
1,740
|
|
1,438
|
|
21.0
|
%
|
21.0
|
|
-
|
International
|
|
1,885
|
|
1,880
|
|
0.3
|
|
3.9
|
|
(3.6)
|
|
|
3,625
|
|
3,318
|
|
9.2
|
|
11.3
|
|
(2.1)
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
6,061
|
|
5,582
|
|
8.6
|
|
8.6
|
|
-
|
International
|
|
5,073
|
|
4,662
|
|
8.8
|
|
12.0
|
|
(3.2)
|
|
|
11,134
|
|
10,244
|
|
8.7
|
|
10.1
|
|
(1.4)
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
2,898
|
|
3,109
|
|
(6.8)
|
|
(6.8)
|
|
-
|
International
|
|
3,034
|
|
3,350
|
|
(9.4)
|
|
(6.9)
|
|
(2.5)
|
|
|
5,932
|
|
6,459
|
|
(8.2)
|
|
(6.9)
|
|
(1.3)
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
10,699
|
|
10,129
|
|
5.6
|
|
5.6
|
|
-
|
International
|
|
9,992
|
|
9,892
|
|
1.0
|
|
4.0
|
|
(3.0)
|
Worldwide
|
|
$
20,691
|
|
20,021
|
|
3.3
|
%
|
4.8
|
|
(1.5)
|
|
|
|
|
|
|
|
|
|
|
|
Note:
Percentages have been calculated using actual, non-rounded figures
and, therefore, may not recalculate precisely.
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
FIRST
QUARTER
|
|
|
|
|
|
Percent
Change
|
|
2020
|
|
2019
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
10,699
|
|
10,129
|
|
5.6
|
%
|
5.6
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Europe
|
4,827
|
|
4,609
|
|
4.7
|
|
7.5
|
|
(2.8)
|
Western Hemisphere
excluding U.S.
|
1,502
|
|
1,503
|
|
(0.1)
|
|
8.5
|
|
(8.6)
|
Asia-Pacific,
Africa
|
3,663
|
|
3,780
|
|
(3.1)
|
|
(1.9)
|
|
(1.2)
|
International
|
9,992
|
|
9,892
|
|
1.0
|
|
4.0
|
|
(3.0)
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
$
20,691
|
|
20,021
|
|
3.3
|
%
|
4.8
|
|
(1.5)
|
|
|
|
|
|
|
|
|
|
|
Note:
Percentages have been calculated using actual, non-rounded figures
and, therefore, may not recalculate precisely.
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
FIRST
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
2019
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
20,691
|
|
100.0
|
|
$
20,021
|
|
100.0
|
|
3.3
|
Cost of products
sold
|
7,062
|
|
34.1
|
|
6,615
|
|
33.0
|
|
6.8
|
Gross
Profit
|
13,629
|
|
65.9
|
|
13,406
|
|
67.0
|
|
1.7
|
Selling, marketing
and administrative expenses
|
5,203
|
|
25.1
|
|
5,219
|
|
26.1
|
|
(0.3)
|
Research and
development expense
|
2,580
|
|
12.5
|
|
2,858
|
|
14.3
|
|
(9.7)
|
In-process
research and development
|
-
|
|
-
|
|
890
|
|
4.4
|
|
|
Interest (income)
expense, net
|
(42)
|
|
(0.2)
|
|
3
|
|
0.0
|
|
|
Other (income)
expense, net
|
(679)
|
|
(3.3)
|
|
(22)
|
|
(0.1)
|
|
|
Restructuring
|
58
|
|
0.3
|
|
36
|
|
0.2
|
|
|
Earnings before
provision for taxes on income
|
6,509
|
|
31.5
|
|
4,422
|
|
22.1
|
|
47.2
|
Provision for
taxes on income
|
713
|
|
3.5
|
|
673
|
|
3.4
|
|
5.9
|
Net
earnings
|
5,796
|
|
28.0
|
|
3,749
|
|
18.7
|
|
54.6
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
2.17
|
|
|
|
$
1.39
|
|
|
|
56.1
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,671.0
|
|
|
|
2,698.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
11.0
|
%
|
|
|
15.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
7,244
|
|
35.0
|
|
$
6,867
|
|
34.3
|
|
5.5
|
Net
earnings
|
$
6,154
|
|
29.7
|
|
$
5,661
|
|
28.3
|
|
8.7
|
Net earnings per
share (Diluted)
|
$
2.30
|
|
|
|
$
2.10
|
|
|
|
9.5
|
Effective tax
rate
|
15.0
|
%
|
|
|
17.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Quarter
|
|
(Dollars in Millions
Except Per Share Data)
|
|
2020
|
|
2019
|
|
Net Earnings, after
tax- as reported
|
|
$5,796
|
|
$3,749
|
|
|
|
|
|
|
|
Pre-tax
Adjustments
|
|
|
|
|
|
Intangible Asset
Amortization expense
|
|
1,118
|
|
1,130
|
|
Litigation
expense
|
|
120
|
|
423
|
|
IPR&D
|
|
-
|
|
890
|
|
Restructuring
related
|
|
118
|
|
90
|
|
Acquisition and
Integration related ¹
|
|
(962)
|
|
67
|
|
Unrealized
(gains)/losses on securities
|
|
327
|
|
(158)
|
|
Medical Device
Regulation2
|
|
14
|
|
-
|
|
Other
|
|
-
|
|
3
|
|
|
|
|
|
|
|
Tax
Adjustments
|
|
|
|
|
|
Tax impact on special
item adjustments 3
|
|
(267)
|
|
(533)
|
|
Tax legislation and
related impacts
|
|
(110)
|
|
-
|
|
Adjusted Net
Earnings, after tax
|
|
$6,154
|
|
$5,661
|
|
Average shares
outstanding (Diluted)
|
|
2,671.0
|
|
2,698.8
|
|
Adjusted net earnings
per share (Diluted)
|
|
$2.30
|
|
$2.10
|
|
Operational adjusted
net earnings per share (Diluted)
|
|
$2.32
|
|
|
|
|
|
|
|
|
|
Notes:
|
|
|
|
|
1
|
Acquisition and
integration related costs for the first quarter of 2020 primarily
includes a $983M Contingent Consideration reversal related to the
timing of certain developmental milestones associated with the
Auris Health acquisition.
|
|
|
|
2
|
European Medical
Device Regulation (MDR) costs represent one-time compliance costs
for the Company's previously registered products. MDR is a
replacement of the existing European Medical Devices Directive
regulatory framework, and manufacturers of currently marketed
medical devices are required to comply with EU MDR beginning in May
2021. The Company considers the adoption of EU MDR to be a
significant one-time regulatory change and is not indicative of
on-going operations. The Company has excluded only external
third-party regulatory and consulting costs from its Medical
Devices operating segments' measures of profit and loss used for
making operating decisions and assessing performance.
|
|
|
|
|
|
|
|
|
|
|
|
|
3
|
The tax impact
related to special item adjustments reflects the current and
deferred income taxes associated with the above pre-tax special
items in arriving at adjusted earnings.
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Operational Sales Growth
|
FIRST
QUARTER 2020 ACTUAL vs. 2019 ACTUAL
|
|
Segments
|
|
|
Consumer
Health
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
WW As
Reported
|
|
9.2%
|
|
8.7%
|
|
(8.2)%
|
|
3.3%
|
U.S.
|
|
21.0%
|
|
8.6%
|
|
(6.8)%
|
|
5.6%
|
International
|
|
0.3%
|
|
8.8%
|
|
(9.4)%
|
|
1.0%
|
|
|
|
|
|
|
|
|
|
WW
Currency
|
|
(2.1)
|
|
(1.4)
|
|
(1.3)
|
|
(1.5)
|
U.S.
|
|
-
|
|
-
|
|
-
|
|
-
|
International
|
|
(3.6)
|
|
(3.2)
|
|
(2.5)
|
|
(3.0)
|
|
|
|
|
|
|
|
|
|
WW
Operational
|
|
11.3%
|
|
10.1%
|
|
(6.9)%
|
|
4.8%
|
U.S.
|
|
21.0%
|
|
8.6%
|
|
(6.8)%
|
|
5.6%
|
International
|
|
3.9%
|
|
12.0%
|
|
(6.9)%
|
|
4.0%
|
|
|
|
|
|
|
|
|
|
Skin Health /
Beauty
|
|
|
|
|
|
|
|
|
Dr. Ci Labo -
Japan
|
|
(0.4)
|
|
|
|
|
|
(0.1)
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
(0.7)
|
|
|
|
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
General
Surgery
|
|
|
|
|
|
|
|
|
Advanced
Sterilization Products
|
|
|
|
|
|
2.1
|
|
0.8
|
U.S.
|
|
|
|
|
|
2.7
|
|
0.9
|
International
|
|
|
|
|
|
1.6
|
|
0.6
|
|
|
|
|
|
|
|
|
|
Baby
Care
|
|
|
|
|
|
|
|
|
Baby
Center
|
|
0.3
|
|
|
|
|
|
0.0
|
U.S.
|
|
0.8
|
|
|
|
|
|
0.1
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
(0.2)
|
|
0.1
|
|
(0.1)
|
|
0.0
|
U.S.
|
|
0.0
|
|
0.1
|
|
(0.2)
|
|
0.0
|
International
|
|
(0.3)
|
|
0.0
|
|
0.1
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Adjusted
Operational
|
|
11.0%
|
|
10.2%
|
|
(4.8)%
|
|
5.6%
|
U.S.
|
|
21.7%
|
|
8.7%
|
|
(4.3)%
|
|
6.7%
|
International
|
|
2.8%
|
|
12.0%
|
|
(5.3)%
|
|
4.5%
|
|
|
|
|
|
|
|
|
|
Note:
Percentages are based on actual, non-rounded figures and may not
sum
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
CONSUMER HEALTH
SEGMENT (2,3)
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
US
|
|
$
92
|
|
87
|
6.7%
|
6.7%
|
-
|
|
Intl
|
|
269
|
|
307
|
-12.4%
|
-8.2%
|
-4.2%
|
|
WW
|
|
361
|
|
394
|
-8.2%
|
-4.9%
|
-3.3%
|
|
SKIN HEALTH /
BEAUTY(4)
|
|
|
|
|
|
|
|
|
US
|
|
659
|
|
588
|
12.1%
|
12.1%
|
-
|
|
Intl
|
|
458
|
|
502
|
-8.8%
|
-6.5%
|
-2.3%
|
|
WW
|
|
1,117
|
|
1,090
|
2.5%
|
3.5%
|
-1.0%
|
|
ORAL CARE
|
|
|
|
|
|
|
|
|
US
|
|
176
|
|
151
|
16.2%
|
16.2%
|
-
|
|
Intl
|
|
219
|
|
216
|
1.5%
|
5.3%
|
-3.8%
|
|
WW
|
|
395
|
|
367
|
7.6%
|
9.8%
|
-2.2%
|
|
OTC
|
|
|
|
|
|
|
|
US
|
|
689
|
|
507
|
35.9%
|
35.9%
|
-
|
|
Intl
|
|
659
|
|
580
|
13.7%
|
17.0%
|
-3.3%
|
|
WW
|
|
1,348
|
|
1,087
|
24.1%
|
25.8%
|
-1.7%
|
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
US
|
|
4
|
|
3
|
32.0%
|
32.0%
|
-
|
|
Intl
|
|
228
|
|
222
|
2.5%
|
8.9%
|
-6.4%
|
|
WW
|
|
232
|
|
225
|
2.9%
|
9.2%
|
-6.3%
|
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
US
|
|
119
|
|
102
|
17.0%
|
17.0%
|
-
|
|
Intl
|
|
52
|
|
53
|
-1.2%
|
1.9%
|
-3.1%
|
|
WW
|
|
171
|
|
155
|
10.7%
|
11.8%
|
-1.1%
|
|
|
|
|
|
|
|
|
|
|
TOTAL CONSUMER
HEALTH
|
|
|
|
|
|
|
|
|
US
|
|
1,740
|
|
1,438
|
21.0%
|
21.0%
|
-
|
|
Intl
|
|
1,885
|
|
1,880
|
0.3%
|
3.9%
|
-3.6%
|
|
WW
|
|
$
3,625
|
|
3,318
|
9.2%
|
11.3%
|
-2.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
PHARMACEUTICAL
SEGMENT (2)
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
US
|
|
$
2,410
|
|
2,163
|
11.4%
|
11.4%
|
-
|
|
Intl
|
|
1,228
|
|
1,088
|
12.8%
|
16.3%
|
-3.5%
|
|
WW
|
|
3,638
|
|
3,251
|
11.9%
|
13.1%
|
-1.2%
|
|
REMICADE
|
|
|
|
|
|
|
|
|
US
|
|
625
|
|
774
|
-19.3%
|
-19.3%
|
-
|
|
US Exports
(5)
|
|
110
|
|
76
|
44.3%
|
44.3%
|
-
|
|
Intl
|
|
256
|
|
252
|
1.5%
|
5.2%
|
-3.7%
|
|
WW
|
|
990
|
|
1,102
|
-10.2%
|
-9.3%
|
-0.9%
|
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
|
US
|
|
272
|
|
263
|
3.4%
|
3.4%
|
-
|
|
Intl
|
|
258
|
|
261
|
-1.2%
|
2.6%
|
-3.8%
|
|
WW
|
|
529
|
|
524
|
1.1%
|
3.0%
|
-1.9%
|
|
STELARA
|
|
|
|
|
|
|
|
|
US
|
|
1,217
|
|
882
|
37.9%
|
37.9%
|
-
|
|
Intl
|
|
603
|
|
523
|
15.2%
|
18.3%
|
-3.1%
|
|
WW
|
|
1,819
|
|
1,405
|
29.5%
|
30.6%
|
-1.1%
|
|
TREMFYA
|
|
|
|
|
|
|
|
|
US
|
|
187
|
|
168
|
11.5%
|
11.5%
|
-
|
|
Intl
|
|
109
|
|
49
|
*
|
*
|
*
|
|
WW
|
|
296
|
|
217
|
36.4%
|
37.3%
|
-0.9%
|
|
OTHER
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
Intl
|
|
3
|
|
3
|
-6.9%
|
-5.6%
|
-1.3%
|
|
WW
|
|
3
|
|
3
|
-6.9%
|
-5.6%
|
-1.3%
|
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
US
|
|
436
|
|
357
|
22.3%
|
22.3%
|
-
|
|
Intl
|
|
483
|
|
489
|
-1.2%
|
2.7%
|
-3.9%
|
|
WW
|
|
920
|
|
846
|
8.7%
|
11.0%
|
-2.3%
|
|
EDURANT /
rilpivirine
|
|
|
|
|
|
|
|
|
US
|
|
12
|
|
12
|
0.6%
|
0.6%
|
-
|
|
Intl
|
|
212
|
|
199
|
6.4%
|
9.2%
|
-2.8%
|
|
WW
|
|
224
|
|
211
|
6.1%
|
8.7%
|
-2.6%
|
|
PREZISTA / PREZCOBIX
/ REZOLSTA / SYMTUZA
|
|
|
|
|
|
|
|
|
US
|
|
396
|
|
315
|
25.5%
|
25.5%
|
-
|
|
Intl
|
|
184
|
|
208
|
-11.6%
|
-6.4%
|
-5.2%
|
|
WW
|
|
579
|
|
523
|
10.8%
|
12.8%
|
-2.0%
|
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
US
|
|
29
|
|
30
|
-3.4%
|
-3.4%
|
-
|
|
Intl
|
|
87
|
|
82
|
6.7%
|
10.2%
|
-3.5%
|
|
WW
|
|
116
|
|
112
|
4.0%
|
6.6%
|
-2.6%
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
US
|
|
748
|
|
723
|
3.3%
|
3.3%
|
-
|
|
Intl
|
|
910
|
|
905
|
0.5%
|
3.0%
|
-2.5%
|
|
WW
|
|
1,658
|
|
1,629
|
1.8%
|
3.1%
|
-1.3%
|
|
CONCERTA /
Methylphenidate
|
|
|
|
|
|
|
|
|
US
|
|
52
|
|
97
|
-46.1%
|
-46.1%
|
-
|
|
Intl
|
|
118
|
|
116
|
1.5%
|
3.6%
|
-2.1%
|
|
WW
|
|
171
|
|
214
|
-20.1%
|
-19.0%
|
-1.1%
|
|
INVEGA SUSTENNA /
XEPLION /
INVEGA TRINZA / TREVICTA
|
|
|
|
|
|
|
|
|
US
|
|
544
|
|
483
|
12.6%
|
12.6%
|
-
|
|
Intl
|
|
339
|
|
307
|
10.3%
|
13.2%
|
-2.9%
|
|
WW
|
|
883
|
|
790
|
11.7%
|
12.9%
|
-1.2%
|
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
|
US
|
|
76
|
|
77
|
-0.3%
|
-0.3%
|
-
|
|
Intl
|
|
94
|
|
102
|
-8.7%
|
-5.9%
|
-2.8%
|
|
WW
|
|
170
|
|
179
|
-5.1%
|
-3.5%
|
-1.6%
|
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
US
|
|
75
|
|
66
|
12.5%
|
12.5%
|
-
|
|
Intl
|
|
360
|
|
379
|
-5.1%
|
-3.1%
|
-2.0%
|
|
WW
|
|
435
|
|
446
|
-2.5%
|
-0.8%
|
-1.7%
|
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
US
|
|
1,175
|
|
962
|
22.1%
|
22.1%
|
-
|
|
Intl
|
|
1,839
|
|
1,556
|
18.2%
|
21.7%
|
-3.5%
|
|
WW
|
|
3,013
|
|
2,518
|
19.7%
|
21.8%
|
-2.1%
|
|
DARZALEX
|
|
|
|
|
|
|
|
|
US
|
|
463
|
|
352
|
31.8%
|
31.8%
|
-
|
|
Intl
|
|
474
|
|
277
|
70.9%
|
76.8%
|
-5.9%
|
|
WW
|
|
937
|
|
629
|
49.0%
|
51.6%
|
-2.6%
|
|
ERLEADA(6)
|
|
|
|
|
|
|
|
|
US
|
|
119
|
|
58
|
*
|
*
|
-
|
|
Intl
|
|
24
|
|
3
|
*
|
*
|
*
|
|
WW
|
|
143
|
|
61
|
*
|
*
|
*
|
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
US
|
|
432
|
|
349
|
23.9%
|
23.9%
|
-
|
|
Intl
|
|
599
|
|
435
|
37.8%
|
42.3%
|
-4.5%
|
|
WW
|
|
1,031
|
|
784
|
31.6%
|
34.1%
|
-2.5%
|
|
VELCADE
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
Intl
|
|
108
|
|
263
|
-59.0%
|
-58.2%
|
-0.8%
|
|
WW
|
|
108
|
|
263
|
-59.0%
|
-58.2%
|
-0.8%
|
|
ZYTIGA / abiraterone
acetate
|
|
|
|
|
|
|
|
|
US
|
|
139
|
|
185
|
-25.2%
|
-25.2%
|
-
|
|
Intl
|
|
552
|
|
494
|
11.7%
|
14.3%
|
-2.6%
|
|
WW
|
|
690
|
|
679
|
1.6%
|
3.5%
|
-1.9%
|
|
OTHER
ONCOLOGY(6)
|
|
|
|
|
|
|
|
|
US
|
|
22
|
|
18
|
20.1%
|
20.1%
|
-
|
|
Intl
|
|
82
|
|
84
|
-2.7%
|
0.6%
|
-3.3%
|
|
WW
|
|
104
|
|
102
|
1.3%
|
4.1%
|
-2.8%
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
PULMONARY
HYPERTENSION
|
|
|
|
|
|
|
|
|
US
|
|
486
|
|
430
|
13.0%
|
13.0%
|
-
|
|
Intl
|
|
260
|
|
226
|
14.9%
|
17.8%
|
-2.9%
|
|
WW
|
|
745
|
|
656
|
13.7%
|
14.7%
|
-1.0%
|
|
OPSUMIT
|
|
|
|
|
|
|
|
|
US
|
|
229
|
|
172
|
33.0%
|
33.0%
|
-
|
|
Intl
|
|
160
|
|
133
|
20.2%
|
23.3%
|
-3.1%
|
|
WW
|
|
389
|
|
306
|
27.4%
|
28.8%
|
-1.4%
|
|
UPTRAVI
|
|
|
|
|
|
|
|
|
US
|
|
212
|
|
176
|
20.7%
|
20.7%
|
-
|
|
Intl
|
|
38
|
|
22
|
70.2%
|
75.0%
|
-4.8%
|
|
WW
|
|
250
|
|
198
|
26.2%
|
26.8%
|
-0.6%
|
|
OTHER PULMONARY
HYPERTENSION(6)
|
|
|
|
|
|
|
|
|
US
|
|
44
|
|
82
|
-45.9%
|
-45.9%
|
-
|
|
Intl
|
|
62
|
|
71
|
-12.4%
|
-10.7%
|
-1.7%
|
|
WW
|
|
106
|
|
152
|
-30.4%
|
-29.6%
|
-0.8%
|
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
|
|
|
US
|
|
806
|
|
947
|
-14.9%
|
-14.9%
|
-
|
|
Intl
|
|
354
|
|
398
|
-11.0%
|
-8.7%
|
-2.3%
|
|
WW
|
|
1,160
|
|
1,345
|
-13.8%
|
-13.1%
|
-0.7%
|
|
XARELTO
|
|
|
|
|
|
|
|
|
US
|
|
527
|
|
542
|
-2.7%
|
-2.7%
|
-
|
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
WW
|
|
527
|
|
542
|
-2.7%
|
-2.7%
|
-
|
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
|
US
|
|
117
|
|
154
|
-23.6%
|
-23.6%
|
-
|
|
Intl
|
|
58
|
|
49
|
18.6%
|
20.9%
|
-2.3%
|
|
WW
|
|
175
|
|
202
|
-13.5%
|
-12.9%
|
-0.6%
|
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
|
US
|
|
76
|
|
148
|
-48.5%
|
-48.5%
|
-
|
|
Intl
|
|
79
|
|
78
|
0.4%
|
1.9%
|
-1.5%
|
|
WW
|
|
155
|
|
226
|
-31.6%
|
-31.0%
|
-0.6%
|
|
OTHER
|
|
|
|
|
|
|
|
|
US
|
|
85
|
|
104
|
-18.0%
|
-18.0%
|
-
|
|
Intl
|
|
217
|
|
271
|
-19.7%
|
-17.1%
|
-2.6%
|
|
WW
|
|
302
|
|
374
|
-19.2%
|
-17.4%
|
-1.8%
|
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
US
|
|
6,061
|
|
5,582
|
8.6%
|
8.6%
|
-
|
|
Intl
|
|
5,073
|
|
4,662
|
8.8%
|
12.0%
|
-3.2%
|
|
WW
|
|
$
11,134
|
|
10,244
|
8.7%
|
10.1%
|
-1.4%
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
MEDICAL DEVICES
SEGMENT (2)
|
|
|
|
|
|
|
|
|
INTERVENTIONAL
SOLUTIONS
|
|
|
|
|
|
|
|
|
US
|
|
365
|
|
343
|
6.6%
|
6.6%
|
-
|
|
Intl
|
|
362
|
|
389
|
-6.9%
|
-5.1%
|
-1.8%
|
|
WW
|
|
727
|
|
732
|
-0.6%
|
0.4%
|
-1.0%
|
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
US
|
|
1,250
|
|
1,318
|
-5.2%
|
-5.2%
|
-
|
|
Intl
|
|
788
|
|
885
|
-11.0%
|
-8.5%
|
-2.5%
|
|
WW
|
|
2,038
|
|
2,204
|
-7.5%
|
-6.5%
|
-1.0%
|
|
HIPS
|
|
|
|
|
|
|
|
|
US
|
|
206
|
|
213
|
-3.6%
|
-3.6%
|
-
|
|
Intl
|
|
132
|
|
148
|
-11.2%
|
-8.4%
|
-2.8%
|
|
WW
|
|
337
|
|
361
|
-6.7%
|
-5.6%
|
-1.1%
|
|
KNEES
|
|
|
|
|
|
|
|
|
US
|
|
214
|
|
223
|
-4.2%
|
-4.2%
|
-
|
|
Intl
|
|
130
|
|
146
|
-11.4%
|
-8.9%
|
-2.5%
|
|
WW
|
|
343
|
|
369
|
-7.0%
|
-6.1%
|
-0.9%
|
|
TRAUMA
|
|
|
|
|
|
|
|
|
US
|
|
407
|
|
417
|
-2.3%
|
-2.3%
|
-
|
|
Intl
|
|
247
|
|
268
|
-8.0%
|
-5.3%
|
-2.7%
|
|
WW
|
|
654
|
|
685
|
-4.5%
|
-3.5%
|
-1.0%
|
|
SPINE, SPORTS &
OTHER(7)
|
|
|
|
|
|
|
|
|
US
|
|
423
|
|
465
|
-8.9%
|
-8.9%
|
-
|
|
Intl
|
|
280
|
|
323
|
-13.3%
|
-11.1%
|
-2.2%
|
|
WW
|
|
703
|
|
788
|
-10.7%
|
-9.8%
|
-0.9%
|
|
SURGERY
|
|
|
|
|
|
|
|
|
US
|
|
844
|
|
1,001
|
-15.7%
|
-15.7%
|
-
|
|
Intl
|
|
1,257
|
|
1,394
|
-9.8%
|
-6.7%
|
-3.1%
|
|
WW
|
|
2,100
|
|
2,395
|
-12.3%
|
-10.5%
|
-1.8%
|
|
ADVANCED
|
|
|
|
|
|
|
|
|
US
|
|
381
|
|
404
|
-5.7%
|
-5.7%
|
-
|
|
Intl
|
|
567
|
|
576
|
-1.6%
|
1.6%
|
-3.2%
|
|
WW
|
|
948
|
|
980
|
-3.3%
|
-1.4%
|
-1.9%
|
|
GENERAL(6)
|
|
|
|
|
|
|
|
|
US
|
|
463
|
|
597
|
-22.5%
|
-22.5%
|
-
|
|
Intl
|
|
690
|
|
818
|
-15.7%
|
-12.6%
|
-3.1%
|
|
WW
|
|
1,153
|
|
1,414
|
-18.5%
|
-16.8%
|
-1.7%
|
|
VISION
|
|
|
|
|
|
|
|
|
US
|
|
439
|
|
446
|
-1.6%
|
-1.6%
|
-
|
|
Intl
|
|
628
|
|
682
|
-8.0%
|
-6.4%
|
-1.6%
|
|
WW
|
|
1,067
|
|
1,129
|
-5.5%
|
-4.5%
|
-1.0%
|
|
CONTACT LENSES /
OTHER
|
|
|
|
|
|
|
|
|
US
|
|
346
|
|
321
|
7.7%
|
7.7%
|
-
|
|
Intl
|
|
467
|
|
502
|
-7.0%
|
-5.4%
|
-1.6%
|
|
WW
|
|
814
|
|
824
|
-1.3%
|
-0.3%
|
-1.0%
|
|
SURGICAL
|
|
|
|
|
|
|
|
|
US
|
|
93
|
|
125
|
-25.5%
|
-25.5%
|
-
|
|
Intl
|
|
160
|
|
180
|
-11.0%
|
-9.2%
|
-1.8%
|
|
WW
|
|
253
|
|
305
|
-16.9%
|
-15.9%
|
-1.0%
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
US
|
|
2,898
|
|
3,109
|
-6.8%
|
-6.8%
|
-
|
|
Intl
|
|
3,034
|
|
3,350
|
-9.4%
|
-6.9%
|
-2.5%
|
|
WW
|
|
$
5,932
|
|
6,459
|
-8.2%
|
-6.9%
|
-1.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Columns
and rows within tables may not add due to rounding. Percentages
have been calculated using actual, non-rounded figures,
and therefore, may not recalculate precisely.
|
|
|
|
|
|
|
|
|
|
|
* Percentage greater
than 100% or not meaningful
|
|
|
|
|
|
|
|
|
(1) Operational
growth excludes the effect of translational currency
|
|
|
|
(5) Reported as U.S.
sales
|
|
|
(2)
Unaudited
|
|
|
|
(6) Refer to
supplemental schedule
|
|
|
(3) Previously
referred to as Consumer
|
|
|
|
(7) Previously
referred to as Spine & Other
|
|
|
(4) Previously
referred to as Beauty
|
|
|
|
|
Supplemental
Schedule
Prior quarter amounts have been reclassified to
conform to current quarter product disclosure ($MM)
|
|
|
|
2018
|
|
2019
|
|
2019
|
|
|
|
Full
Year
|
|
|
|
Q1
|
|
Q2
|
|
Q3
|
|
Q4
|
|
|
Full
Year
|
|
|
|
PHARMACEUTICAL
SEGMENT(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ERLEADA(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
124
|
|
|
|
58
|
|
62
|
|
74
|
|
103
|
|
|
297
|
|
|
|
Intl
|
|
-
|
|
|
|
3
|
|
7
|
|
12
|
|
13
|
|
|
35
|
|
|
|
WW
|
|
124
|
|
|
|
61
|
|
69
|
|
86
|
|
116
|
|
|
332
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER
ONCOLOGY(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
104
|
|
|
|
18
|
|
16
|
|
17
|
|
19
|
|
|
70
|
|
|
|
Intl
|
|
362
|
|
|
|
84
|
|
85
|
|
83
|
|
84
|
|
|
336
|
|
|
|
WW
|
|
466
|
|
|
|
102
|
|
101
|
|
100
|
|
104
|
|
|
407
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
2019
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Full
Year
|
|
|
|
Q1
|
|
Q2
|
|
Q3
|
|
Q4
|
|
|
Full
Year
|
|
|
|
Pulmonary
Hypertension
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER
PAH(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
353
|
|
|
|
82
|
|
61
|
|
36
|
|
26
|
|
|
205
|
|
|
|
Intl
|
|
342
|
|
|
|
71
|
|
78
|
|
61
|
|
62
|
|
|
272
|
|
|
|
WW
|
|
695
|
|
|
|
152
|
|
140
|
|
96
|
|
88
|
|
|
476
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
2019
|
|
2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Full
Year
|
|
|
|
Q1
|
|
Q2
|
|
Q3
|
|
Q4
|
|
|
Full
Year
|
|
|
|
MEDICAL DEVICES
SEGMENT(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GENERAL
SURGERY(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
2,468
|
|
|
|
597
|
|
530
|
|
531
|
|
534
|
|
|
2,192
|
|
|
|
Intl
|
|
3,431
|
|
|
|
818
|
|
794
|
|
769
|
|
834
|
|
|
3,215
|
|
|
|
WW
|
|
5,899
|
|
|
|
1,414
|
|
1,325
|
|
1,301
|
|
1,366
|
|
|
5,406
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Columns
and rows within tables may not add due to
rounding.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) ERLEADA was
previously included in Other Oncology
|
|
|
|
|
|
|
|
|
|
|
(3) Other PAH is
inclusive of TRACLEER, which was previously disclosed
separately
|
|
|
|
|
|
|
(4) General Surgery
is inclusive of Specialty Surgery, which was previously disclosed
separately
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2020-first-quarter-results-301039992.html
SOURCE Johnson & Johnson