NEW BRUNSWICK, N.J.,
July 14, 2015 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced sales of
$17.8 billion for the second quarter
of 2015, a decrease of 8.8% as compared to the second quarter of
2014. Operational results decreased 0.9% and the negative
impact of currency was 7.9%. Domestic sales decreased 2.4%.
International sales decreased 14.3%, reflecting operational growth
of 0.5% and a negative currency impact of 14.8%. Excluding the net
impact of acquisitions and divestitures, on an operational basis,
worldwide sales increased 1.7%, domestic sales increased 0.6% and
international sales increased 2.7%.* Additionally
excluding hepatitis C sales, underlying operational growth
worldwide was 5%.*
Net earnings and diluted earnings per share for the second
quarter of 2015 were $4.5 billion and
$1.61, respectively. Second
quarter 2015 net earnings included after-tax intangible
amortization expense of approximately $0.2
billion and a charge for after-tax special items of
approximately $0.1 billion. Second
quarter 2014 net earnings included after-tax intangible
amortization expense of approximately $0.4
billion and a charge for after-tax special items of
approximately $0.4 billion. A
reconciliation of non-GAAP financial measures is included as an
accompanying schedule. Excluding after-tax intangible
amortization expense and special items, adjusted net earnings for
the current quarter were $4.8 billion
and adjusted diluted earnings per share were $1.71, representing decreases of 6.3% and 3.9%,
respectively, as compared to the same period in
2014.* On an operational basis, adjusted diluted
earnings per share increased 6.7%.*
"Our solid sales and earnings results in the quarter reflect the
strong underlying growth we're seeing across the enterprise," said
Alex Gorsky, Chairman and Chief
Executive Officer. "Our diverse portfolio and scale are
enabling this performance, and we've continued to invest in
building a robust enterprise pipeline that will drive our growth
over the long term. Our passion to deliver transformational
new medicines and products reflects the ongoing commitment of our
dedicated employees to improve health and well-being."
The Company increased its adjusted earnings guidance for
full-year 2015 to $6.10 - $6.20 per
share. The Company's guidance excludes the impact of
after-tax intangible amortization expense and special items.
Worldwide Consumer sales of $3.5
billion for the second quarter represented a decrease of
7.0% versus the prior year, consisting of an operational increase
of 2.3% and a negative impact from currency of 9.3%. Domestic sales
increased 2.7%; international sales decreased 12.2%, which
reflected an operational increase of 2.1% and a negative currency
impact of 14.3%. Excluding the net impact of acquisitions and
divestitures, on an operational basis, worldwide sales increased
3.1%, domestic sales increased 2.9% and international sales
increased 3.2%.*
Positive contributors to Consumer operational results were sales
of over-the-counter products including ZYRTEC® allergy
medications and TYLENOL® analgesics; international
feminine protection products; and LISTERINE® oral care
products.
Worldwide Pharmaceutical sales of $7.9
billion for the second quarter represented a decrease of
6.6% versus the prior year with operational growth of 1.0% and a
negative impact from currency of 7.6%. Domestic sales decreased
1.5%; international sales decreased 12.7%, which reflected an
operational increase of 3.8% and a negative currency impact of
16.5%. Excluding the net impact of acquisitions and
divestitures, on an operational basis, worldwide sales increased
1.5%, domestic sales decreased 0.6% and international sales
increased 3.9%.* Additionally excluding hepatitis
C sales, underlying operational growth worldwide was
9.7%.*
Worldwide operational sales growth was driven by new products
and the strength of core products. New product sales growth was
negatively impacted by lower sales of OLYSIO®
(simeprevir) in the U.S and lower sales of
SOVRIAD® (simeprevir) in Japan due to competitive entrants.
Strong growth in new products include
INVOKANA®/INVOKAMET® (canagliflozin), for the
treatment of adults with type 2 diabetes; international sales of
OLYSIO® (simeprevir), for combination treatment of
chronic hepatitis C in adult patients; IMBRUVICA®
(ibrutinib), an oral, once-daily therapy approved for use in
treating certain B-cell malignancies, or blood cancers;
XARELTO® (rivaroxaban), an oral anticoagulant; and
ZYTIGA® (abiraterone acetate), an oral, once-daily
medication for use in combination with prednisone for the treatment
of metastatic, castration-resistant prostate cancer.
Additional contributors to operational sales growth were
STELARA® (ustekinumab), a biologic approved for the
treatment of moderate to severe plaque psoriasis and psoriatic
arthritis; INVEGA®
SUSTENNA®/XEPLION® (paliperidone palmitate),
a once-monthly, long-acting, injectable atypical antipsychotic for
the treatment of schizophrenia in adults; domestic sales of
CONCERTA® (methylphenidate HCI), for the treatment of
attention deficit hyperactivity disorder; and
SIMPONI®/SIMPONI ARIA® (golimumab), biologics
approved for the treatment of a number of immune-mediated
inflammatory diseases.
During the quarter, the U.S. Food and Drug Administration (FDA)
granted approval of INVEGA TRINZA™ (paliperidone
palmitate), an atypical antipsychotic injection administered four
times a year for the treatment of schizophrenia. In July, a
rolling submission was completed with the FDA for the Biologic
License Application for daratumumab for the treatment of multiple
myeloma. The European Commission approved STELARA®
(ustekinumab) for the treatment of adolescents with
moderate-to-severe psoriasis, SIMPONI® (golimumab) for
treatment of non-radiographic axial spondyloarthritis and
IMBRUVICA® (ibrutinib) for the treatment of
Waldenström's Macroglobulinemia.
Also in the quarter, an exclusive worldwide license and
collaboration arrangement was entered into with Achillion
Pharmaceuticals, Inc. to develop and commercialize one or more of
Achillion's lead hepatitis C virus assets.
Worldwide Medical Devices sales of $6.4
billion for the second quarter represented a decrease of
12.2% versus the prior year consisting of an operational decrease
of 4.7% and a negative currency impact of 7.5%. Domestic sales
decreased 5.8%; international sales decreased 17.3%, which
reflected an operational decrease of 3.9% and a negative currency
impact of 13.4%. Excluding the net impact of acquisitions and
divestitures, on an operational basis, worldwide sales increased
1.4%, domestic sales increased 1.6% and international sales
increased 1.4%.*
Primary contributors to operational growth were sales of
endocutters in the Surgical Care business; electrophysiology
products in the Cardiovascular Care business; joint reconstruction
products in the Orthopaedics business; international sales of
contact lenses in the Vision Care business; and sales of
biosurgicals and energy products in the Specialty Surgery
business.
During the quarter, the Company announced the acceptance of the
March 1, 2015 binding offer from
Cardinal Health to acquire its Cordis business for an approximate
value of $2 billion.
About Johnson & Johnson
Caring for the world, one person at a time, inspires and unites
the people of Johnson & Johnson. We embrace research and
science - bringing innovative ideas, products and services to
advance the health and well-being of people. Our approximately
127,300 employees at more than 265 Johnson & Johnson operating
companies work with partners in health care to touch the lives of
over a billion people every day, throughout the world.
* Operational sales growth excluding the net impact
of acquisitions, divestitures and hepatitis C sales, as well as
adjusted net earnings, adjusted diluted earnings per share and
operational adjusted 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. 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 Investor Relations section of the
Company's website at www.investor.jnj.com.
Johnson & Johnson will conduct a conference call with
investors to discuss this news 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 at
www.investor.jnj.com. A replay and podcast will be available
approximately two hours after the live webcast by visiting
www.investor.jnj.com.
Copies of the financial schedules accompanying this press
release are available at www.investor.jnj.com/historical-sales.cfm.
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 a
pharmaceutical pipeline of selected compounds in late stage
development and a copy of today's earnings call presentation can be
found on the Company's website at www.investor.jnj.com.
NOTE TO INVESTORS
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 and uncertainties inherent in new
product development, including uncertainty of clinical success and
obtaining regulatory approvals; uncertainty of commercial success
for new and existing products; the ability of the company to
successfully execute strategic plans; impact of business
combinations and divestitures; challenges to patents; the impact of
patent expirations; significant adverse litigation or government
action, including related to product liability claims; changes to
applicable laws and regulations, including global health care
reforms; trends toward health care cost containment; changes in
behavior and spending patterns or financial distress of purchasers
of health care products and services; financial instability of
international economies and legal systems and sovereign risk;
manufacturing difficulties or delays, internally or within the
supply chain; product efficacy or safety concerns resulting in
product recalls or regulatory action; increased scrutiny of the
health care industry by government agencies; and the potential
failure to meet obligations in compliance agreements with
government bodies. A further list and description 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 28, 2014, including Exhibit
99 thereto, and the company's subsequent filings with the
Securities and Exchange Commission. Copies of these filings are
available online at www.sec.gov, www.investor.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 statements as a result of new information or future
events or developments.
Johnson &
Johnson and Subsidiaries
|
|
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|
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|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2015
|
|
2014
|
|
Total
|
|
Operations
|
|
Currency
|
|
2015
|
|
2014
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$ 1,355
|
|
1,320
|
|
2.7
|
%
|
2.7
|
|
-
|
|
$ 2,714
|
|
2,629
|
|
3.2
|
%
|
3.2
|
|
-
|
International
|
2,128
|
|
2,424
|
|
(12.2)
|
|
2.1
|
|
(14.3)
|
|
4,159
|
|
4,672
|
|
(11.0)
|
|
2.6
|
|
(13.6)
|
|
3,483
|
|
3,744
|
|
(7.0)
|
|
2.3
|
|
(9.3)
|
|
6,873
|
|
7,301
|
|
(5.9)
|
|
2.8
|
|
(8.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
4,543
|
|
4,613
|
|
(1.5)
|
|
(1.5)
|
|
-
|
|
8,914
|
|
8,353
|
|
6.7
|
|
6.7
|
|
-
|
International
|
3,403
|
|
3,896
|
|
(12.7)
|
|
3.8
|
|
(16.5)
|
|
6,758
|
|
7,654
|
|
(11.7)
|
|
3.8
|
|
(15.5)
|
|
7,946
|
|
8,509
|
|
(6.6)
|
|
1.0
|
|
(7.6)
|
|
15,672
|
|
16,007
|
|
(2.1)
|
|
5.3
|
|
(7.4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
3,013
|
|
3,199
|
|
(5.8)
|
|
(5.8)
|
|
-
|
|
5,975
|
|
6,354
|
|
(6.0)
|
|
(6.0)
|
|
-
|
International
|
3,345
|
|
4,043
|
|
(17.3)
|
|
(3.9)
|
|
(13.4)
|
|
6,641
|
|
7,948
|
|
(16.4)
|
|
(3.5)
|
|
(12.9)
|
|
6,358
|
|
7,242
|
|
(12.2)
|
|
(4.7)
|
|
(7.5)
|
|
12,616
|
|
14,302
|
|
(11.8)
|
|
(4.6)
|
|
(7.2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
8,911
|
|
9,132
|
|
(2.4)
|
|
(2.4)
|
|
-
|
|
17,603
|
|
17,336
|
|
1.5
|
|
1.5
|
|
-
|
International
|
8,876
|
|
10,363
|
|
(14.3)
|
|
0.5
|
|
(14.8)
|
|
17,558
|
|
20,274
|
|
(13.4)
|
|
0.6
|
|
(14.0)
|
Worldwide
|
$ 17,787
|
|
19,495
|
|
(8.8)
|
%
|
(0.9)
|
|
(7.9)
|
|
$ 35,161
|
|
37,610
|
|
(6.5)
|
%
|
1.1
|
|
(7.6)
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2015
|
|
2014
|
|
Total
|
|
Operations
|
|
Currency
|
|
2015
|
|
2014
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$ 8,911
|
|
9,132
|
|
(2.4)
|
%
|
(2.4)
|
|
-
|
|
$ 17,603
|
|
17,336
|
|
1.5
|
%
|
1.5
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
4,151
|
|
5,056
|
|
(17.9)
|
|
1.0
|
|
(18.9)
|
|
8,191
|
|
9,941
|
|
(17.6)
|
|
0.7
|
|
(18.3)
|
Western Hemisphere
excluding U.S.
|
1,501
|
|
1,863
|
|
(19.4)
|
|
(4.0)
|
|
(15.4)
|
|
3,140
|
|
3,558
|
|
(11.7)
|
|
2.6
|
|
(14.3)
|
Asia-Pacific,
Africa
|
3,224
|
|
3,444
|
|
(6.4)
|
|
2.2
|
|
(8.6)
|
|
6,227
|
|
6,775
|
|
(8.1)
|
|
(0.4)
|
|
(7.7)
|
International
|
8,876
|
|
10,363
|
|
(14.3)
|
|
0.5
|
|
(14.8)
|
|
17,558
|
|
20,274
|
|
(13.4)
|
|
0.6
|
|
(14.0)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
$ 17,787
|
|
19,495
|
|
(8.8)
|
%
|
(0.9)
|
|
(7.9)
|
|
$ 35,161
|
|
37,610
|
|
(6.5)
|
%
|
1.1
|
|
(7.6)
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
SECOND
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$ 17,787
|
|
100.0
|
|
$ 19,495
|
|
100.0
|
|
(8.8)
|
Cost of products
sold
|
5,357
|
|
30.1
|
|
6,039
|
|
31.0
|
|
(11.3)
|
Selling, marketing
and administrative expenses
|
5,384
|
|
30.3
|
|
5,481
|
|
28.1
|
|
(1.8)
|
Research and
development expense
|
2,129
|
|
12.0
|
|
2,005
|
|
10.3
|
|
6.2
|
In-process
research and development
|
-
|
|
-
|
|
4
|
|
0.0
|
|
|
Interest (income)
expense, net
|
107
|
|
0.6
|
|
114
|
|
0.6
|
|
|
Other (income)
expense, net
|
(931)
|
|
(5.3)
|
|
226
|
|
1.1
|
|
|
Earnings before
provision for taxes on income
|
5,741
|
|
32.3
|
|
5,626
|
|
28.9
|
|
2.0
|
Provision for
taxes on income
|
1,225
|
|
6.9
|
|
1,300
|
|
6.7
|
|
(5.8)
|
Net
earnings
|
$ 4,516
|
|
25.4
|
|
$ 4,326
|
|
22.2
|
|
4.4
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$ 1.61
|
|
|
|
$ 1.51
|
|
|
|
6.6
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,812.0
|
|
|
|
2,874.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
21.3
|
%
|
|
|
23.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$ 6,248
|
|
35.1
|
|
$ 6,524
|
|
33.5
|
|
(4.2)
|
Net
earnings
|
$ 4,812
|
|
27.1
|
|
$ 5,133
|
|
26.3
|
|
(6.3)
|
Net earnings per
share (Diluted)
|
$ 1.71
|
|
|
|
$ 1.78
|
|
|
|
(3.9)
|
Effective tax
rate
|
23.0
|
%
|
|
|
21.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$ 35,161
|
|
100.0
|
|
$ 37,610
|
|
100.0
|
|
(6.5)
|
Cost of products
sold
|
10,639
|
|
30.2
|
|
11,494
|
|
30.6
|
|
(7.4)
|
Selling, marketing
and administrative expenses
|
10,231
|
|
29.1
|
|
10,664
|
|
28.3
|
|
(4.1)
|
Research and
development expense
|
4,028
|
|
11.5
|
|
3,836
|
|
10.2
|
|
5.0
|
In-process
research and development
|
-
|
|
-
|
|
22
|
|
0.1
|
|
|
Interest (income)
expense, net
|
226
|
|
0.6
|
|
232
|
|
0.6
|
|
|
Other (income)
expense, net
|
(1,279)
|
|
(3.6)
|
|
312
|
|
0.8
|
|
|
Earnings before
provision for taxes on income
|
11,316
|
|
32.2
|
|
11,050
|
|
29.4
|
|
2.4
|
Provision for
taxes on income
|
2,480
|
|
7.1
|
|
1,997
|
|
5.3
|
|
24.2
|
Net
earnings
|
$ 8,836
|
|
25.1
|
|
$ 9,053
|
|
24.1
|
|
(2.4)
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$ 3.13
|
|
|
|
$ 3.15
|
|
|
|
(0.6)
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,821.0
|
|
|
|
2,875.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
21.9
|
%
|
|
|
18.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings
before provision for taxes on income
|
$ 11,878
|
|
33.8
|
|
$ 12,452
|
|
33.1
|
|
(4.6)
|
Net
earnings
|
$ 9,230
|
|
26.3
|
|
$ 9,826
|
|
26.1
|
|
(6.1)
|
Net
earnings per share (Diluted)
|
$ 3.27
|
|
|
|
$ 3.41
|
|
|
|
(4.1)
|
Effective
tax rate
|
22.3
|
%
|
|
|
21.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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)
|
2015
|
|
2014
|
|
(Decr.)
|
|
|
2015
|
|
2014
|
|
(Decr.)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as reported
|
$ 5,741
|
|
5,626
|
|
2.0
|
%
|
|
$ 11,316
|
|
11,050
|
|
2.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
318
|
|
474
|
|
|
|
|
630
|
|
842
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Litigation
expense/(gain), net
|
134
|
|
276
|
|
|
|
|
(268)
|
|
276
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Synthes integration
costs
|
49
|
|
144
|
|
|
|
|
81
|
|
262
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DePuy ASR™Hip
program
|
9
|
|
-
|
|
|
|
|
148
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In-process research
and development
|
-
|
|
4
|
|
|
|
|
-
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics divestiture net gain
|
(3)
|
|
-
|
|
|
|
|
(29)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as adjusted
|
$ 6,248
|
|
6,524
|
|
(4.2)
|
%
|
|
$ 11,878
|
|
12,452
|
|
(4.6)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings - as
reported
|
$ 4,516
|
|
4,326
|
|
4.4
|
%
|
|
$ 8,836
|
|
9,053
|
|
(2.4)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
230
|
|
358
|
|
|
|
|
456
|
|
625
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Litigation
expense/(gain), net
|
23
|
|
342
|
(1)
|
|
|
|
(230)
|
|
342
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Synthes integration
costs
|
37
|
|
104
|
|
|
|
|
62
|
|
188
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DePuy ASR™Hip
program
|
8
|
|
-
|
|
|
|
|
130
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In-process research
and development
|
-
|
|
3
|
|
|
|
|
-
|
|
16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax benefit
associated with Conor Medsystems
|
-
|
|
-
|
|
|
|
|
-
|
|
(398)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics divestiture net gain
|
(2)
|
|
-
|
|
|
|
|
(24)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings - as
adjusted
|
$ 4,812
|
|
5,133
|
|
(6.3)
|
%
|
|
$ 9,230
|
|
9,826
|
|
(6.1)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as reported
|
$ 1.61
|
|
1.51
|
|
6.6
|
%
|
|
$ 3.13
|
|
3.15
|
|
(0.6)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
0.08
|
|
0.12
|
|
|
|
|
0.16
|
|
0.21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Litigation
expense/(gain), net
|
0.01
|
|
0.12
|
|
|
|
|
(0.08)
|
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Synthes integration
costs
|
0.01
|
|
0.03
|
|
|
|
|
0.02
|
|
0.06
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DePuy ASR™Hip
program
|
-
|
|
-
|
|
|
|
|
0.05
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In-process research
and development
|
-
|
|
-
|
|
|
|
|
-
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax benefit
associated with Conor Medsystems
|
-
|
|
-
|
|
|
|
|
-
|
|
(0.14)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics divestiture net gain
|
-
|
|
-
|
|
|
|
|
(0.01)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as adjusted
|
$ 1.71
|
|
1.78
|
|
(3.9)
|
%
|
|
$ 3.27
|
|
3.41
|
|
(4.1)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted*
|
$ 1.90
|
|
1.78
|
|
6.7
|
%
|
|
$ 3.59
|
|
3.41
|
|
5.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*Excludes the effect
of translational currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Includes
adjustment to deferred tax asset related to deductibility by tax
jurisdiction
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Sales
Growth Excluding Acquisitions, Divestitures and Hepatitis C
(1)
|
SECOND
QUARTER 2015 ACTUAL vs. 2014 ACTUAL
|
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(2)
|
WW As
Reported:
|
|
2.3%
|
|
1.0%
|
|
(4.7)%
|
|
(0.9)%
|
U.S.
|
|
2.7%
|
|
(1.5)%
|
|
(5.8)%
|
|
(2.4)%
|
International
|
|
2.1%
|
|
3.8%
|
|
(3.9)%
|
|
0.5%
|
|
|
|
|
|
|
|
|
|
Wound Care /
Other
|
|
|
|
|
|
|
|
|
BENECOL
®
|
|
0.8
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
1.1
|
|
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
Diagnostics
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics
|
|
|
|
|
|
6.1
|
|
2.3
|
U.S.
|
|
|
|
|
|
7.4
|
|
2.5
|
International
|
|
|
|
|
|
5.3
|
|
2.0
|
|
|
|
|
|
|
|
|
|
Other
Neuroscience
|
|
|
|
|
|
|
|
|
NUCYNTA
®
|
|
|
|
0.5
|
|
|
|
0.2
|
U.S.
|
|
|
|
0.9
|
|
|
|
0.5
|
International
|
|
|
|
0.1
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.0
|
|
|
|
|
|
0.0
|
U.S.
|
|
0.2
|
|
|
|
|
|
0.0
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
3.1%
|
|
1.5%
|
|
1.4%
|
|
1.7%
|
U.S.
|
|
2.9%
|
|
(0.6)%
|
|
1.6%
|
|
0.6%
|
International
|
|
3.2%
|
|
3.9%
|
|
1.4%
|
|
2.7%
|
|
|
|
|
|
|
|
|
|
Hepatitis
C
|
|
|
|
8.2
|
|
|
|
3.3
|
U.S.
|
|
|
|
17.1
|
|
|
|
7.8
|
International
|
|
|
|
(1.4)
|
|
|
|
(0.6)
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions, Divestitures and Hepatitis C
|
|
3.1%
|
|
9.7%
|
|
1.4%
|
|
5.0%
|
U.S.
|
|
2.9%
|
|
16.5%
|
|
1.6%
|
|
8.4%
|
International
|
|
3.2%
|
|
2.5%
|
|
1.4%
|
|
2.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Hepatitis C includes OLYSIO ® /SOVRIAD
® and INCIVO ®
|
|
|
|
(2)Operational growth excludes the effect
of translational currency
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Sales
Growth Excluding Acquisitions, Divestitures and Hepatitis C
(1)
|
SIX MONTHS
2015 ACTUAL vs. 2014 ACTUAL
|
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(2)
|
WW As
Reported:
|
|
2.8%
|
|
5.3%
|
|
(4.6)%
|
|
1.1%
|
U.S.
|
|
3.2%
|
|
6.7%
|
|
(6.0)%
|
|
1.5%
|
International
|
|
2.6%
|
|
3.8%
|
|
(3.5)%
|
|
0.6%
|
|
|
|
|
|
|
|
|
|
Women's
Health
|
|
|
|
|
|
|
|
|
K-Y
®
|
|
0.5
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.8
|
|
|
|
|
|
0.1
|
International
|
|
0.3
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
Wound Care /
Other
|
|
|
|
|
|
|
|
|
BENECOL
®
|
|
0.7
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
1.1
|
|
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
Diagnostics
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics
|
|
|
|
|
|
6.0
|
|
2.3
|
U.S.
|
|
|
|
|
|
7.3
|
|
2.8
|
International
|
|
|
|
|
|
4.9
|
|
2.0
|
|
|
|
|
|
|
|
|
|
Other
Neuroscience
|
|
|
|
|
|
|
|
|
NUCYNTA
®
|
|
|
|
0.3
|
|
|
|
0.1
|
U.S.
|
|
|
|
0.6
|
|
|
|
0.2
|
International
|
|
|
|
0.0
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
(0.1)
|
|
|
|
|
|
0.0
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
(0.2)
|
|
|
|
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
3.9%
|
|
5.6%
|
|
1.4%
|
|
3.7%
|
U.S.
|
|
4.0%
|
|
7.3%
|
|
1.3%
|
|
4.6%
|
International
|
|
3.8%
|
|
3.8%
|
|
1.4%
|
|
2.9%
|
|
|
|
|
|
|
|
|
|
Hepatitis
C
|
|
|
|
5.7
|
|
|
|
2.2
|
U.S.
|
|
|
|
12.8
|
|
|
|
5.4
|
International
|
|
|
|
(1.2)
|
|
|
|
(0.5)
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions, Divestitures and Hepatitis C
|
|
3.9%
|
|
11.3%
|
|
1.4%
|
|
5.9%
|
U.S.
|
|
4.0%
|
|
20.1%
|
|
1.3%
|
|
10.0%
|
International
|
|
3.8%
|
|
2.6%
|
|
1.4%
|
|
2.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Hepatitis C includes OLYSIO ® /SOVRIAD
® and INCIVO ®
|
|
|
(2)Operational growth excludes the effect
of translational currency
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
CONSUMER SEGMENT
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
104
|
|
107
|
-2.8%
|
-2.8%
|
-
|
|
|
|
$
215
|
|
209
|
2.9%
|
2.9%
|
-
|
Intl
|
|
439
|
|
500
|
-12.2%
|
-1.0%
|
-11.2%
|
|
|
|
839
|
|
943
|
-11.0%
|
-0.9%
|
-10.1%
|
WW
|
|
543
|
|
607
|
-10.5%
|
-1.2%
|
-9.3%
|
|
|
|
1,054
|
|
1,152
|
-8.5%
|
-0.2%
|
-8.3%
|
ORAL CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
147
|
|
142
|
3.5%
|
3.5%
|
-
|
|
|
|
305
|
|
302
|
1.0%
|
1.0%
|
-
|
Intl
|
|
244
|
|
271
|
-10.0%
|
5.0%
|
-15.0%
|
|
|
|
489
|
|
522
|
-6.3%
|
6.9%
|
-13.2%
|
WW
|
|
391
|
|
413
|
-5.3%
|
4.5%
|
-9.8%
|
|
|
|
794
|
|
824
|
-3.6%
|
4.7%
|
-8.3%
|
OTC
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
366
|
|
316
|
15.8%
|
15.8%
|
-
|
|
|
|
771
|
|
682
|
13.0%
|
13.0%
|
-
|
Intl
|
|
608
|
|
687
|
-11.5%
|
4.7%
|
-16.2%
|
|
|
|
1,196
|
|
1,332
|
-10.2%
|
6.8%
|
-17.0%
|
WW
|
|
974
|
|
1,003
|
-2.9%
|
8.2%
|
-11.1%
|
|
|
|
1,967
|
|
2,014
|
-2.3%
|
9.0%
|
-11.3%
|
SKIN CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
491
|
|
506
|
-3.0%
|
-3.0%
|
-
|
|
|
|
983
|
|
963
|
2.1%
|
2.1%
|
-
|
Intl
|
|
403
|
|
462
|
-12.8%
|
1.2%
|
-14.0%
|
|
|
|
814
|
|
919
|
-11.4%
|
1.4%
|
-12.8%
|
WW
|
|
894
|
|
968
|
-7.6%
|
-0.9%
|
-6.7%
|
|
|
|
1,797
|
|
1,882
|
-4.5%
|
1.8%
|
-6.3%
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
7
|
|
11
|
-36.4%
|
-36.4%
|
-
|
|
|
|
13
|
|
35
|
-62.9%
|
-62.9%
|
-
|
Intl
|
|
313
|
|
331
|
-5.4%
|
11.4%
|
-16.8%
|
|
|
|
594
|
|
634
|
-6.3%
|
8.6%
|
-14.9%
|
WW
|
|
320
|
|
342
|
-6.4%
|
9.9%
|
-16.3%
|
|
|
|
607
|
|
669
|
-9.3%
|
4.8%
|
-14.1%
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
240
|
|
238
|
0.8%
|
0.8%
|
-
|
|
|
|
427
|
|
438
|
-2.5%
|
-2.5%
|
-
|
Intl
|
|
121
|
|
173
|
-30.1%
|
-19.2%
|
-10.9%
|
|
|
|
227
|
|
322
|
-29.5%
|
-19.4%
|
-10.1%
|
WW
|
|
361
|
|
411
|
-12.2%
|
-7.6%
|
-4.6%
|
|
|
|
654
|
|
760
|
-13.9%
|
-9.6%
|
-4.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CONSUMER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,355
|
|
1,320
|
2.7%
|
2.7%
|
-
|
|
|
|
2,714
|
|
2,629
|
3.2%
|
3.2%
|
-
|
Intl
|
|
2,128
|
|
2,424
|
-12.2%
|
2.1%
|
-14.3%
|
|
|
|
4,159
|
|
4,672
|
-11.0%
|
2.6%
|
-13.6%
|
WW
|
|
$ 3,483
|
|
3,744
|
-7.0%
|
2.3%
|
-9.3%
|
|
|
|
$
6,873
|
|
7,301
|
-5.9%
|
2.8%
|
-8.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
PHARMACEUTICAL
SEGMENT (2) (3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$ 1,876
|
|
1,853
|
1.2%
|
1.2%
|
-
|
|
|
|
$
3,631
|
|
3,400
|
6.8%
|
6.8%
|
-
|
Intl
|
|
678
|
|
778
|
-12.9%
|
3.4%
|
-16.3%
|
|
|
|
1,386
|
|
1,574
|
-11.9%
|
3.4%
|
-15.3%
|
WW
|
|
2,554
|
|
2,631
|
-2.9%
|
1.9%
|
-4.8%
|
|
|
|
5,017
|
|
4,974
|
0.9%
|
5.7%
|
-4.8%
|
REMICADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,088
|
|
1,021
|
6.6%
|
6.6%
|
-
|
|
|
|
2,143
|
|
2,018
|
6.2%
|
6.2%
|
-
|
US
Exports (4)
|
|
241
|
|
357
|
-32.5%
|
-32.5%
|
-
|
|
|
|
422
|
|
524
|
-19.5%
|
-19.5%
|
-
|
Intl
|
|
339
|
|
426
|
-20.4%
|
-6.6%
|
-13.8%
|
|
|
|
703
|
|
872
|
-19.4%
|
-6.4%
|
-13.0%
|
WW
|
|
1,668
|
|
1,804
|
-7.5%
|
-4.2%
|
-3.3%
|
|
|
|
3,268
|
|
3,414
|
-4.3%
|
-1.0%
|
-3.3%
|
SIMPONI / SIMPONI ARIA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
172
|
|
132
|
30.3%
|
30.3%
|
-
|
|
|
|
327
|
|
236
|
38.6%
|
38.6%
|
-
|
Intl
|
|
136
|
|
150
|
-9.3%
|
9.2%
|
-18.5%
|
|
|
|
281
|
|
305
|
-7.9%
|
9.5%
|
-17.4%
|
WW
|
|
308
|
|
282
|
9.2%
|
19.1%
|
-9.9%
|
|
|
|
608
|
|
541
|
12.4%
|
22.2%
|
-9.8%
|
STELARA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
375
|
|
343
|
9.3%
|
9.3%
|
-
|
|
|
|
739
|
|
622
|
18.8%
|
18.8%
|
-
|
Intl
|
|
195
|
|
185
|
5.4%
|
26.5%
|
-21.1%
|
|
|
|
380
|
|
362
|
5.0%
|
24.6%
|
-19.6%
|
WW
|
|
570
|
|
528
|
8.0%
|
15.4%
|
-7.4%
|
|
|
|
1,119
|
|
984
|
13.7%
|
20.9%
|
-7.2%
|
OTHER IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
8
|
|
17
|
-52.9%
|
-44.7%
|
-8.2%
|
|
|
|
22
|
|
35
|
-37.1%
|
-28.7%
|
-8.4%
|
WW
|
|
8
|
|
17
|
-52.9%
|
-44.7%
|
-8.2%
|
|
|
|
22
|
|
35
|
-37.1%
|
-28.7%
|
-8.4%
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
381
|
|
1,020
|
-62.6%
|
-62.6%
|
-
|
|
|
|
793
|
|
1,581
|
-49.8%
|
-49.8%
|
-
|
Intl
|
|
651
|
|
742
|
-12.3%
|
7.2%
|
-19.5%
|
|
|
|
1,214
|
|
1,381
|
-12.1%
|
5.9%
|
-18.0%
|
WW
|
|
1,032
|
|
1,762
|
-41.4%
|
-33.2%
|
-8.2%
|
|
|
|
2,007
|
|
2,962
|
-32.2%
|
-23.8%
|
-8.4%
|
EDURANT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
9
|
|
6
|
50.0%
|
50.0%
|
-
|
|
|
|
18
|
|
11
|
63.6%
|
63.6%
|
-
|
Intl
|
|
92
|
|
86
|
7.0%
|
32.1%
|
-25.1%
|
|
|
|
174
|
|
162
|
7.4%
|
31.4%
|
-24.0%
|
WW
|
|
101
|
|
92
|
9.8%
|
33.2%
|
-23.4%
|
|
|
|
192
|
|
173
|
11.0%
|
33.4%
|
-22.4%
|
OLYSIO / SOVRIAD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
50
|
|
725
|
-93.1%
|
-93.1%
|
-
|
|
|
|
148
|
|
1,016
|
-85.4%
|
-85.4%
|
-
|
Intl
|
|
214
|
|
106
|
*
|
*
|
**
|
|
|
|
350
|
|
169
|
*
|
*
|
**
|
WW
|
|
264
|
|
831
|
-68.2%
|
-62.5%
|
-5.7%
|
|
|
|
498
|
|
1,185
|
-58.0%
|
-51.7%
|
-6.3%
|
PREZISTA / PREZCOBIX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
258
|
|
239
|
7.9%
|
7.9%
|
-
|
|
|
|
492
|
|
453
|
8.6%
|
8.6%
|
-
|
Intl
|
|
190
|
|
253
|
-24.9%
|
-7.7%
|
-17.2%
|
|
|
|
383
|
|
484
|
-20.9%
|
-4.8%
|
-16.1%
|
WW
|
|
448
|
|
492
|
-8.9%
|
-0.1%
|
-8.8%
|
|
|
|
875
|
|
937
|
-6.6%
|
1.7%
|
-8.3%
|
OTHER INFECTIOUS DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
64
|
|
50
|
28.0%
|
28.0%
|
-
|
|
|
|
135
|
|
101
|
33.7%
|
33.7%
|
-
|
Intl
|
|
155
|
|
297
|
-47.8%
|
-36.9%
|
-10.9%
|
|
|
|
307
|
|
566
|
-45.8%
|
-35.8%
|
-10.0%
|
WW
|
|
219
|
|
347
|
-36.9%
|
-27.5%
|
-9.4%
|
|
|
|
442
|
|
667
|
-33.7%
|
-25.2%
|
-8.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
693
|
|
600
|
15.5%
|
15.5%
|
-
|
|
|
|
1,443
|
|
1,201
|
20.1%
|
20.1%
|
-
|
Intl
|
|
871
|
|
1,027
|
-15.2%
|
-0.2%
|
-15.0%
|
|
|
|
1,739
|
|
2,064
|
-15.7%
|
-1.7%
|
-14.0%
|
WW
|
|
1,564
|
|
1,627
|
-3.9%
|
5.6%
|
-9.5%
|
|
|
|
3,182
|
|
3,265
|
-2.5%
|
6.4%
|
-8.9%
|
CONCERTA / METHYLPHENIDATE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
102
|
|
28
|
*
|
*
|
-
|
|
|
|
228
|
|
63
|
*
|
*
|
-
|
Intl
|
|
104
|
|
117
|
-11.1%
|
2.7%
|
-13.8%
|
|
|
|
202
|
|
232
|
-12.9%
|
-0.3%
|
-12.6%
|
WW
|
|
206
|
|
145
|
42.1%
|
53.3%
|
-11.2%
|
|
|
|
430
|
|
295
|
45.8%
|
55.7%
|
-9.9%
|
INVEGA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
105
|
|
89
|
18.0%
|
18.0%
|
-
|
|
|
|
199
|
|
175
|
13.7%
|
13.7%
|
-
|
Intl
|
|
61
|
|
69
|
-11.6%
|
3.7%
|
-15.3%
|
|
|
|
122
|
|
148
|
-17.6%
|
-2.9%
|
-14.7%
|
WW
|
|
166
|
|
158
|
5.1%
|
11.8%
|
-6.7%
|
|
|
|
321
|
|
323
|
-0.6%
|
6.1%
|
-6.7%
|
INVEGA SUSTENNA / XEPLION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
253
|
|
202
|
25.2%
|
25.2%
|
-
|
|
|
|
481
|
|
384
|
25.3%
|
25.3%
|
-
|
Intl
|
|
183
|
|
192
|
-4.7%
|
14.6%
|
-19.3%
|
|
|
|
366
|
|
383
|
-4.4%
|
13.6%
|
-18.0%
|
WW
|
|
436
|
|
394
|
10.7%
|
20.1%
|
-9.4%
|
|
|
|
847
|
|
767
|
10.4%
|
19.4%
|
-9.0%
|
RISPERDAL CONSTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
99
|
|
110
|
-10.0%
|
-10.0%
|
-
|
|
|
|
203
|
|
216
|
-6.0%
|
-6.0%
|
-
|
Intl
|
|
148
|
|
192
|
-22.9%
|
-6.5%
|
-16.4%
|
|
|
|
298
|
|
396
|
-24.7%
|
-9.8%
|
-14.9%
|
WW
|
|
247
|
|
302
|
-18.2%
|
-7.8%
|
-10.4%
|
|
|
|
501
|
|
612
|
-18.1%
|
-8.5%
|
-9.6%
|
OTHER NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
134
|
|
171
|
-21.6%
|
-21.6%
|
-
|
|
|
|
332
|
|
363
|
-8.5%
|
-8.5%
|
-
|
Intl
|
|
375
|
|
457
|
-17.9%
|
-5.1%
|
-12.8%
|
|
|
|
751
|
|
905
|
-17.0%
|
-4.8%
|
-12.2%
|
WW
|
|
509
|
|
628
|
-18.9%
|
-9.6%
|
-9.3%
|
|
|
|
1,083
|
|
1,268
|
-14.6%
|
-5.9%
|
-8.7%
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
362
|
|
278
|
30.2%
|
30.2%
|
-
|
|
|
|
696
|
|
518
|
34.4%
|
34.4%
|
-
|
Intl
|
|
782
|
|
833
|
-6.1%
|
12.8%
|
-18.9%
|
|
|
|
1,556
|
|
1,615
|
-3.7%
|
14.1%
|
-17.8%
|
WW
|
|
1,144
|
|
1,111
|
3.0%
|
17.2%
|
-14.2%
|
|
|
|
2,252
|
|
2,133
|
5.6%
|
19.1%
|
-13.5%
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
89
|
|
33
|
*
|
*
|
-
|
|
|
|
155
|
|
39
|
*
|
*
|
-
|
Intl
|
|
65
|
|
9
|
*
|
*
|
**
|
|
|
|
115
|
|
13
|
*
|
*
|
**
|
WW
|
|
154
|
|
42
|
*
|
*
|
**
|
|
|
|
270
|
|
52
|
*
|
*
|
**
|
VELCADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
344
|
|
403
|
-14.6%
|
1.1%
|
-15.7%
|
|
|
|
683
|
|
811
|
-15.8%
|
-1.5%
|
-14.3%
|
WW
|
|
344
|
|
403
|
-14.6%
|
1.1%
|
-15.7%
|
|
|
|
683
|
|
811
|
-15.8%
|
-1.5%
|
-14.3%
|
ZYTIGA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
255
|
|
235
|
8.5%
|
8.5%
|
-
|
|
|
|
508
|
|
464
|
9.5%
|
9.5%
|
-
|
Intl
|
|
291
|
|
327
|
-11.0%
|
8.6%
|
-19.6%
|
|
|
|
594
|
|
610
|
-2.6%
|
16.8%
|
-19.4%
|
WW
|
|
546
|
|
562
|
-2.8%
|
8.6%
|
-11.4%
|
|
|
|
1,102
|
|
1,074
|
2.6%
|
13.6%
|
-11.0%
|
OTHER ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
18
|
|
10
|
80.0%
|
80.0%
|
-
|
|
|
|
33
|
|
15
|
*
|
*
|
-
|
Intl
|
|
82
|
|
94
|
-12.8%
|
5.3%
|
-18.1%
|
|
|
|
164
|
|
181
|
-9.4%
|
7.6%
|
-17.0%
|
WW
|
|
100
|
|
104
|
-3.8%
|
12.5%
|
-16.3%
|
|
|
|
197
|
|
196
|
0.5%
|
16.1%
|
-15.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
CARDIOVASCULAR /
METABOLISM / OTHER (5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,231
|
|
862
|
42.8%
|
42.8%
|
-
|
|
|
|
2,351
|
|
1,653
|
42.2%
|
42.2%
|
-
|
Intl
|
|
421
|
|
516
|
-18.4%
|
-6.6%
|
-11.8%
|
|
|
|
863
|
|
1,020
|
-15.4%
|
-3.7%
|
-11.7%
|
WW
|
|
1,652
|
|
1,378
|
19.9%
|
24.3%
|
-4.4%
|
|
|
|
3,214
|
|
2,673
|
20.2%
|
24.6%
|
-4.4%
|
XARELTO
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
472
|
|
361
|
30.7%
|
30.7%
|
-
|
|
|
|
913
|
|
680
|
34.3%
|
34.3%
|
-
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
|
-
|
|
-
|
-
|
-
|
-
|
WW
|
|
472
|
|
361
|
30.7%
|
30.7%
|
-
|
|
|
|
913
|
|
680
|
34.3%
|
34.3%
|
-
|
INVOKANA / INVOKAMET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
302
|
|
114
|
*
|
*
|
-
|
|
|
|
568
|
|
207
|
*
|
*
|
-
|
Intl
|
|
16
|
|
3
|
*
|
*
|
**
|
|
|
|
28
|
|
4
|
*
|
*
|
**
|
WW
|
|
318
|
|
117
|
*
|
*
|
**
|
|
|
|
596
|
|
211
|
*
|
*
|
**
|
PROCRIT / EPREX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
179
|
|
178
|
0.6%
|
0.6%
|
-
|
|
|
|
342
|
|
354
|
-3.4%
|
-3.4%
|
-
|
Intl
|
|
97
|
|
141
|
-31.2%
|
-18.7%
|
-12.5%
|
|
|
|
203
|
|
275
|
-26.2%
|
-13.3%
|
-12.9%
|
WW
|
|
276
|
|
319
|
-13.5%
|
-8.0%
|
-5.5%
|
|
|
|
545
|
|
629
|
-13.4%
|
-7.7%
|
-5.7%
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
278
|
|
209
|
33.0%
|
33.0%
|
-
|
|
|
|
528
|
|
412
|
28.2%
|
28.2%
|
-
|
Intl
|
|
308
|
|
372
|
-17.2%
|
-6.3%
|
-10.9%
|
|
|
|
632
|
|
741
|
-14.7%
|
-4.0%
|
-10.7%
|
WW
|
|
586
|
|
581
|
0.9%
|
7.9%
|
-7.0%
|
|
|
|
1,160
|
|
1,153
|
0.6%
|
7.5%
|
-6.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
4,543
|
|
4,613
|
-1.5%
|
-1.5%
|
-
|
|
|
|
8,914
|
|
8,353
|
6.7%
|
6.7%
|
-
|
Intl
|
|
3,403
|
|
3,896
|
-12.7%
|
3.8%
|
-16.5%
|
|
|
|
6,758
|
|
7,654
|
-11.7%
|
3.8%
|
-15.5%
|
WW
|
|
$ 7,946
|
|
8,509
|
-6.6%
|
1.0%
|
-7.6%
|
|
|
|
$
15,672
|
|
16,007
|
-2.1%
|
5.3%
|
-7.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
MEDICAL DEVICES
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CARDIOVASCULAR
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
235
|
|
214
|
9.8%
|
9.8%
|
-
|
|
|
|
$
463
|
|
419
|
10.5%
|
10.5%
|
-
|
Intl
|
|
309
|
|
353
|
-12.5%
|
1.7%
|
-14.2%
|
|
|
|
610
|
|
689
|
-11.5%
|
2.5%
|
-14.0%
|
WW
|
|
544
|
|
567
|
-4.1%
|
4.7%
|
-8.8%
|
|
|
|
1,073
|
|
1,108
|
-3.2%
|
5.5%
|
-8.7%
|
DIABETES
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
214
|
|
222
|
-3.6%
|
-3.6%
|
-
|
|
|
|
426
|
|
414
|
2.9%
|
2.9%
|
-
|
Intl
|
|
280
|
|
336
|
-16.7%
|
-1.2%
|
-15.5%
|
|
|
|
552
|
|
656
|
-15.9%
|
-0.3%
|
-15.6%
|
WW
|
|
494
|
|
558
|
-11.5%
|
-2.1%
|
-9.4%
|
|
|
|
978
|
|
1,070
|
-8.6%
|
0.9%
|
-9.5%
|
DIAGNOSTICS
(6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
232
|
**
|
**
|
-
|
|
|
|
-
|
|
456
|
**
|
**
|
-
|
Intl
|
|
16
|
|
229
|
-93.0%
|
-90.1%
|
-2.9%
|
|
|
|
46
|
|
448
|
-89.7%
|
-86.8%
|
-2.9%
|
WW
|
|
16
|
|
461
|
-96.5%
|
-95.0%
|
-1.5%
|
|
|
|
46
|
|
904
|
-94.9%
|
-93.5%
|
-1.4%
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,321
|
|
1,294
|
2.1%
|
2.1%
|
-
|
|
|
|
2,630
|
|
2,586
|
1.7%
|
1.7%
|
-
|
Intl
|
|
1,009
|
|
1,175
|
-14.1%
|
-0.4%
|
-13.7%
|
|
|
|
2,028
|
|
2,304
|
-12.0%
|
1.2%
|
-13.2%
|
WW
|
|
2,330
|
|
2,469
|
-5.6%
|
0.9%
|
-6.5%
|
|
|
|
4,658
|
|
4,890
|
-4.7%
|
1.5%
|
-6.2%
|
SPECIALTY SURGERY /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
438
|
|
424
|
3.3%
|
3.3%
|
-
|
|
|
|
855
|
|
841
|
1.7%
|
1.7%
|
-
|
Intl
|
|
441
|
|
481
|
-8.3%
|
5.6%
|
-13.9%
|
|
|
|
857
|
|
938
|
-8.6%
|
4.6%
|
-13.2%
|
WW
|
|
879
|
|
905
|
-2.9%
|
4.5%
|
-7.4%
|
|
|
|
1,712
|
|
1,779
|
-3.8%
|
3.2%
|
-7.0%
|
SURGICAL
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
562
|
|
551
|
2.0%
|
2.0%
|
-
|
|
|
|
1,105
|
|
1,090
|
1.4%
|
1.4%
|
-
|
Intl
|
|
887
|
|
1,024
|
-13.4%
|
0.0%
|
-13.4%
|
|
|
|
1,767
|
|
1,993
|
-11.3%
|
1.5%
|
-12.8%
|
WW
|
|
1,449
|
|
1,575
|
-8.0%
|
0.7%
|
-8.7%
|
|
|
|
2,872
|
|
3,083
|
-6.8%
|
1.5%
|
-8.3%
|
VISION
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
243
|
|
262
|
-7.3%
|
-7.3%
|
-
|
|
|
|
496
|
|
548
|
-9.5%
|
-9.5%
|
-
|
Intl
|
|
403
|
|
445
|
-9.4%
|
6.0%
|
-15.4%
|
|
|
|
781
|
|
920
|
-15.1%
|
-1.0%
|
-14.1%
|
WW
|
|
646
|
|
707
|
-8.6%
|
1.1%
|
-9.7%
|
|
|
|
1,277
|
|
1,468
|
-13.0%
|
-4.1%
|
-8.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3,013
|
|
3,199
|
-5.8%
|
-5.8%
|
-
|
|
|
|
5,975
|
|
6,354
|
-6.0%
|
-6.0%
|
-
|
Intl
|
|
3,345
|
|
4,043
|
-17.3%
|
-3.9%
|
-13.4%
|
|
|
|
6,641
|
|
7,948
|
-16.4%
|
-3.5%
|
-12.9%
|
WW
|
|
$ 6,358
|
|
7,242
|
-12.2%
|
-4.7%
|
-7.5%
|
|
|
|
$
12,616
|
|
14,302
|
-11.8%
|
-4.6%
|
-7.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Percentage greater
than 100%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
** Not
meaningful
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Operational
growth excludes the effect of translational currency
|
|
|
|
|
|
|
|
|
|
|
|
(2)
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Prior year
amounts have been reclassified to conform to current year product
disclosure
|
|
|
|
|
|
|
|
|
|
(4) Reported as U.S.
sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5) Previously
referred to as Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6) Reflects
Diagnostics divestiture June 30, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2015-second-quarter-results-300112823.html
SOURCE Johnson & Johnson