Johnson & Johnson Reports 2019 Second-Quarter Results

This Post Was Syndicated Under License Via QuoteMedia

– Sales of $20.6 billion reflecting a decline of 1.3%, operational growth of 1.6%* and adjusted operational growth of 3.7%* – EPS of $2.08 increased 43.4%; adjusted EPS of $2.58 increased 22.9%*; includes gain from sale of Advanced Sterilization Products (ASP) business – Operational sales guidance increased due to strength of business; EPS guidance range maintained

NEW BRUNSWICK, N.J., July 16, 2019 /PRNewswire/ — Johnson & Johnson (NYSE: JNJ) today announced results for second-quarter 2019. “We delivered solid second-quarter underlying sales growth and strong earnings growth that enables us to make investments in innovation to accelerate performance in each of our businesses,” said Alex Gorsky, Chairman and Chief Executive Officer. “Our pipelines continue to progress with the launch of new products and several regulatory submissions and approvals, which positions us well to deliver the next wave of transformational products and solutions. I am proud of our talented colleagues across Johnson & Johnson who continue to deliver significant healthcare advances to improve the lives of patients and consumers around the world.”

OVERALL FINANCIAL RESULTS:

 

SECOND QUARTER

 

($ in Millions, except EPS)

2019

2018

%  Change

Reported Sales

$       20,562

$       20,830

(1.3)%

Net Earnings

5,607

3,954

41.8%

EPS (diluted)

$           2.08

$           1.45

43.4%

       

Non-GAAP*

SECOND QUARTER

 

($ in Millions, except EPS)

2019

2018

%  Change

Operational Sales1,2

N/A

N/A

01.6%

Adjusted Operational Sales1,3

N/A

N/A

03.7%

Adjusted Net Earnings1,4

6,950

5,718

21.5%

Adjusted EPS (diluted)1,4

$           2.58

$           2.10

22.9%

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: 

 

SECOND QUARTER

%  Change

($ in Millions) 1

20192

20182

Reported2

Operational1,2

Currency2

Adjusted Operational1,3

U.S.

$       10,403

$       10,640

(2.2)%

(2.2)

0.0

International

10,159

10,190

(0.3)%

5.5

(5.8)

7.6

Worldwide

$       20,562

$       20,830

(1.3)%

1.6

(2.9)

3.7

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:

 

SECOND QUARTER

%  Change

($ in Millions) 1

20191

20181

Reported2

Operational1,2

Currency1

Adjusted Operational1,3

Consumer

$         3,544

$         3,504

1.2%

4.6

(3.4)

2.3

Pharmaceuticals

10,529

10,354

1.7%

4.4

(2.7)

4.4

Medical Devices

6,489

6,972

(6.9)%

(4.1)

(2.8)

3.2

Worldwide

$       20,562

$       20,830

(1.3)%

1.6

(2.9)

3.7

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
Consumer worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 2.3%* driven by NEUTROGENA, AVEENO and OGX beauty products, over-the-counter products including ZYRTEC upper respiratory and MOTRIN analgesic products, international LISTERINE mouthwash in Oral Care products and U.S. Baby Care products.

Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures grew 4.4%* driven by DARZALEX (daratumumab), for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of  a number of immune-mediated inflammatory diseases, 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, TREMFYA (guselkumab),  a biologic for the treatment of adults living with moderate to severe plaque psoriasis, OPSUMIT (macitentan), an oral endothelin receptor antagonist indicated for the treatment of pulmonary arterial hypertension to delay disease progression, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with non-metastatic castration-resistant prostate cancer and  PREZISTA/PREZCOBIX/REZOLSTA/ SYMTUZA (D/C/F/TAF) for the treatment of human immunodeficiency virus type 1 (HIV-1) infection, partially offset by declines in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, and U.S. ZYTIGA (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer due to biosimilar and generic entrants.

Medical Devices
Worldwide Medical Devices operational sales, excluding the net impact of acquisitions and divestitures grew 3.2%* driven by the growth of electrophysiology products in the Interventional Solutions business, endocutters and international energy products in the Advanced Surgery business. As previously disclosed, the divestiture of the ASP business was completed, resulting in an approximate $2.0 billion pretax gain in the quarter.

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.

Pipeline Updates

Regulatory Approvals

IMBRUVICA (ibrutinib) – CHMP Positive Opinions in combination with obinutuzumab in CLL and in combination with rituximab in WM

(press release)

DARZALEX (daratumumab) – Newly diagnosed patients with Multiple Myeloma in combination with Lenalidomide and Dexamethasone (U.S.)

(press release)

Regulatory Submissions

DARZALEX (daratumumab) – Subcutaneous formulation in multiple myeloma (U.S.)1

(press release)

ERLEADA (apalutamide) – Metastatic Hormone-Sensitive Prostate Cancer (EU)

(press release)

ERLEADA (apalutamide) – Metastatic Castration – Sensitive Prostate Cancer (U.S)

(press release)

Rilpivirine and Cabotegravir – Monthly, Injectable, Two-Drug Regimen for Treatment of HIV

(press release)

1 Subsequent to the quarter

FULL YEAR 2019 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.

 

July 2019

April 2019

($ in Billions, except EPS)

   

Adjusted Operational Sales1,2

Change vs. Prior Year

3.2% – 3.7%

2.5% – 3.5%

Operational Sales2

Change vs. Prior Year

$82.4 to $83.2

1.0% – 2.0%

$82.0 to $82.8

0.5% – 1.5%

Estimated Reported Sales3

Change vs. Prior Year

$80.8 to $81.6

(1.0%) – 0.0%

$80.4 to $81.2

(1.5%) – (0.5%)

     

Adjusted Operational EPS (Diluted)2,4

Change vs. Prior Year

$8.73 to $8.83

6.7% – 7.9%

$8.73 to $8.83

6.7% – 7.9%

Adjusted EPS (Diluted)3,4

Change vs. Prior Year

$8.53 to $8.63

4.3% – 5.5%

$8.53 to $8.63

4.3% – 5.5%

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: July 2019 = $1.12; Euro Average Rate: April 2019 = $1.12 (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: 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 30, 2018, 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)

SECOND QUARTER

 

SIX MONTHS

         

Percent Change

         

Percent Change

 

2019

 

2018

 

Total

 

Operations

 

Currency

 

2019

 

2018

 

Total

 

Operations

 

Currency

Sales to customers by

                                     

segment of business

                                     
                                       

Consumer

                                     

    U.S.

$   1,537

 

1,476

 

4.1

%

4.1

 

 

$   2,975

 

2,912

 

2.2

%

2.2

 

    International

2,007

 

2,028

 

(1.0)

 

4.9

 

(5.9)

 

3,887

 

3,990

 

(2.6)

 

4.3

 

(6.9)

 

3,544

 

3,504

 

1.2

 

4.6

 

(3.4)

 

6,862

 

6,902

 

(0.6)

 

3.4

 

(4.0)

                                       

Pharmaceutical

                                     

    U.S.

5,783

 

5,899

 

(2.0)

 

(2.0)

 

 

11,365

 

11,253

 

1.0

 

1.0

 

    International

4,746

 

4,455

 

6.5

 

12.9

 

(6.4)

 

9,408

 

8,945

 

5.2

 

12.5

 

(7.3)

 

10,529

 

10,354

 

1.7

 

4.4

 

(2.7)

 

20,773

 

20,198

 

2.8

 

6.1

 

(3.3)

                                       

Medical Devices

                                     

    U.S.

3,083

 

3,265

 

(5.6)

 

(5.6)

 

 

6,192

 

6,426

 

(3.6)

 

(3.6)

 

    International

3,406

 

3,707

 

(8.1)

 

(2.9)

 

(5.2)

 

6,756

 

7,313

 

(7.6)

 

(1.6)

 

(6.0)

 

6,489

 

6,972

 

(6.9)

 

(4.1)

 

(2.8)

 

12,948

 

13,739

 

(5.7)

 

(2.6)

 

(3.1)

                                       

U.S.

10,403

 

10,640

 

(2.2)

 

(2.2)

 

 

20,532

 

20,591

 

(0.3)

 

(0.3)

 

International

10,159

 

10,190

 

(0.3)

 

5.5

 

(5.8)

 

20,051

 

20,248

 

(1.0)

 

5.8

 

(6.8)

Worldwide

$ 20,562

 

20,830

 

(1.3)

%

1.6

 

(2.9)

 

$ 40,583

 

40,839

 

(0.6)

%

2.7

 

(3.3)

                                       

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)

SECOND QUARTER

 

SIX MONTHS

         

Percent Change

         

Percent Change

 

2019

 

2018

 

Total

 

Operations

 

Currency

 

2019

 

2018

 

Total

 

Operations

 

Currency

Sales to customers by

                                     

geographic area

                                     
                                       

U.S.

$ 10,403

 

10,640

 

(2.2)

%

(2.2)

 

 

$ 20,532

 

20,591

 

(0.3)

%

(0.3)

 

                                       

Europe

4,733

 

4,810

 

(1.6)

 

4.7

 

(6.3)

 

9,342

 

9,607

 

(2.8)

 

4.6

 

(7.4)

Western Hemisphere excluding U.S.

1,455

 

1,540

 

(5.5)

 

4.2

 

(9.7)

 

2,958

 

3,107

 

(4.8)

 

6.5

 

(11.3)

Asia-Pacific, Africa

3,971

 

3,840

 

3.4

 

7.2

 

(3.8)

 

7,751

 

7,534

 

2.9

 

7.0

 

(4.1)

International

10,159

 

10,190

 

(0.3)

 

5.5

 

(5.8)

 

20,051

 

20,248

 

(1.0)

 

5.8

 

(6.8)

                                       

Worldwide

$ 20,562

 

20,830

 

(1.3)

%

1.6

 

(2.9)

 

$ 40,583

 

40,839

 

(0.6)

%

2.7

 

(3.3)

                                       

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)

SECOND QUARTER

                   
 

2019

 

2018

 

Percent

     

Percent

     

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$    20,562

 

100.0

 

$    20,830

 

100.0

 

(1.3)

Cost of products sold

6,940

 

33.8

 

6,927

 

33.3

 

0.2

Gross Profit

13,622

 

66.2

 

13,903

 

66.7

 

(2.0)

Selling, marketing and administrative expenses

5,546

 

27.0

 

5,743

 

27.5

 

(3.4)

Research and development expense

2,666

 

13.0

 

2,639

 

12.7

 

1.0

Interest (income) expense, net

(5)

 

0.0

 

127

 

0.6

   

Other (income) expense, net

(1,683)

 

(8.2)

 

364

 

1.7

   

Restructuring

57

 

0.2

 

57

 

0.3

   

Earnings before provision for taxes on income

7,041

 

34.2

 

4,973

 

23.9

 

41.6

Provision for taxes on income

1,434

 

6.9

 

1,019

 

4.9

 

40.7

Net earnings

$      5,607

 

27.3

 

$      3,954

 

19.0

 

41.8

                   

Net earnings per share (Diluted)

$        2.08

     

$        1.45

     

43.4

                   

Average shares outstanding (Diluted)

2,691.7

     

2,721.3

       
                   

Effective tax rate

20.4

%

   

20.5

%

     
                   

Adjusted earnings before provision for taxes and net earnings (1)

                 

Earnings before provision for taxes on income

$      8,614

 

41.9

 

$      7,014

 

33.7

 

22.8

Net earnings

$      6,950

 

33.8

 

$      5,718

 

27.5

 

21.5

Net earnings per share (Diluted)

$        2.58

     

$        2.10

     

22.9

Effective tax rate

19.3

%

   

18.5

%

     
                   

(1) See Reconciliation of Non-GAAP Financial Measures.

                 

 

Johnson & Johnson and Subsidiaries

                 

Condensed Consolidated Statement of Earnings 

                 
                   

(Unaudited; in Millions Except Per Share Figures)

SIX MONTHS

                   
 

2019

 

2018

 

Percent

     

Percent

     

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$    40,583

 

100.0

 

$    40,839

 

100.0

 

(0.6)

Cost of products sold

13,555

 

33.4

 

13,541

 

33.2

 

0.1

Gross Profit

27,028

 

66.6

 

27,298

 

66.8

 

(1.0)

Selling, marketing and administrative expenses

10,765

 

26.5

 

11,006

 

27.0

 

(2.2)

Research and development expense

5,524

 

13.6

 

5,043

 

12.3

 

9.5

In-process research and development

890

 

2.2

 

 

   

Interest (income) expense, net

(2)

 

0.0

 

272

 

0.7

   

Other (income) expense, net

(1,705)

 

(4.2)

 

424

 

1.0

   

Restructuring

93

 

0.3

 

99

 

0.2

   

Earnings before provision for taxes on income

11,463

 

28.2

 

10,454

 

25.6

 

9.7

Provision for taxes on income

2,107

 

5.1

 

2,133

 

5.2

 

(1.2)

Net earnings

$      9,356

 

23.1

 

$      8,321

 

20.4

 

12.4

                   

Net earnings per share (Diluted)

$        3.47

     

$        3.05

     

13.8

                   

Average shares outstanding (Diluted)

2,697.0

     

2,728.5

       
                   

Effective tax rate

18.4

%

   

20.4

%

     
                   

Adjusted earnings before provision for taxes and net earnings (1)

                 

Earnings before provision for taxes on income

$    15,481

 

38.1

 

$    13,872

 

34.0

 

11.6

Net earnings

$    12,611

 

31.1

 

$    11,353

 

27.8

 

11.1

Net earnings per share (Diluted)

$        4.68

     

$        4.16

     

12.5

Effective tax rate

18.5

%

   

18.2

%

     
                   

(1) See Reconciliation of Non-GAAP Financial Measures.

                 

 

Johnson & Johnson and Subsidiaries

                             

Reconciliation of Non-GAAP Financial Measures

                             
     

Second Quarter

 

% Incr. /

   

Six Months YTD

 

% Incr. /

 

(Dollars in Millions Except Per Share Data)

   

2019

 

2018

 

(Decr.)

   

2019

 

2018

 

(Decr.)

 
                               

Earnings before provision for taxes on income – as reported

   

$      7,041

 

4,973

 

41.6

%

 

$    11,463

 

10,454

 

9.7

%

Intangible asset amortization expense

   

1,118

 

1,084

       

2,248

 

2,199

     

In-process research and development

   

 

       

890

 

     

Litigation expense, net

   

409

 

703

       

832

 

703

     

Restructuring/Other (1)

   

142

 

176

       

232

 

283

     

Actelion acquisition related cost

   

51

 

64

       

90

 

160

     

AMO acquisition related cost

   

13

 

25

       

41

 

46

     

Auris Health acquisition related

   

(9)

 

       

(9)

 

     

Unrealized loss/(gain) on securities

   

(148)

 

(39)

       

(306)

 

(12)

     

Diabetes asset impairment

   

 

4

       

 

4

     

Other

   

(3)

 

24

       

 

35

     

Earnings before provision for taxes on income – as adjusted

   

$      8,614

 

7,014

 

22.8

%

 

$    15,481

 

13,872

 

11.6

%

                               

Net Earnings – as reported

   

$      5,607

 

3,954

 

41.8

%

 

$      9,356

 

8,321

 

12.4

%

Intangible asset amortization expense

   

979

 

967

       

1,825

 

1,963

     

In-process research and development

   

 

       

703

 

     

Litigation expense, net

   

342

 

609

       

684

 

609

     

Restructuring/Other

   

116

 

152

       

191

 

233

     

Actelion acquisition related cost

   

47

 

64

       

84

 

156

     

AMO acquisition related cost

   

10

 

22

       

33

 

39

     

Auris Health acquisition related

   

(7)

 

       

(7)

 

     

Unrealized loss/(gain) on securities

   

(117)

 

(31)

       

(242)

 

(10)

     

Diabetes asset impairment

   

 

3

       

 

3

     

Impact of tax legislation (2)

   

 

(40)

       

 

12

     

Other

   

(27)

 

18

       

(16)

 

27

     

Net Earnings – as adjusted 

   

$      6,950

 

5,718

 

21.5

%

 

$    12,611

 

11,353

 

11.1

%

                               

Diluted Net Earnings per share – as reported

   

$        2.08

 

1.45

 

43.4

%

 

$        3.47

 

3.05

 

13.8

%

Intangible asset amortization expense

   

0.36

 

0.36

       

0.68

 

0.72

     

In-process research and development

   

 

       

0.26

 

     

Litigation expense, net

   

0.13

 

0.22

       

0.26

 

0.22

     

Restructuring/Other

   

0.04

 

0.06

       

0.07

 

0.09

     

Actelion acquisition related cost

   

0.02

 

0.02

       

0.03

 

0.05

     

AMO acquisition related cost

   

 

0.01

       

0.01

 

0.01

     

Auris Health acquisition related

   

 

       

 

     

Unrealized loss/(gain) on securities

   

(0.04)

 

(0.01)

       

(0.09)

 

     

Diabetes asset impairment

   

 

       

 

     

Impact of tax legislation

   

 

(0.02)

       

 

0.01

     

Other

   

(0.01)

 

0.01

       

(0.01)

 

0.01

     

Diluted Net Earnings per share – as adjusted 

   

$        2.58

 

2.10

 

22.9

%

 

$        4.68

 

4.16

 

12.5

%

                               

Operational Diluted Net Earnings per share – as adjusted 

                             

at 2017 foreign currency exchange rates

       

2.04

           

3.97

     
                               

Impact of currency at 2018 foreign currency exchange rates

   

0.05

 

0.06

       

0.13

 

0.19

     
                               

Operational Diluted Net Earnings per share – as adjusted 

                             

at 2018 foreign currency exchange rates

   

$        2.63

 

2.10

 

25.2

%

 

$        4.81

 

4.16

 

15.6

%

                               

(1)Includes $38M recorded in cost of products sold and $47M recorded in other (income) expense for the second quarter 2019. Includes $61M recorded in cost of products sold

and $78M recorded in other (income) expense for six months 2019 YTD.  Includes $44M recorded in cost of products sold and $75M recorded in other (income) expense for the 

second quarter 2018.  Includes $50M recorded in cost of products sold and $134M recorded in other (income) expense for six months 2018 YTD.

                               

(2)Includes foreign currency translation

                             

 

Johnson & Johnson and Subsidiaries

               

Reconciliation of Non-GAAP Financial Measure

               
                 

Adjusted Operational Sales Growth

 SECOND QUARTER 2019 ACTUAL vs. 2018 ACTUAL 

                 
 

 Segments 

                 
   

 Consumer 

 

 Pharmaceutical 

 

 Medical Devices 

 

 Total 

 WW As Reported 

 

1.2%

 

1.7%

 

(6.9)%

 

(1.3)%

 U.S. 

 

4.1%

 

(2.0)%

 

(5.6)%

 

(2.2)%

 International 

 

(1.0)%

 

6.5%

 

(8.1)%

 

(0.3)%

                 

 WW Currency 

 

(3.4)

 

(2.7)

 

(2.8)

 

(2.9)

 U.S. 

 

 

 

 

 International 

 

(5.9)

 

(6.4)

 

(5.2)

 

(5.8)

                 

 WW Operational 

 

4.6%

 

4.4%

 

(4.1)%

 

1.6%

 U.S. 

 

4.1%

 

(2.0)%

 

(5.6)%

 

(2.2)%

 International 

 

4.9%

 

12.9%

 

(2.9)%

 

5.5%

                 

Beauty

               

Nizoral

 

0.6

         

0.1

 U.S. 

 

0.3

         

0.0

 International 

 

0.7

         

0.1

                 

OTC

               

Zarbees

 

(0.6)

         

(0.1)

 U.S. 

 

(1.4)

         

(0.2)

 International 

 

0.0

         

0.0

                 

Diabetes Care

               

LifeScan

         

5.1

 

1.7

 U.S. 

         

4.0

 

1.2

 International 

         

6.2

 

2.3

                 

Beauty

               

RoC

 

0.7

         

0.1

 U.S. 

 

1.3

         

0.2

 International 

 

0.3

         

0.1

                 

Beauty

               

Dr. Ci Labo – Japan

 

(3.0)

         

(0.5)

 U.S. 

 

0.0

         

0.0

 International 

 

(5.2)

         

(1.0)

                 

Specialty Surgery

               

Advanced Sterilization Products

         

2.0

 

0.7

 U.S. 

         

3.0

 

0.9

 International 

         

1.2

 

0.5

                 

All Other Acquisitions and Divestitures

 

0.0

 

0.0

 

0.1

 

0.0

 U.S. 

 

0.0

 

0.0

 

0.1

 

0.0

 International 

 

0.1

 

0.0

 

0.1

 

0.0

                 

WW Adjusted Operational

 

2.3%

 

4.4%

 

3.2%

 

3.7%

 U.S. 

 

4.4%

 

(2.0)%

 

1.6%

 

0.0%

 International 

 

0.7%

 

12.9%

 

4.7%

 

7.6%

                 

Note: Percentages are based on actual, non-rounded figures and may not sum

   

 

Johnson & Johnson and Subsidiaries

               

Reconciliation of Non-GAAP Financial Measure

               
                 

Adjusted Operational Sales Growth

 SIX MONTHS 2019 ACTUAL vs. 2018 ACTUAL 

                 
 

 Segments 

                 
   

 Consumer 

 

 Pharmaceutical 

 

 Medical Devices 

 

 Total 

 WW As Reported 

 

(0.6)%

 

2.8%

 

(5.7)%

 

(0.6)%

 U.S. 

 

2.2%

 

1.0%

 

(3.6)%

 

(0.3)%

 International 

 

(2.6)%

 

5.2%

 

(7.6)%

 

(1.0)%

                 

 WW Currency 

 

(4.0)

 

(3.3)

 

(3.1)

 

(3.3)

 U.S. 

 

 

 

 

 International 

 

(6.9)

 

(7.3)

 

(6.0)

 

(6.8)

                 

 WW Operational 

 

3.4%

 

6.1%

 

(2.6)%

 

2.7%

 U.S. 

 

2.2%

 

1.0%

 

(3.6)%

 

(0.3)%

 International 

 

4.3%

 

12.5%

 

(1.6)%

 

5.8%

                 

Beauty

               

Nizoral

 

0.5

         

0.1

 U.S. 

 

0.3

         

0.0

 International 

 

0.6

         

0.1

                 

OTC

               

Zarbees

 

(0.7)

         

(0.1)

 U.S. 

 

(1.7)

         

(0.2)

 International 

 

0.0

         

0.0

                 

Diabetes Care

               

LifeScan

         

5.1

 

1.7

 U.S. 

         

3.9

 

1.2

 International 

         

6.1

 

2.3

                 

Beauty

               

RoC

 

0.8

         

0.1

 U.S. 

 

1.4

         

0.2

 International 

 

0.3

         

0.1

                 

Beauty

               

Dr. Ci Labo – Japan

 

(2.6)

         

(0.4)

 U.S. 

 

0.0

         

0.0

 International 

 

(4.4)

         

(0.9)

                 

Specialty Surgery

               

Advanced Sterilization Products

         

1.1

 

0.4

 U.S. 

         

1.5

 

0.5

 International 

         

0.6

 

0.2

                 

All Other Acquisitions and Divestitures

 

0.1

 

0.0

 

0.1

 

0.1

 U.S. 

 

0.0

 

0.0

 

0.2

 

0.1

 International 

 

0.2

 

0.0

 

0.1

 

0.1

                 

WW Adjusted Operational

 

1.5%

 

6.1%

 

3.8%

 

4.6%

 U.S. 

 

2.2%

 

1.0%

 

2.1%

 

1.5%

 International 

 

1.0%

 

12.5%

 

5.3%

 

7.7%

                 

Note: Percentages are based on actual, non-rounded figures and may not sum

   

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

SECOND QUARTER

 

SIX MONTHS

         

% Change

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

   

2019

 

2018

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2) 

                             

BABY CARE

                             

US

 

$            99

 

89

11.5%

11.5%

   

$          186

 

186

-0.2%

-0.2%

Intl

 

344

 

367

-6.3%

0.0%

-6.3%

   

651

 

727

-10.5%

-3.2%

-7.3%

WW

 

443

 

456

-2.8%

2.2%

-5.0%

   

837

 

913

-8.4%

-2.6%

-5.8%

BEAUTY

                             

US

 

663

 

637

4.1%

4.1%

   

1,251

 

1,248

0.3%

0.3%

Intl

 

539

 

472

14.1%

19.5%

-5.4%

   

1,041

 

945

10.1%

16.3%

-6.2%

WW

 

1,202

 

1,109

8.4%

10.7%

-2.3%

   

2,292

 

2,193

4.5%

7.2%

-2.7%

ORAL CARE

                             

US

 

155

 

157

-1.6%

-1.6%

   

306

 

314

-2.5%

-2.5%

Intl

 

234

 

236

-0.7%

5.3%

-6.0%

   

450

 

458

-1.7%

4.9%

-6.6%

WW

 

389

 

393

-1.1%

2.5%

-3.6%

   

756

 

772

-2.0%

1.9%

-3.9%

OTC

                             

US

 

484

 

454

6.6%

6.6%

   

991

 

919

7.8%

7.8%

Intl

 

580

 

612

-5.1%

0.0%

-5.1%

   

1,160

 

1,219

-4.9%

1.4%

-6.3%

WW

 

1,064

 

1,066

-0.1%

2.8%

-2.9%

   

2,151

 

2,138

0.6%

4.2%

-3.6%

WOMEN’S HEALTH

                             

US

 

3

 

4

-10.3%

-10.3%

   

6

 

7

-3.7%

-3.7%

Intl

 

250

 

276

-9.5%

-1.3%

-8.2%

   

472

 

516

-8.6%

1.3%

-9.9%

WW

 

253

 

280

-9.5%

-1.4%

-8.1%

   

478

 

523

-8.5%

1.2%

-9.7%

WOUND CARE / OTHER

                             

US

 

132

 

135

-1.9%

-1.9%

   

234

 

238

-1.5%

-1.5%

Intl

 

61

 

65

-6.4%

-2.0%

-4.4%

   

114

 

125

-8.9%

-3.9%

-5.0%

WW

 

193

 

200

-3.4%

-1.9%

-1.5%

   

348

 

363

-4.0%

-2.3%

-1.7%

                               

TOTAL CONSUMER

                             

US

 

1,537

 

1,476

4.1%

4.1%

   

2,975

 

2,912

2.2%

2.2%

Intl

 

2,007

 

2,028

-1.0%

4.9%

-5.9%

   

3,887

 

3,990

-2.6%

4.3%

-6.9%

WW

 

$       3,544

 

3,504

1.2%

4.6%

-3.4%

   

$       6,862

 

6,902

-0.6%

3.4%

-4.0%

                               
                               

See footnotes at end of schedule

                             

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

SECOND QUARTER

 

SIX MONTHS

         

% Change

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

   

2019

 

2018

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2)(4)

                             

IMMUNOLOGY

                             

US

 

$       2,379

 

2,317

2.7%

2.7%

   

$       4,542

 

4,317

5.2%

5.2%

Intl

 

1,087

 

1,021

6.3%

12.5%

-6.2%

   

2,175

 

2,063

5.4%

12.5%

-7.1%

WW

 

3,466

 

3,338

3.8%

5.7%

-1.9%

   

6,717

 

6,380

5.3%

7.6%

-2.3%

REMICADE

                             

US 

 

801

 

918

-12.7%

-12.7%

   

1,575

 

1,834

-14.1%

-14.1%

US Exports (3)

 

62

 

104

-40.3%

-40.3%

   

138

 

246

-43.9%

-43.9%

Intl

 

244

 

298

-18.5%

-13.5%

-5.0%

   

496

 

629

-21.2%

-15.5%

-5.7%

WW

 

1,107

 

1,320

-16.2%

-15.1%

-1.1%

   

2,209

 

2,709

-18.5%

-17.1%

-1.3%

SIMPONI / SIMPONI ARIA

                             

US

 

281

 

274

2.7%

2.7%

   

544

 

498

9.1%

9.1%

Intl

 

282

 

274

2.7%

8.5%

-5.8%

   

543

 

568

-4.4%

2.2%

-6.6%

WW

 

563

 

548

2.7%

5.6%

-2.9%

   

1,087

 

1,066

1.9%

5.4%

-3.5%

STELARA

                             

US

 

1,058

 

919

15.2%

15.2%

   

1,940

 

1,571

23.5%

23.5%

Intl

 

499

 

422

18.1%

25.0%

-6.9%

   

1,022

 

831

23.0%

31.0%

-8.0%

WW

 

1,558

 

1,341

16.1%

18.3%

-2.2%

   

2,963

 

2,402

23.3%

26.1%

-2.8%

TREMFYA

                             

US

 

176

 

102

72.3%

72.3%

   

344

 

168

*

*

Intl

 

59

 

24

*

*

*

   

108

 

30

*

*

*

WW

 

235

 

126

86.5%

88.9%

-2.4%

   

452

 

198

*

*

*

OTHER IMMUNOLOGY(4)

                             

US

 

 

   

 

Intl

 

3

 

3

27.7%

27.0%

0.7%

   

6

 

5

23.6%

24.0%

-0.4%

WW

 

3

 

3

27.7%

27.0%

0.7%

   

6

 

5

23.6%

24.0%

-0.4%

INFECTIOUS DISEASES

                             

US

 

387

 

328

17.8%

17.8%

   

744

 

661

12.5%

12.5%

Intl

 

475

 

521

-8.7%

-2.5%

-6.2%

   

964

 

1,018

-5.3%

2.5%

-7.8%

WW

 

862

 

849

1.5%

5.4%

-3.9%

   

1,708

 

1,679

1.7%

6.5%

-4.8%

EDURANT / rilpivirine

                             

US

 

12

 

15

-15.8%

-15.8%

   

24

 

29

-17.3%

-17.3%

Intl

 

198

 

196

0.5%

6.6%

-6.1%

   

397

 

392

1.4%

8.6%

-7.2%

WW

 

210

 

211

-0.6%

5.0%

-5.6%

   

421

 

421

0.1%

6.8%

-6.7%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA

                             

US

 

344

 

277

24.2%

24.2%

   

659

 

550

19.9%

19.9%

Intl

 

191

 

215

-11.1%

-4.6%

-6.5%

   

399

 

420

-5.0%

3.4%

-8.4%

WW

 

535

 

492

8.7%

11.6%

-2.9%

   

1,058

 

970

9.1%

12.7%

-3.6%

OTHER INFECTIOUS DISEASES

                             

US

 

31

 

36

-16.6%

-16.6%

   

61

 

82

-26.0%

-26.0%

Intl

 

86

 

110

-20.8%

-14.6%

-6.2%

   

168

 

206

-18.6%

-10.7%

-7.9%

WW

 

117

 

146

-19.7%

-15.1%

-4.6%

   

229

 

288

-20.7%

-15.1%

-5.6%

                               

See footnotes at end of schedule

                             

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

SECOND QUARTER

 

SIX MONTHS

         

% Change

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

   

2019

 

2018

Reported

Operational (1)

Currency

NEUROSCIENCE

                             

US

 

664

 

639

3.8%

3.8%

   

1,387

 

1,263

9.8%

9.8%

Intl

 

875

 

889

-1.6%

3.9%

-5.5%

   

1,780

 

1,824

-2.4%

4.1%

-6.5%

WW

 

1,538

 

1,528

0.6%

3.9%

-3.3%

   

3,167

 

3,087

2.6%

6.4%

-3.8%

CONCERTA / methlyphenidate

                             

US

 

15

 

68

-78.6%

-78.6%

   

112

 

134

-16.4%

-16.4%

Intl

 

123

 

115

6.2%

12.1%

-5.9%

   

239

 

222

7.3%

13.9%

-6.6%

WW

 

137

 

183

-25.2%

-21.5%

-3.7%

   

351

 

356

-1.6%

2.5%

-4.1%

INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA

                             

US

 

506

 

438

15.6%

15.6%

   

989

 

838

18.1%

18.1%

Intl

 

312

 

282

10.4%

17.2%

-6.8%

   

619

 

578

7.0%

14.7%

-7.7%

WW

 

818

 

720

13.6%

16.3%

-2.7%

   

1,608

 

1,416

13.6%

16.7%

-3.1%

RISPERDAL CONSTA

                             

US

 

81

 

80

0.8%

0.8%

   

158

 

162

-3.0%

-3.0%

Intl

 

101

 

108

-6.5%

-0.1%

-6.4%

   

203

 

222

-8.4%

-1.3%

-7.1%

WW

 

182

 

188

-3.4%

0.3%

-3.7%

   

361

 

384

-6.2%

-2.0%

-4.2%

OTHER NEUROSCIENCE

                             

US

 

62

 

53

16.1%

16.1%

   

128

 

129

-0.4%

-0.4%

Intl

 

340

 

384

-11.5%

-7.3%

-4.2%

   

719

 

802

-10.3%

-4.8%

-5.5%

WW

 

401

 

437

-8.1%

-4.4%

-3.7%

   

847

 

931

-8.9%

-4.1%

-4.8%

ONCOLOGY

                             

US

 

1,013

 

1,085

-6.6%

-6.6%

   

1,975

 

2,018

-2.1%

-2.1%

Intl

 

1,684

 

1,371

22.8%

30.5%

-7.7%

   

3,240

 

2,749

17.9%

26.3%

-8.4%

WW

 

2,697

 

2,456

9.8%

14.1%

-4.3%

   

5,215

 

4,767

9.4%

14.3%

-4.9%

DARZALEX

                             

US

 

369

 

298

24.4%

24.4%

   

721

 

562

28.5%

28.5%

Intl

 

405

 

213

89.5%

*

-13.6%

   

682

 

381

78.7%

93.0%

-14.3%

WW

 

774

 

511

51.6%

57.3%

-5.7%

   

1,403

 

943

48.8%

54.6%

-5.8%

IMBRUVICA

                             

US

 

367

 

250

47.0%

47.0%

   

716

 

477

50.2%

50.2%

Intl

 

463

 

370

25.3%

33.9%

-8.6%

   

898

 

730

23.1%

33.0%

-9.9%

WW

 

831

 

620

34.1%

39.2%

-5.1%

   

1,615

 

1,207

33.8%

39.8%

-6.0%

VELCADE

                             

US

 

 

   

 

Intl

 

224

 

280

-20.1%

-16.1%

-4.0%

   

487

 

593

-17.9%

-12.9%

-5.0%

WW

 

224

 

280

-20.1%

-16.1%

-4.0%

   

487

 

593

-17.9%

-12.9%

-5.0%

ZYTIGA / abiraterone acetate

                             

US

 

198

 

486

-59.4%

-59.4%

   

383

 

893

-57.1%

-57.1%

Intl

 

500

 

423

18.0%

24.5%

-6.5%

   

994

 

861

15.4%

22.6%

-7.2%

WW

 

698

 

909

-23.3%

-20.3%

-3.0%

   

1,377

 

1,754

-21.5%

-18.0%

-3.5%

OTHER ONCOLOGY

                             

US

 

78

 

51

50.5%

50.5%

   

154

 

86

77.7%

77.7%

Intl

 

92

 

85

8.8%

16.2%

-7.4%

   

179

 

184

-2.5%

5.3%

-7.8%

WW

 

170

 

136

24.7%

29.3%

-4.6%

   

333

 

270

23.2%

28.6%

-5.4%

PULMONARY HYPERTENSION

                             

US

 

439

 

429

2.2%

2.2%

   

869

 

790

10.0%

10.0%

Intl

 

251

 

236

6.7%

12.7%

-6.0%

   

477

 

460

3.7%

10.7%

-7.0%

WW

 

690

 

665

3.8%

6.0%

-2.2%

   

1,346

 

1,250

7.7%

10.2%

-2.5%

OPSUMIT

                             

US

 

203

 

180

12.8%

12.8%

   

375

 

329

14.2%

14.2%

Intl

 

146

 

131

11.5%

18.1%

-6.6%

   

279

 

253

10.3%

18.0%

-7.7%

WW

 

348

 

311

12.3%

15.0%

-2.7%

   

654

 

582

12.5%

15.8%

-3.3%

TRACLEER

                             

US

 

41

 

71

-41.8%

-41.8%

   

102

 

139

-26.3%

-26.3%

Intl

 

62

 

72

-14.5%

-10.9%

-3.6%

   

118

 

144

-18.7%

-14.6%

-4.1%

WW

 

103

 

143

-28.0%

-26.2%

-1.8%

   

220

 

283

-22.4%

-20.3%

-2.1%

UPTRAVI

                             

US

 

175

 

155

13.4%

13.4%

   

351

 

279

25.9%

25.9%

Intl

 

28

 

16

62.5%

71.6%

-9.1%

   

50

 

32

53.1%

63.0%

-9.9%

WW

 

203

 

171

18.2%

19.1%

-0.9%

   

401

 

311

28.7%

29.7%

-1.0%

OTHER

                             

US

 

20

 

23

-18.2%

-18.2%

   

41

 

43

-8.4%

-8.4%

Intl

 

16

 

17

3.7%

13.3%

-9.6%

   

31

 

31

4.1%

15.1%

-11.0%

WW

 

37

 

40

-9.6%

-5.8%

-3.8%

   

72

 

74

-3.4%

1.0%

-4.4%

CARDIOVASCULAR / METABOLISM / OTHER

                             

US

 

902

 

1,101

-18.1%

-18.1%

   

1,849

 

2,204

-16.1%

-16.1%

Intl

 

373

 

417

-10.5%

-5.7%

-4.8%

   

771

 

831

-7.2%

-1.5%

-5.7%

WW

 

1,275

 

1,518

-16.0%

-14.7%

-1.3%

   

2,620

 

3,035

-13.7%

-12.1%

-1.6%

XARELTO

                             

US

 

549

 

679

-19.2%

-19.2%

   

1,091

 

1,257

-13.2%

-13.2%

Intl

 

 

   

 

WW

 

549

 

679

-19.2%

-19.2%

   

1,091

 

1,257

-13.2%

-13.2%

INVOKANA / INVOKAMET

                             

US

 

132

 

169

-21.2%

-21.2%

   

286

 

373

-23.2%

-23.2%

Intl

 

43

 

46

-6.0%

-1.5%

-4.5%

   

92

 

90

2.6%

8.9%

-6.3%

WW

 

177

 

215

-17.9%

-16.9%

-1.0%

   

379

 

463

-18.2%

-16.9%

-1.3%

PROCRIT / EPREX

                             

US

 

113

 

156

-27.5%

-27.5%

   

261

 

345

-24.3%

-24.3%

Intl

 

70

 

80

-13.4%

-9.6%

-3.8%

   

148

 

167

-11.7%

-7.3%

-4.4%

WW

 

183

 

236

-22.7%

-21.4%

-1.3%

   

409

 

512

-20.2%

-18.7%

-1.5%

OTHER

                             

US

 

107

 

97

9.3%

9.3%

   

211

 

229

-8.2%

-8.2%

Intl

 

260

 

291

-10.5%

-5.2%

-5.3%

   

531

 

574

-7.5%

-1.4%

-6.1%

WW

 

368

 

388

-5.5%

-1.5%

-4.0%

   

742

 

803

-7.7%

-3.4%

-4.3%

TOTAL PHARMACEUTICAL

                             

US

 

5,783

 

5,899

-2.0%

-2.0%

   

11,365

 

11,253

1.0%

1.0%

Intl

 

4,746

 

4,455

6.5%

12.9%

-6.4%

   

9,408

 

8,945

5.2%

12.5%

-7.3%

WW

 

$     10,529

 

10,354

1.7%

4.4%

-2.7%

   

$     20,773

 

20,198

2.8%

6.1%

-3.3%

                               

See footnotes at end of schedule

                             

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

SECOND QUARTER

 

SIX MONTHS

         

% Change

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

   

2019

 

2018

Reported

Operational (1)

Currency

MEDICAL DEVICES SEGMENT (2)(5)

                             

DIABETES CARE(5)

                             

US

 

$               –

 

129

*

*

   

$               –

 

246

*

*

Intl

 

 

226

*

*

*

   

 

448

*

*

*

WW

 

 

355

*

*

*

   

 

694

*

*

*

INTERVENTIONAL SOLUTIONS

                             

US

 

366

 

323

13.7%

13.7%

   

709

 

627

13.2%

13.2%

Intl

 

385

 

344

11.6%

17.3%

-5.7%

   

774

 

680

13.7%

20.0%

-6.3%

WW

 

750

 

667

12.6%

15.6%

-3.0%

   

1,482

 

1,307

13.4%

16.7%

-3.3%

ORTHOPAEDICS

                             

US 

 

1,331

 

1,332

-0.1%

-0.1%

   

2,649

 

2,639

0.4%

0.4%

Intl

 

894

 

930

-3.8%

1.5%

-5.3%

   

1,779

 

1,873

-5.0%

1.1%

-6.1%

WW

 

2,224

 

2,262

-1.6%

0.6%

-2.2%

   

4,428

 

4,512

-1.9%

0.7%

-2.6%

HIPS

                             

US

 

216

 

211

2.1%

2.1%

   

429

 

420

2.1%

2.1%

Intl

 

147

 

149

-0.7%

5.0%

-5.7%

   

295

 

303

-2.3%

4.2%

-6.5%

WW

 

364

 

360

0.9%

3.3%

-2.4%

   

725

 

723

0.3%

3.0%

-2.7%

KNEES

                             

US

 

218

 

229

-4.8%

-4.8%

   

441

 

457

-3.5%

-3.5%

Intl

 

153

 

153

0.4%

5.4%

-5.0%

   

299

 

312

-4.0%

1.9%

-5.9%

WW

 

372

 

382

-2.8%

-0.7%

-2.1%

   

741

 

769

-3.7%

-1.3%

-2.4%

TRAUMA

                             

US

 

407

 

394

3.3%

3.3%

   

824

 

801

2.9%

2.9%

Intl

 

265

 

281

-5.9%

-0.6%

-5.3%

   

533

 

570

-6.5%

-0.5%

-6.0%

WW

 

672

 

675

-0.6%

1.7%

-2.3%

   

1,357

 

1,371

-1.0%

1.5%

-2.5%

SPINE & OTHER

                             

US

 

490

 

498

-1.5%

-1.5%

   

955

 

961

-0.6%

-0.6%

Intl

 

328

 

347

-5.3%

0.0%

-5.3%

   

651

 

688

-5.4%

0.6%

-6.0%

WW

 

818

 

845

-3.1%

-0.9%

-2.2%

   

1,606

 

1,649

-2.6%

-0.1%

-2.5%

SURGERY

                             

US

 

926

 

1,022

-9.5%

-9.5%

   

1,927

 

2,015

-4.4%

-4.4%

Intl

 

1,427

 

1,493

-4.4%

1.5%

-5.9%

   

2,821

 

2,923

-3.5%

3.0%

-6.5%

WW

 

2,353

 

2,515

-6.5%

-3.0%

-3.5%

   

4,748

 

4,938

-3.9%

0.0%

-3.9%

ADVANCED

                             

US

 

396

 

402

-1.7%

-1.7%

   

800

 

795

0.6%

0.6%

Intl

 

633

 

603

5.0%

11.2%

-6.2%

   

1,209

 

1,176

2.8%

9.5%

-6.7%

WW

 

1,029

 

1,005

2.3%

6.1%

-3.8%

   

2,009

 

1,971

1.9%

5.9%

-4.0%

GENERAL

                             

US

 

443

 

436

1.6%

1.6%

   

868

 

859

1.0%

1.0%

Intl

 

674

 

733

-7.9%

-2.4%

-5.5%

   

1,339

 

1,437

-6.8%

-0.4%

-6.4%

WW

 

1,119

 

1,169

-4.3%

-0.9%

-3.4%

   

2,208

 

2,296

-3.9%

0.1%

-4.0%

SPECIALTY

                             

US

 

87

 

184

-53.1%

-53.1%

   

259

 

361

-28.3%

-28.3%

Intl

 

120

 

157

-23.7%

-18.2%

-5.5%

   

273

 

310

-12.1%

-5.4%

-6.7%

WW

 

206

 

341

-39.6%

-37.1%

-2.5%

   

531

 

671

-20.8%

-17.8%

-3.0%

VISION

                             

US

 

461

 

459

0.4%

0.4%

   

907

 

899

1.0%

1.0%

Intl

 

701

 

714

-2.0%

2.2%

-4.2%

   

1,383

 

1,389

-0.5%

4.7%

-5.2%

WW

 

1,161

 

1,173

-1.0%

1.5%

-2.5%

   

2,290

 

2,288

0.1%

3.2%

-3.1%

CONTACT LENSES / OTHER

                             

US

 

333

 

320

3.9%

3.9%

   

654

 

629

4.0%

4.0%

Intl

 

509

 

524

-2.9%

1.5%

-4.4%

   

1,011

 

1,022

-1.0%

4.4%

-5.4%

WW

 

842

 

844

-0.3%

2.4%

-2.7%

   

1,666

 

1,651

0.9%

4.2%

-3.3%

SURGICAL

                             

US

 

128

 

139

-7.7%

-7.7%

   

253

 

270

-6.1%

-6.1%

Intl

 

191

 

190

0.7%

4.2%

-3.5%

   

371

 

367

1.0%

5.5%

-4.5%

WW

 

319

 

329

-2.8%

-0.8%

-2.0%

   

624

 

637

-2.0%

0.6%

-2.6%

                               

TOTAL MEDICAL DEVICES

                             

US

 

3,083

 

3,265

-5.6%

-5.6%

   

6,192

 

6,426

-3.6%

-3.6%

Intl

 

3,406

 

3,707

-8.1%

-2.9%

-5.2%

   

6,756

 

7,313

-7.6%

-1.6%

-6.0%

WW

 

$       6,489

 

6,972

-6.9%

-4.1%

-2.8%

   

$     12,948

 

13,739

-5.7%

-2.6%

-3.1%

                               
                               

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

                       

(2) Unaudited

                             

(3) Reported as U.S. sales

                             

(4) Prior year amounts have been reclassified to conform to current year product disclosure 

                   

(5) Reflects LifeScan divestiture October 2, 2018

                       

 

(PRNewsfoto/Johnson & Johnson)

 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/johnson–johnson-reports-2019-second-quarter-results-300885535.html

SOURCE Johnson & Johnson

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