NEW BRUNSWICK, N.J.,
Oct. 13, 2015 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced sales of
$17.1 billion for the third quarter
of 2015, a decrease of 7.4% as compared to the third quarter of
2014. Operational sales results increased 0.8% and the
negative impact of currency was 8.2%. Domestic sales decreased
0.6%. International sales decreased 13.7%, reflecting operational
growth of 2.1% and a negative currency impact of 15.8%. Excluding
the net impact of acquisitions, divestitures and hepatitis C sales,
on an operational basis, worldwide sales increased 5.6%, domestic
sales increased 7.7% and international sales increased
3.8%.* Earlier today, the Company also announced
its Board of Directors has approved the repurchase of up to
$10 billion of the company's common
stock.
Net earnings and diluted earnings per share for the third
quarter of 2015 were $3.4 billion and
$1.20, respectively. Third
quarter 2015 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. Third
quarter 2014 net earnings included after-tax intangible
amortization expense of approximately $0.3
billion and a net gain 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 $4.2 billion
and adjusted diluted earnings per share were $1.49, representing decreases of 9.4% and 7.5%,
respectively, as compared to the same period in 2014.*
On an operational basis, adjusted diluted earnings per share
increased 1.2%.*
"New and core products drove solid underlying growth for Johnson
& Johnson in the quarter," said Alex
Gorsky, Chairman and Chief Executive Officer. "Consistent
with the plans we've laid out for the year, we're focusing our
portfolio and are advancing our innovation agenda to expand our
leadership position in key categories while seeking new
opportunities for growth. Our dedicated employees are committed to
improving healthcare and making a difference in the lives of
patients and consumers worldwide."
The Company increased its adjusted earnings guidance for
full-year 2015 to $6.15 - $6.20 per
share. The Company's guidance excludes the impact of
after-tax intangible amortization expense and special items.
Worldwide Consumer sales of $3.3
billion for the third quarter represented a decrease of 7.7%
versus the prior year, consisting of an operational increase of
3.1% and a negative impact from currency of 10.8%. Domestic sales
increased 8.9%; international sales decreased 15.7%, which
reflected an operational increase of 0.4% and a negative currency
impact of 16.1%. Excluding the net impact of acquisitions and
divestitures, on an operational basis, worldwide sales increased
4.0%, domestic sales increased 8.9% and international sales
increased 1.5%.*
Positive contributors to Consumer operational results were sales
of over-the-counter products including TYLENOL® and
MOTRIN® analgesics and ZYRTEC® allergy
medications; international feminine protection products;
AVEENO® and NEUTROGENA® skin care products;
and LISTERINE® oral care products.
During the quarter, the divestiture of the
SPLENDA® low calorie sweetener brand to Heartland
Food Products Group was completed. This completes the divestiture
of products within the nutritionals business.
Worldwide Pharmaceutical sales of $7.7
billion for the third quarter represented a decrease of 7.4%
versus the prior year with an operational decrease of 0.3% and a
negative impact from currency of 7.1%. Domestic sales decreased
4.5%; international sales decreased 11.1%, which reflected an
operational increase of 5.5% and a negative currency impact of
16.6%. Excluding the net impact of acquisitions, divestitures
and hepatitis C sales, on an operational basis, worldwide sales
increased 10.1%, domestic sales increased 11.5% and international
sales increased 8.5%.*
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®/SOVRIAD® (simeprevir) due to
competitive entrants. Strong growth in new products include
INVOKANA®/INVOKAMET® (canagliflozin), for the
treatment of adults with type 2 diabetes; 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
SIMPONI®/SIMPONI ARIA® (golimumab), biologics
approved for the treatment of a number of immune-mediated
inflammatory diseases; 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; CONCERTA®
(methylphenidate HCI), for the treatment of attention deficit
hyperactivity disorder; and
PREZCOBIX®/REZOLSTA® (darunavir/cobicistat)
for the treatment of human immunodeficiency virus
(HIV-1).
During the quarter, the U.S. Food and Drug Administration (FDA)
granted Priority Review for the Biologic License Application for
daratumumab for the treatment of double refractory multiple
myeloma. Additionally, the FDA approved EDURANT®
(rilpirivine), in combination with other anti-retroviral agents,
for treatment-naïve adolescent patients aged 12 to 18 years with
human immunodeficiency virus-1 (HIV-1) infection, as well as an
update to the SIMPONI ARIA® (golimumab for infusion)
label to include improvement in both physical and emotional
measures of health when treating moderately to severely active
rheumatoid arthritis. In the U.S., a supplemental new drug
application was submitted to the FDA for IMBRUVICA®
(ibrutinib) for use in treatment-naïve patients with chronic
lymphocytic leukemia. In addition, Marketing Authorization
Applications were submitted to the European Medicines Agency for
paliperidone palmitate once-every-three-months formulation for the
treatment of schizophrenia and daratumumab for the treatment of
patients with relapsed and refractory multiple myeloma. The
Committee for Medicinal Products for Human Use (CHMP) of the
European Medicines Agency has granted an accelerated assessment of
the daratumumab Marketing Authorization Application.
Worldwide Medical Devices sales of $6.1
billion for the third quarter represented a decrease of 7.3%
versus the prior year consisting of an operational increase of 0.9%
and a negative currency impact of 8.2%. Domestic sales increased
2.0%; international sales decreased 14.8%, which reflected an
operational increase of 0.1% and a negative currency impact of
14.9%. Excluding the net impact of acquisitions and divestitures,
on an operational basis, worldwide sales increased 1.3%, domestic
sales increased 2.0% and international sales increased
0.8%.*
Primary contributors to operational growth were sales of
ACUVUE® contact lenses in the Vision Care business;
endocutters in the Surgical Care business; sales of biosurgicals
and international energy products in the Specialty Surgery
business; and electrophysiology products in the Cardiovascular Care
business.
In October, subsequent to the third quarter, the Company
announced the completion of the divestiture of its Cordis business
to Cardinal Health 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 128,000 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; market conditions and the possibility that the
share repurchase program may be suspended or discontinued;
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)
|
THIRD
QUARTER
|
|
NINE
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.
|
$ 1,277
|
|
1,173
|
|
8.9
|
%
|
8.9
|
|
-
|
|
$ 3,991
|
|
3,802
|
|
5.0
|
%
|
5.0
|
|
-
|
International
|
2,037
|
|
2,416
|
|
(15.7)
|
|
0.4
|
|
(16.1)
|
|
6,196
|
|
7,088
|
|
(12.6)
|
|
1.9
|
|
(14.5)
|
|
3,314
|
|
3,589
|
|
(7.7)
|
|
3.1
|
|
(10.8)
|
|
10,187
|
|
10,890
|
|
(6.5)
|
|
2.9
|
|
(9.4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
4,509
|
|
4,723
|
|
(4.5)
|
|
(4.5)
|
|
-
|
|
13,423
|
|
13,076
|
|
2.7
|
|
2.7
|
|
-
|
International
|
3,185
|
|
3,584
|
|
(11.1)
|
|
5.5
|
|
(16.6)
|
|
9,943
|
|
11,238
|
|
(11.5)
|
|
4.3
|
|
(15.8)
|
|
7,694
|
|
8,307
|
|
(7.4)
|
|
(0.3)
|
|
(7.1)
|
|
23,366
|
|
24,314
|
|
(3.9)
|
|
3.4
|
|
(7.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
3,005
|
|
2,946
|
|
2.0
|
|
2.0
|
|
-
|
|
8,980
|
|
9,300
|
|
(3.4)
|
|
(3.4)
|
|
-
|
International
|
3,089
|
|
3,625
|
|
(14.8)
|
|
0.1
|
|
(14.9)
|
|
9,730
|
|
11,573
|
|
(15.9)
|
|
(2.4)
|
|
(13.5)
|
|
6,094
|
|
6,571
|
|
(7.3)
|
|
0.9
|
|
(8.2)
|
|
18,710
|
|
20,873
|
|
(10.4)
|
|
(2.9)
|
|
(7.5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
8,791
|
|
8,842
|
|
(0.6)
|
|
(0.6)
|
|
-
|
|
26,394
|
|
26,178
|
|
0.8
|
|
0.8
|
|
-
|
International
|
8,311
|
|
9,625
|
|
(13.7)
|
|
2.1
|
|
(15.8)
|
|
25,869
|
|
29,899
|
|
(13.5)
|
|
1.1
|
|
(14.6)
|
Worldwide
|
$ 17,102
|
|
18,467
|
|
(7.4)
|
%
|
0.8
|
|
(8.2)
|
|
$ 52,263
|
|
56,077
|
|
(6.8)
|
%
|
1.0
|
|
(7.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2015
|
|
2014
|
|
Total
|
|
Operations
|
Currency
|
|
2015
|
|
2014
|
|
Total
|
|
Operations
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$ 8,791
|
|
8,842
|
|
(0.6)
|
%
|
(0.6)
|
|
-
|
|
$ 26,394
|
|
26,178
|
|
0.8
|
%
|
0.8
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
3,802
|
|
4,446
|
|
(14.5)
|
|
2.7
|
|
(17.2)
|
|
11,993
|
|
14,387
|
|
(16.6)
|
|
1.3
|
|
(17.9)
|
Western Hemisphere
excluding U.S.
|
1,463
|
|
1,820
|
|
(19.6)
|
|
2.7
|
|
(22.3)
|
|
4,603
|
|
5,378
|
|
(14.4)
|
|
2.6
|
|
(17.0)
|
Asia-Pacific,
Africa
|
3,046
|
|
3,359
|
|
(9.3)
|
|
1.2
|
|
(10.5)
|
|
9,273
|
|
10,134
|
|
(8.5)
|
|
0.1
|
|
(8.6)
|
International
|
8,311
|
|
9,625
|
|
(13.7)
|
|
2.1
|
|
(15.8)
|
|
25,869
|
|
29,899
|
|
(13.5)
|
|
1.1
|
|
(14.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
$ 17,102
|
|
18,467
|
|
(7.4)
|
%
|
0.8
|
|
(8.2)
|
|
$ 52,263
|
|
56,077
|
|
(6.8)
|
%
|
1.0
|
|
(7.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
THIRD
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
Percent
|
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
|
Sales to
customers
|
$ 17,102
|
|
100.0
|
|
$ 18,467
|
|
100.0
|
|
(7.4)
|
|
Cost of products
sold
|
5,224
|
|
30.5
|
|
5,399
|
|
29.2
|
|
(3.2)
|
|
Selling, marketing
and administrative expenses
|
5,081
|
|
29.7
|
|
5,468
|
|
29.6
|
|
(7.1)
|
|
Research and
development expense
|
2,154
|
|
12.6
|
|
2,023
|
|
11.0
|
|
6.5
|
|
In-process
research and development
|
10
|
|
0.1
|
|
-
|
|
-
|
|
|
|
Interest (income)
expense, net
|
91
|
|
0.5
|
|
112
|
|
0.6
|
|
|
|
Other (income)
expense, net
|
420
|
|
2.5
|
|
(1,345)
|
|
(7.3)
|
|
|
|
Earnings before
provision for taxes on income
|
4,122
|
|
24.1
|
|
6,810
|
|
36.9
|
|
(39.5)
|
|
Provision for
taxes on income
|
764
|
|
4.5
|
|
2,061
|
|
11.2
|
|
(62.9)
|
|
Net
earnings
|
$ 3,358
|
|
19.6
|
|
$ 4,749
|
|
25.7
|
|
(29.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$ 1.20
|
|
|
|
$ 1.66
|
|
|
|
(27.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,807.2
|
|
|
|
2,864.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
18.5
|
%
|
|
|
30.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net
earnings(1)
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$ 5,212
|
|
30.5
|
|
$ 6,077
|
|
32.9
|
|
(14.2)
|
|
Net
earnings
|
$ 4,172
|
|
24.4
|
|
$ 4,605
|
|
24.9
|
|
(9.4)
|
|
Net earnings per
share (Diluted)
|
$ 1.49
|
|
|
|
$ 1.61
|
|
|
|
(7.5)
|
|
Effective tax
rate
|
20.0
|
%
|
|
|
24.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
NINE
MONTHS
|
|
|
|
|
|
|
|
|
|
|
|
2015
|
|
2014
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$ 52,263
|
|
100.0
|
|
$ 56,077
|
|
100.0
|
|
(6.8)
|
Cost of products
sold
|
15,863
|
|
30.4
|
|
16,893
|
|
30.1
|
|
(6.1)
|
Selling, marketing
and administrative expenses
|
15,312
|
|
29.3
|
|
16,132
|
|
28.8
|
|
(5.1)
|
Research and
development expense
|
6,182
|
|
11.8
|
|
5,859
|
|
10.5
|
|
5.5
|
In-process
research and development
|
10
|
|
0.0
|
|
22
|
|
0.0
|
|
|
Interest (income)
expense, net
|
317
|
|
0.6
|
|
344
|
|
0.6
|
|
|
Other (income)
expense, net
|
(859)
|
|
(1.6)
|
|
(1,033)
|
|
(1.8)
|
|
|
Earnings before
provision for taxes on income
|
15,438
|
|
29.5
|
|
17,860
|
|
31.8
|
|
(13.6)
|
Provision for
taxes on income
|
3,244
|
|
6.2
|
|
4,058
|
|
7.2
|
|
(20.1)
|
Net
earnings
|
$ 12,194
|
|
23.3
|
|
$ 13,802
|
|
24.6
|
|
(11.7)
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$ 4.33
|
|
|
|
$ 4.81
|
|
|
|
(10.0)
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,817.1
|
|
|
|
2,871.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
21.0
|
%
|
|
|
22.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net
earnings(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$ 17,090
|
|
32.7
|
|
$ 18,529
|
|
33.0
|
|
(7.8)
|
Net
earnings
|
$ 13,402
|
|
25.6
|
|
$ 14,431
|
|
25.7
|
|
(7.1)
|
Net earnings per
share (Diluted)
|
$ 4.76
|
|
|
|
$ 5.02
|
|
|
|
(5.2)
|
Effective tax
rate
|
21.6
|
%
|
|
|
22.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third
Quarter
|
|
% Incr. /
|
|
|
Nine 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
|
$ 4,122
|
|
6,810
|
|
(39.5)
|
%
|
|
$ 15,438
|
|
17,860
|
|
(13.6)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
639
|
|
417
|
|
|
|
|
1,269
|
|
1,259
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics divestiture net gain
|
-
|
|
(1,948)
|
|
|
|
|
(29)
|
|
(1,948)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Litigation expense,
net
|
409
|
|
285
|
|
|
|
|
141
|
|
561
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional year of
Branded Prescription Drug Fee
|
-
|
|
220
|
|
|
|
|
-
|
|
220
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Synthes integration
costs
|
32
|
|
167
|
|
|
|
|
113
|
|
429
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In-process research
and development
|
10
|
|
-
|
|
|
|
|
10
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DePuy
ASRTMHip program
|
-
|
|
126
|
|
|
|
|
148
|
|
126
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as adjusted
|
$ 5,212
|
|
6,077
|
|
(14.2)
|
%
|
|
$ 17,090
|
|
18,529
|
|
(7.8)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings - as
reported
|
$ 3,358
|
|
4,749
|
|
(29.3)
|
%
|
|
$ 12,194
|
|
13,802
|
|
(11.7)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
437
|
|
313
|
|
|
|
|
893
|
|
938
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics divestiture net gain
|
-
|
|
(1,149)
|
|
|
|
|
(24)
|
|
(1,149)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Litigation expense,
net
|
348
|
|
231
|
|
|
|
|
118
|
|
573
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional year of
Branded Prescription Drug Fee
|
-
|
|
220
|
|
|
|
|
-
|
|
220
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Synthes integration
costs
|
23
|
|
130
|
|
|
|
|
85
|
|
318
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In-process research
and development
|
6
|
|
-
|
|
|
|
|
6
|
|
16
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DePuy
ASRTMHip program
|
-
|
|
111
|
|
|
|
|
130
|
|
111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax benefit
associated with Conor Medsystems
|
-
|
|
-
|
|
|
|
|
-
|
|
(398)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings - as
adjusted
|
$ 4,172
|
|
4,605
|
|
(9.4)
|
%
|
|
$ 13,402
|
|
14,431
|
|
(7.1)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as reported
|
$ 1.20
|
|
1.66
|
|
(27.7)
|
%
|
|
$ 4.33
|
|
4.81
|
|
(10.0)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
0.16
|
|
0.11
|
|
|
|
|
0.32
|
|
0.32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics divestiture net gain
|
-
|
|
(0.40)
|
|
|
|
|
(0.01)
|
|
(0.40)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Litigation expense,
net
|
0.12
|
|
0.08
|
|
|
|
|
0.04
|
|
0.19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional year of
Branded Prescription Drug Fee
|
-
|
|
0.08
|
|
|
|
|
-
|
|
0.08
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Synthes integration
costs
|
0.01
|
|
0.04
|
|
|
|
|
0.03
|
|
0.11
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In-process research
and development
|
-
|
|
-
|
|
|
|
|
-
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DePuy
ASRTMHip program
|
-
|
|
0.04
|
|
|
|
|
0.05
|
|
0.04
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax benefit
associated with Conor Medsystems
|
-
|
|
-
|
|
|
|
|
-
|
|
(0.14)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as adjusted
|
$ 1.49
|
|
1.61
|
|
(7.5)
|
%
|
|
$ 4.76
|
|
5.02
|
|
(5.2)
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted*
|
$ 1.63
|
|
1.61
|
|
1.2
|
%
|
|
$ 5.22
|
|
5.02
|
|
4.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*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
Sales(1)
|
THIRD
QUARTER 2015 ACTUAL vs. 2014 ACTUAL
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(2)
|
WW As
Reported:
|
|
3.1%
|
|
(0.3)%
|
|
0.9%
|
|
0.8%
|
U.S.
|
|
8.9%
|
|
(4.5)%
|
|
2.0%
|
|
(0.6)%
|
International
|
|
0.4%
|
|
5.5%
|
|
0.1%
|
|
2.1%
|
|
|
|
|
|
|
|
|
|
Wound Care /
Other
|
|
|
|
|
|
|
|
|
BENECOL
®
|
|
0.8
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
1.0
|
|
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
Diagnostics
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics
|
|
|
|
|
|
0.3
|
|
0.1
|
U.S.
|
|
|
|
|
|
0.0
|
|
0.0
|
International
|
|
|
|
|
|
0.5
|
|
0.2
|
|
|
|
|
|
|
|
|
|
Other
Neuroscience
|
|
|
|
|
|
|
|
|
NUCYNTA
®
|
|
|
|
0.4
|
|
|
|
0.2
|
U.S.
|
|
|
|
0.6
|
|
|
|
0.4
|
International
|
|
|
|
0.0
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.1
|
|
|
|
0.1
|
|
0.1
|
U.S.
|
|
0.0
|
|
|
|
0.0
|
|
0.0
|
International
|
|
0.1
|
|
|
|
0.2
|
|
0.1
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
4.0%
|
|
0.1%
|
|
1.3%
|
|
1.3%
|
U.S.
|
|
8.9%
|
|
(3.9)%
|
|
2.0%
|
|
(0.2)%
|
International
|
|
1.5%
|
|
5.5%
|
|
0.8%
|
|
2.6%
|
|
|
|
|
|
|
|
|
|
Hepatitis
C
|
|
|
|
10.0
|
|
|
|
4.3
|
U.S.
|
|
|
|
15.4
|
|
|
|
7.9
|
International
|
|
|
|
3.0
|
|
|
|
1.2
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Hepatitis C only
|
|
|
|
9.7%
|
|
|
|
5.1%
|
U.S.
|
|
|
|
10.9%
|
|
|
|
7.3%
|
International
|
|
|
|
8.5%
|
|
|
|
3.3%
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions, Divestitures and Hepatitis C
|
|
4.0%
|
|
10.1%
|
|
1.3%
|
|
5.6%
|
U.S.
|
|
8.9%
|
|
11.5%
|
|
2.0%
|
|
7.7%
|
International
|
|
1.5%
|
|
8.5%
|
|
0.8%
|
|
3.8%
|
|
|
|
|
|
|
|
|
|
(1)Hepatitis C products include 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
Sales(1)
|
NINE MONTHS
2015 ACTUAL vs. 2014 ACTUAL
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(2)
|
WW As
Reported:
|
|
2.9%
|
|
3.4%
|
|
(2.9)%
|
|
1.0%
|
U.S.
|
|
5.0%
|
|
2.7%
|
|
(3.4)%
|
|
0.8%
|
International
|
|
1.9%
|
|
4.3%
|
|
(2.4)%
|
|
1.1%
|
|
|
|
|
|
|
|
|
|
Women's
Health
|
|
|
|
|
|
|
|
|
K-Y
®
|
|
0.3
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.5
|
|
|
|
|
|
0.1
|
International
|
|
0.2
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
Wound Care /
Other
|
|
|
|
|
|
|
|
|
BENECOL
®
|
|
0.8
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
1.1
|
|
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
Diagnostics
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics
|
|
|
|
|
|
4.2
|
|
1.6
|
U.S.
|
|
|
|
|
|
4.9
|
|
1.8
|
International
|
|
|
|
|
|
3.6
|
|
1.4
|
|
|
|
|
|
|
|
|
|
Other
Neuroscience
|
|
|
|
|
|
|
|
|
NUCYNTA
®
|
|
|
|
0.3
|
|
|
|
0.1
|
U.S.
|
|
|
|
0.5
|
|
|
|
0.3
|
International
|
|
|
|
0.0
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
(0.1)
|
|
|
|
0.1
|
|
0.0
|
U.S.
|
|
0.0
|
|
|
|
0.0
|
|
0.0
|
International
|
|
(0.2)
|
|
|
|
0.1
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
3.9%
|
|
3.7%
|
|
1.4%
|
|
2.9%
|
U.S.
|
|
5.5%
|
|
3.2%
|
|
1.5%
|
|
3.0%
|
International
|
|
3.0%
|
|
4.3%
|
|
1.3%
|
|
2.9%
|
|
|
|
|
|
|
|
|
|
Hepatitis
C
|
|
|
|
7.3
|
|
|
|
3.0
|
U.S.
|
|
|
|
13.9
|
|
|
|
6.5
|
International
|
|
|
|
0.2
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Hepatitis C only
|
|
|
|
10.7%
|
|
|
|
4.0%
|
U.S.
|
|
|
|
16.6%
|
|
|
|
7.3%
|
International
|
|
|
|
4.5%
|
|
|
|
1.1%
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions, Divestitures and Hepatitis C
|
|
3.9%
|
|
11.0%
|
|
1.4%
|
|
5.9%
|
U.S.
|
|
5.5%
|
|
17.1%
|
|
1.5%
|
|
9.5%
|
International
|
|
3.0%
|
|
4.5%
|
|
1.3%
|
|
2.9%
|
|
|
|
|
|
|
|
|
|
(1)Hepatitis C products include OLYSIO ®
/SOVRIAD ® and INCIVO ® (2)Operational growth
excludes the effect of translational currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
CONSUMER SEGMENT
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
103
|
|
102
|
1.0%
|
1.0%
|
-
|
|
|
$
318
|
|
311
|
2.3%
|
2.3%
|
-
|
Intl
|
|
403
|
|
461
|
-12.6%
|
2.1%
|
-14.7%
|
|
|
1,242
|
|
1,404
|
-11.5%
|
0.1%
|
-11.6%
|
WW
|
|
506
|
|
563
|
-10.1%
|
2.0%
|
-12.1%
|
|
|
1,560
|
|
1,715
|
-9.0%
|
0.5%
|
-9.5%
|
ORAL CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
154
|
|
148
|
4.1%
|
4.1%
|
-
|
|
|
459
|
|
450
|
2.0%
|
2.0%
|
-
|
Intl
|
|
224
|
|
261
|
-14.2%
|
3.2%
|
-17.4%
|
|
|
713
|
|
783
|
-8.9%
|
5.7%
|
-14.6%
|
WW
|
|
378
|
|
409
|
-7.6%
|
3.5%
|
-11.1%
|
|
|
1,172
|
|
1,233
|
-4.9%
|
4.4%
|
-9.3%
|
OTC
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
383
|
|
313
|
22.4%
|
22.4%
|
-
|
|
|
1,154
|
|
995
|
16.0%
|
16.0%
|
-
|
Intl
|
|
580
|
|
706
|
-17.8%
|
-0.7%
|
-17.1%
|
|
|
1,776
|
|
2,038
|
-12.9%
|
4.1%
|
-17.0%
|
WW
|
|
963
|
|
1,019
|
-5.5%
|
6.3%
|
-11.8%
|
|
|
2,930
|
|
3,033
|
-3.4%
|
8.1%
|
-11.5%
|
SKIN CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
435
|
|
400
|
8.8%
|
8.8%
|
-
|
|
|
1,418
|
|
1,363
|
4.0%
|
4.0%
|
-
|
Intl
|
|
428
|
|
520
|
-17.7%
|
-2.3%
|
-15.4%
|
|
|
1,242
|
|
1,439
|
-13.7%
|
0.1%
|
-13.8%
|
WW
|
|
863
|
|
920
|
-6.2%
|
2.5%
|
-8.7%
|
|
|
2,660
|
|
2,802
|
-5.1%
|
2.0%
|
-7.1%
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
6
|
|
8
|
-25.0%
|
-25.0%
|
-
|
|
|
19
|
|
43
|
-55.8%
|
-55.8%
|
-
|
Intl
|
|
304
|
|
317
|
-4.1%
|
14.2%
|
-18.3%
|
|
|
898
|
|
951
|
-5.6%
|
10.4%
|
-16.0%
|
WW
|
|
310
|
|
325
|
-4.6%
|
13.3%
|
-17.9%
|
|
|
917
|
|
994
|
-7.7%
|
7.6%
|
-15.3%
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
196
|
|
202
|
-3.0%
|
-3.0%
|
-
|
|
|
623
|
|
640
|
-2.7%
|
-2.7%
|
-
|
Intl
|
|
98
|
|
151
|
-35.1%
|
-23.9%
|
-11.2%
|
|
|
325
|
|
473
|
-31.3%
|
-20.8%
|
-10.5%
|
WW
|
|
294
|
|
353
|
-16.7%
|
-11.9%
|
-4.8%
|
|
|
948
|
|
1,113
|
-14.8%
|
-10.3%
|
-4.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CONSUMER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,277
|
|
1,173
|
8.9%
|
8.9%
|
-
|
|
|
3,991
|
|
3,802
|
5.0%
|
5.0%
|
-
|
Intl
|
|
2,037
|
|
2,416
|
-15.7%
|
0.4%
|
-16.1%
|
|
|
6,196
|
|
7,088
|
-12.6%
|
1.9%
|
-14.5%
|
WW
|
|
$ 3,314
|
|
3,589
|
-7.7%
|
3.1%
|
-10.8%
|
|
|
$ 10,187
|
|
10,890
|
-6.5%
|
2.9%
|
-9.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
PHARMACEUTICAL
SEGMENT (2) (3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$ 1,910
|
|
1,895
|
0.8%
|
0.8%
|
-
|
|
|
$
5,541
|
|
5,295
|
4.6%
|
4.6%
|
-
|
Intl
|
|
704
|
|
746
|
-5.6%
|
13.5%
|
-19.1%
|
|
|
2,090
|
|
2,320
|
-9.9%
|
6.6%
|
-16.5%
|
WW
|
|
2,614
|
|
2,641
|
-1.0%
|
4.4%
|
-5.4%
|
|
|
7,631
|
|
7,615
|
0.2%
|
5.2%
|
-5.0%
|
REMICADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,117
|
|
1,085
|
2.9%
|
2.9%
|
-
|
|
|
3,260
|
|
3,103
|
5.1%
|
5.1%
|
-
|
US Exports
(4)
|
|
180
|
|
310
|
-41.9%
|
-41.9%
|
-
|
|
|
602
|
|
834
|
-27.8%
|
-27.8%
|
-
|
Intl
|
|
316
|
|
387
|
-18.3%
|
-1.6%
|
-16.7%
|
|
|
1,019
|
|
1,259
|
-19.1%
|
-5.0%
|
-14.1%
|
WW
|
|
1,613
|
|
1,782
|
-9.5%
|
-5.9%
|
-3.6%
|
|
|
4,881
|
|
5,196
|
-6.1%
|
-2.7%
|
-3.4%
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
199
|
|
144
|
38.2%
|
38.2%
|
-
|
|
|
526
|
|
380
|
38.4%
|
38.4%
|
-
|
Intl
|
|
181
|
|
156
|
16.0%
|
40.7%
|
-24.7%
|
|
|
462
|
|
461
|
0.2%
|
20.1%
|
-19.9%
|
WW
|
|
380
|
|
300
|
26.7%
|
39.6%
|
-12.9%
|
|
|
988
|
|
841
|
17.5%
|
28.4%
|
-10.9%
|
STELARA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
414
|
|
356
|
16.3%
|
16.3%
|
-
|
|
|
1,153
|
|
978
|
17.9%
|
17.9%
|
-
|
Intl
|
|
199
|
|
187
|
6.4%
|
26.3%
|
-19.9%
|
|
|
579
|
|
549
|
5.5%
|
25.2%
|
-19.7%
|
WW
|
|
613
|
|
543
|
12.9%
|
19.7%
|
-6.8%
|
|
|
1,732
|
|
1,527
|
13.4%
|
20.5%
|
-7.1%
|
OTHER
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
8
|
|
16
|
-50.0%
|
-37.2%
|
-12.8%
|
|
|
30
|
|
51
|
-41.2%
|
-31.4%
|
-9.8%
|
WW
|
|
8
|
|
16
|
-50.0%
|
-37.2%
|
-12.8%
|
|
|
30
|
|
51
|
-41.2%
|
-31.4%
|
-9.8%
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
379
|
|
967
|
-60.8%
|
-60.8%
|
-
|
|
|
1,172
|
|
2,548
|
-54.0%
|
-54.0%
|
-
|
Intl
|
|
469
|
|
594
|
-21.0%
|
-5.7%
|
-15.3%
|
|
|
1,683
|
|
1,975
|
-14.8%
|
2.4%
|
-17.2%
|
WW
|
|
848
|
|
1,561
|
-45.7%
|
-39.9%
|
-5.8%
|
|
|
2,855
|
|
4,523
|
-36.9%
|
-29.4%
|
-7.5%
|
EDURANT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
11
|
|
7
|
57.1%
|
57.1%
|
-
|
|
|
29
|
|
18
|
61.1%
|
61.1%
|
-
|
Intl
|
|
100
|
|
95
|
5.3%
|
25.4%
|
-20.1%
|
|
|
274
|
|
257
|
6.6%
|
29.1%
|
-22.5%
|
WW
|
|
111
|
|
102
|
8.8%
|
27.6%
|
-18.8%
|
|
|
303
|
|
275
|
10.2%
|
31.3%
|
-21.1%
|
OLYSIO /
SOVRIAD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
26
|
|
671
|
-96.1%
|
-96.1%
|
-
|
|
|
174
|
|
1,687
|
-89.7%
|
-89.7%
|
-
|
Intl
|
|
53
|
|
125
|
-57.6%
|
-49.5%
|
-8.1%
|
|
|
403
|
|
294
|
37.1%
|
66.0%
|
-28.9%
|
WW
|
|
79
|
|
796
|
-90.1%
|
-88.8%
|
-1.3%
|
|
|
577
|
|
1,981
|
-70.9%
|
-66.6%
|
-4.3%
|
PREZISTA / PREZCOBIX
/ REZOLSTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
285
|
|
234
|
21.8%
|
21.8%
|
-
|
|
|
777
|
|
687
|
13.1%
|
13.1%
|
-
|
Intl
|
|
183
|
|
212
|
-13.7%
|
4.3%
|
-18.0%
|
|
|
566
|
|
696
|
-18.7%
|
-2.0%
|
-16.7%
|
WW
|
|
468
|
|
446
|
4.9%
|
13.4%
|
-8.5%
|
|
|
1,343
|
|
1,383
|
-2.9%
|
5.5%
|
-8.4%
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
57
|
|
55
|
3.6%
|
3.6%
|
-
|
|
|
192
|
|
156
|
23.1%
|
23.1%
|
-
|
Intl
|
|
133
|
|
162
|
-17.9%
|
-3.4%
|
-14.5%
|
|
|
440
|
|
728
|
-39.6%
|
-28.6%
|
-11.0%
|
WW
|
|
190
|
|
217
|
-12.4%
|
-1.6%
|
-10.8%
|
|
|
632
|
|
884
|
-28.5%
|
-19.4%
|
-9.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
655
|
|
606
|
8.1%
|
8.1%
|
-
|
|
|
2,098
|
|
1,807
|
16.1%
|
16.1%
|
-
|
Intl
|
|
821
|
|
965
|
-14.9%
|
0.4%
|
-15.3%
|
|
|
2,560
|
|
3,029
|
-15.5%
|
-1.1%
|
-14.4%
|
WW
|
|
1,476
|
|
1,571
|
-6.0%
|
3.4%
|
-9.4%
|
|
|
4,658
|
|
4,836
|
-3.7%
|
5.3%
|
-9.0%
|
CONCERTA /
METHYLPHENIDATE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
89
|
|
34
|
*
|
*
|
-
|
|
|
317
|
|
97
|
*
|
*
|
-
|
Intl
|
|
89
|
|
101
|
-11.9%
|
3.9%
|
-15.8%
|
|
|
291
|
|
333
|
-12.6%
|
0.9%
|
-13.5%
|
WW
|
|
178
|
|
135
|
31.9%
|
43.7%
|
-11.8%
|
|
|
608
|
|
430
|
41.4%
|
51.9%
|
-10.5%
|
INVEGA /
PALIPERIDONE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
82
|
|
89
|
-7.9%
|
-7.9%
|
-
|
|
|
281
|
|
264
|
6.4%
|
6.4%
|
-
|
Intl
|
|
57
|
|
67
|
-14.9%
|
-0.4%
|
-14.5%
|
|
|
179
|
|
215
|
-16.7%
|
-2.1%
|
-14.6%
|
WW
|
|
139
|
|
156
|
-10.9%
|
-4.7%
|
-6.2%
|
|
|
460
|
|
479
|
-4.0%
|
2.6%
|
-6.6%
|
INVEGA SUSTENNA /
XEPLION / INVEGA TRINZA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
277
|
|
215
|
28.8%
|
28.8%
|
-
|
|
|
758
|
|
599
|
26.5%
|
26.5%
|
-
|
Intl
|
|
182
|
|
188
|
-3.2%
|
14.9%
|
-18.1%
|
|
|
548
|
|
571
|
-4.0%
|
14.0%
|
-18.0%
|
WW
|
|
459
|
|
403
|
13.9%
|
22.4%
|
-8.5%
|
|
|
1,306
|
|
1,170
|
11.6%
|
20.4%
|
-8.8%
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
103
|
|
107
|
-3.7%
|
-3.7%
|
-
|
|
|
306
|
|
323
|
-5.3%
|
-5.3%
|
-
|
Intl
|
|
132
|
|
177
|
-25.4%
|
-10.6%
|
-14.8%
|
|
|
430
|
|
573
|
-25.0%
|
-10.2%
|
-14.8%
|
WW
|
|
235
|
|
284
|
-17.3%
|
-8.1%
|
-9.2%
|
|
|
736
|
|
896
|
-17.9%
|
-8.4%
|
-9.5%
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
104
|
|
161
|
-35.4%
|
-35.4%
|
-
|
|
|
436
|
|
524
|
-16.8%
|
-16.8%
|
-
|
Intl
|
|
361
|
|
432
|
-16.4%
|
-2.0%
|
-14.4%
|
|
|
1,112
|
|
1,337
|
-16.8%
|
-3.9%
|
-12.9%
|
WW
|
|
465
|
|
593
|
-21.6%
|
-11.2%
|
-10.4%
|
|
|
1,548
|
|
1,861
|
-16.8%
|
-7.5%
|
-9.3%
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
394
|
|
305
|
29.2%
|
29.2%
|
-
|
|
|
1,090
|
|
823
|
32.4%
|
32.4%
|
-
|
Intl
|
|
776
|
|
807
|
-3.8%
|
14.3%
|
-18.1%
|
|
|
2,332
|
|
2,422
|
-3.7%
|
14.2%
|
-17.9%
|
WW
|
|
1,170
|
|
1,112
|
5.2%
|
18.4%
|
-13.2%
|
|
|
3,422
|
|
3,245
|
5.5%
|
18.9%
|
-13.4%
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
98
|
|
42
|
*
|
*
|
-
|
|
|
253
|
|
81
|
*
|
*
|
-
|
Intl
|
|
86
|
|
14
|
*
|
*
|
**
|
|
|
201
|
|
27
|
*
|
*
|
**
|
WW
|
|
184
|
|
56
|
*
|
*
|
**
|
|
|
454
|
|
108
|
*
|
*
|
**
|
VELCADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
329
|
|
389
|
-15.4%
|
0.1%
|
-15.5%
|
|
|
1,012
|
|
1,200
|
-15.7%
|
-1.0%
|
-14.7%
|
WW
|
|
329
|
|
389
|
-15.4%
|
0.1%
|
-15.5%
|
|
|
1,012
|
|
1,200
|
-15.7%
|
-1.0%
|
-14.7%
|
ZYTIGA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
276
|
|
252
|
9.5%
|
9.5%
|
-
|
|
|
784
|
|
716
|
9.5%
|
9.5%
|
-
|
Intl
|
|
272
|
|
316
|
-13.9%
|
3.4%
|
-17.3%
|
|
|
866
|
|
926
|
-6.5%
|
12.2%
|
-18.7%
|
WW
|
|
548
|
|
568
|
-3.5%
|
6.1%
|
-9.6%
|
|
|
1,650
|
|
1,642
|
0.5%
|
11.0%
|
-10.5%
|
OTHER
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
20
|
|
11
|
81.8%
|
81.8%
|
-
|
|
|
53
|
|
26
|
*
|
*
|
-
|
Intl
|
|
89
|
|
88
|
1.1%
|
19.3%
|
-18.2%
|
|
|
253
|
|
269
|
-5.9%
|
11.5%
|
-17.4%
|
WW
|
|
109
|
|
99
|
10.1%
|
26.2%
|
-16.1%
|
|
|
306
|
|
295
|
3.7%
|
19.5%
|
-15.8%
|
CARDIOVASCULAR /
METABOLISM / OTHER (5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,171
|
|
950
|
23.3%
|
23.3%
|
-
|
|
|
3,522
|
|
2,603
|
35.3%
|
35.3%
|
-
|
Intl
|
|
415
|
|
472
|
-12.1%
|
1.8%
|
-13.9%
|
|
|
1,278
|
|
1,492
|
-14.3%
|
-1.9%
|
-12.4%
|
WW
|
|
1,586
|
|
1,422
|
11.5%
|
16.1%
|
-4.6%
|
|
|
4,800
|
|
4,095
|
17.2%
|
21.7%
|
-4.5%
|
XARELTO
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
461
|
|
414
|
11.4%
|
11.4%
|
-
|
|
|
1,374
|
|
1,094
|
25.6%
|
25.6%
|
-
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
WW
|
|
461
|
|
414
|
11.4%
|
11.4%
|
-
|
|
|
1,374
|
|
1,094
|
25.6%
|
25.6%
|
-
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
322
|
|
169
|
90.5%
|
90.5%
|
-
|
|
|
890
|
|
376
|
*
|
*
|
-
|
Intl
|
|
18
|
|
5
|
*
|
*
|
**
|
|
|
46
|
|
9
|
*
|
*
|
**
|
WW
|
|
340
|
|
174
|
95.4%
|
97.3%
|
-1.9%
|
|
|
936
|
|
385
|
*
|
*
|
**
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
177
|
|
184
|
-3.8%
|
-3.8%
|
-
|
|
|
519
|
|
538
|
-3.5%
|
-3.5%
|
-
|
Intl
|
|
86
|
|
123
|
-30.1%
|
-17.1%
|
-13.0%
|
|
|
289
|
|
398
|
-27.4%
|
-14.4%
|
-13.0%
|
WW
|
|
263
|
|
307
|
-14.3%
|
-9.1%
|
-5.2%
|
|
|
808
|
|
936
|
-13.7%
|
-8.2%
|
-5.5%
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
211
|
|
183
|
15.3%
|
15.3%
|
-
|
|
|
739
|
|
595
|
24.2%
|
24.2%
|
-
|
Intl
|
|
311
|
|
344
|
-9.6%
|
3.8%
|
-13.4%
|
|
|
943
|
|
1,085
|
-13.1%
|
-1.5%
|
-11.6%
|
WW
|
|
522
|
|
527
|
-0.9%
|
7.9%
|
-8.8%
|
|
|
1,682
|
|
1,680
|
0.1%
|
7.6%
|
-7.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
4,509
|
|
4,723
|
-4.5%
|
-4.5%
|
-
|
|
|
13,423
|
|
13,076
|
2.7%
|
2.7%
|
-
|
Intl
|
|
3,185
|
|
3,584
|
-11.1%
|
5.5%
|
-16.6%
|
|
|
9,943
|
|
11,238
|
-11.5%
|
4.3%
|
-15.8%
|
WW
|
|
$ 7,694
|
|
8,307
|
-7.4%
|
-0.3%
|
-7.1%
|
|
|
$ 23,366
|
|
24,314
|
-3.9%
|
3.4%
|
-7.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
THIRD
QUARTER
|
|
NINE
MONTHS
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
%
Change
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2015
|
|
2014
|
Reported
|
Operational
(1)
|
Currency
|
MEDICAL DEVICES
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CARDIOVASCULAR
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
239
|
|
221
|
8.1%
|
8.1%
|
-
|
|
|
$
702
|
|
640
|
9.7%
|
9.7%
|
-
|
Intl
|
|
285
|
|
321
|
-11.2%
|
3.1%
|
-14.3%
|
|
|
895
|
|
1,010
|
-11.4%
|
2.7%
|
-14.1%
|
WW
|
|
524
|
|
542
|
-3.3%
|
5.2%
|
-8.5%
|
|
|
1,597
|
|
1,650
|
-3.2%
|
5.4%
|
-8.6%
|
DIABETES
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
205
|
|
244
|
-16.0%
|
-16.0%
|
-
|
|
|
631
|
|
658
|
-4.1%
|
-4.1%
|
-
|
Intl
|
|
265
|
|
314
|
-15.6%
|
1.1%
|
-16.7%
|
|
|
817
|
|
970
|
-15.8%
|
0.1%
|
-15.9%
|
WW
|
|
470
|
|
558
|
-15.8%
|
-6.4%
|
-9.4%
|
|
|
1,448
|
|
1,628
|
-11.1%
|
-1.6%
|
-9.5%
|
DIAGNOSTICS
(6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
456
|
**
|
**
|
-
|
Intl
|
|
16
|
|
44
|
-63.6%
|
-39.8%
|
-23.8%
|
|
|
62
|
|
492
|
-87.4%
|
-82.7%
|
-4.7%
|
WW
|
|
16
|
|
44
|
-63.6%
|
-39.8%
|
-23.8%
|
|
|
62
|
|
948
|
-93.5%
|
-91.0%
|
-2.5%
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,312
|
|
1,272
|
3.1%
|
3.1%
|
-
|
|
|
3,942
|
|
3,858
|
2.2%
|
2.2%
|
-
|
Intl
|
|
869
|
|
1,072
|
-18.9%
|
-5.0%
|
-13.9%
|
|
|
2,897
|
|
3,376
|
-14.2%
|
-0.8%
|
-13.4%
|
WW
|
|
2,181
|
|
2,344
|
-7.0%
|
-0.7%
|
-6.3%
|
|
|
6,839
|
|
7,234
|
-5.5%
|
0.8%
|
-6.3%
|
SPECIALTY SURGERY /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
420
|
|
413
|
1.7%
|
1.7%
|
-
|
|
|
1,275
|
|
1,254
|
1.7%
|
1.7%
|
-
|
Intl
|
|
401
|
|
445
|
-9.9%
|
5.1%
|
-15.0%
|
|
|
1,258
|
|
1,383
|
-9.0%
|
4.8%
|
-13.8%
|
WW
|
|
821
|
|
858
|
-4.3%
|
3.5%
|
-7.8%
|
|
|
2,533
|
|
2,637
|
-3.9%
|
3.3%
|
-7.2%
|
SURGICAL
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
567
|
|
564
|
0.5%
|
0.5%
|
-
|
|
|
1,672
|
|
1,654
|
1.1%
|
1.1%
|
-
|
Intl
|
|
832
|
|
957
|
-13.1%
|
1.1%
|
-14.2%
|
|
|
2,599
|
|
2,950
|
-11.9%
|
1.4%
|
-13.3%
|
WW
|
|
1,399
|
|
1,521
|
-8.0%
|
0.9%
|
-8.9%
|
|
|
4,271
|
|
4,604
|
-7.2%
|
1.3%
|
-8.5%
|
VISION
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
262
|
|
232
|
12.9%
|
12.9%
|
-
|
|
|
758
|
|
780
|
-2.8%
|
-2.8%
|
-
|
Intl
|
|
421
|
|
472
|
-10.8%
|
5.8%
|
-16.6%
|
|
|
1,202
|
|
1,392
|
-13.6%
|
1.4%
|
-15.0%
|
WW
|
|
683
|
|
704
|
-3.0%
|
8.1%
|
-11.1%
|
|
|
1,960
|
|
2,172
|
-9.8%
|
-0.2%
|
-9.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3,005
|
|
2,946
|
2.0%
|
2.0%
|
-
|
|
|
8,980
|
|
9,300
|
-3.4%
|
-3.4%
|
-
|
Intl
|
|
3,089
|
|
3,625
|
-14.8%
|
0.1%
|
-14.9%
|
|
|
9,730
|
|
11,573
|
-15.9%
|
-2.4%
|
-13.5%
|
WW
|
|
$ 6,094
|
|
6,571
|
-7.3%
|
0.9%
|
-8.2%
|
|
|
$ 18,710
|
|
20,873
|
-10.4%
|
-2.9%
|
-7.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 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-third-quarter-results-300158602.html
SOURCE Johnson & Johnson