NEW BRUNSWICK, N.J.,
April 19, 2016 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced sales of
$17.5 billion for the first quarter
of 2016, an increase of 0.6% as compared to the first quarter of
2015. Operational sales results increased 3.9% and the negative
impact of currency was 3.3%. Domestic sales increased 7.2%.
International sales decreased 6.0%, reflecting operational growth
of 0.6% and a negative currency impact of 6.6%. Excluding the net
impact of acquisitions, divestitures and hepatitis C sales, on an
operational basis, worldwide sales increased 6.9%, domestic sales
increased 9.8% and international sales increased 3.8%.*
The currency devaluation in Venezuela negatively impacted worldwide
operational sales growth by 60 basis points, and international
sales growth by 120 basis points.
Net earnings and diluted earnings per share for the first
quarter of 2016 were $4.3 billion and
$1.54, respectively. First quarter
2016 net earnings included after-tax intangible amortization
expense of approximately $0.2 billion
and a charge for after-tax special items of approximately
$0.2 billion. First quarter 2015 net
earnings included after-tax intangible amortization expense of
approximately $0.2 billion and a net
gain for after-tax special items of approximately $0.1 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
$4.7 billion and adjusted diluted
earnings per share were $1.68,
representing increases of 6.1% and 7.7%, respectively, as compared
to the same period in 2015.* On an operational basis,
adjusted diluted earnings per share increased
10.3%.*
"We are off to a strong start to the year, supported by our
first quarter underlying sales growth," said Alex Gorsky, Chairman and Chief Executive
Officer. "Our Pharmaceuticals business continues to deliver
impressive levels of growth, we have steady improvement in our
Consumer business, and we are seeing momentum in our Medical
Devices businesses, all of which are fueling our optimism for the
full-year ahead."
Mr. Gorsky continued, "I am proud of our global teams for their
contributions to these results and their commitment to developing
innovative solutions that address the unmet health care needs of
people around the world."
The Company updated its sales guidance for the full-year 2016 to
$71.2 billion to $71.9 billion
reflecting current foreign currency exchange rates. Additionally,
the Company increased its adjusted earnings guidance for full-year
2016 to $6.53 - $6.68 per share.
Worldwide Consumer sales of $3.2
billion for the first quarter 2016 represented a decrease of
5.8% versus the prior year, consisting of an operational decrease
of 0.2% and a negative impact from currency of 5.6%. Domestic sales
decreased 0.1%; international sales decreased 9.6%, which reflected
an operational decrease of 0.3% and a negative currency impact of
9.3%. Excluding the net impact of acquisitions and divestitures, on
an operational basis, worldwide sales increased 1.9%, domestic
sales increased 4.1% and international sales increased
0.5%*. The currency devaluation in Venezuela negatively impacted worldwide
Consumer operational sales growth by 200 basis points, and
international sales growth by 320 basis points.
Primary contributors to Consumer operational sales results were
over-the-counter products including TYLENOL® and
MOTRIN® analgesics, upper respiratory products including
ZYRTEC® allergy medications, digestive health products,
domestic LISTERINE® oral care products and international
anti-smoking aids.
Worldwide Pharmaceutical sales of $8.2
billion for the first quarter 2016 represented an increase
of 5.9% versus the prior year with an operational increase of 8.5%
and a negative impact from currency of 2.6%. Domestic sales
increased 12.9%; international sales decreased 3.4%, which
reflected an operational increase of 2.6% and a negative currency
impact of 6.0%. Excluding the net impact of acquisitions,
divestitures and hepatitis C sales, on an operational basis,
worldwide sales increased 12.3%, domestic sales increased 16.2% and
international sales increased 7.1%.*
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
IMBRUVICA® (ibrutinib), an oral, once-daily therapy
approved for use in treating certain B-cell malignancies, a type of
blood or lymph node cancer; XARELTO® (rivaroxaban), an
oral anticoagulant; DARZALEX® (daratumumab), for the
treatment of patients with multiple myeloma; and
INVOKANA®/INVOKAMET® (canagliflozin), for the
treatment of adults with type 2 diabetes.
Additional contributors to operational sales growth include
REMICADE® (infliximab) and 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; and INVEGA®
SUSTENNA®/XEPLION®/TRINZA®
(paliperidone palmitate), long-acting, injectable atypical
antipsychotics for the treatment of schizophrenia in adults.
During the quarter, the U.S. Food and Drug Administration (FDA)
approved an additional indication for
IMBRUVICA® (ibrutinib) for first-line treatment of
chronic lymphocytic leukemia. The Committee for Medicinal Products
for Human Use (CHMP) issued a positive opinion recommending a
conditional marketing authorization in the European Union for
first-in-class CD38 immunotherapy DARZALEX®
(daratumumab), for the treatment of patients with multiple myeloma,
as well as a positive opinion recommending marketing authorization
for TREVICTA® (paliperidone palmitate a 3-monthly
injection) for the maintenance treatment of schizophrenia.
In April, subsequent to the first quarter, a worldwide
collaboration and license agreement was entered into with TESARO,
Inc. for exclusive rights to the investigational compound niraparib
in prostate cancer.
Worldwide Medical Devices sales of $6.1
billion for the first quarter 2016 represented a decrease of
2.4% versus the prior year consisting of an operational increase of
0.5% and a negative currency impact of 2.9%. Domestic sales
increased 2.2%; international sales decreased 6.5%, which reflected
an operational decrease of 1.0% and a negative currency impact of
5.5%. Excluding the net impact of acquisitions and divestitures, on
an operational basis, worldwide sales increased 3.0%, domestic
sales increased 3.3% and international sales increased
2.8%.*
Primary contributors to operational sales growth were
electrophysiology products in the Cardiovascular business; joint
reconstruction products in the Orthopaedics business; endocutters,
energy and biosurgical products in the Advanced Surgery business;
and international ACUVUE® contact lenses in the Vision
Care business.
In April, subsequent to the quarter, the acquisition of NeuWave
Medical, Inc., a privately held medical device company that
manufactures and markets minimally invasive soft tissue microwave
ablation systems, was completed.
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 127,500
employees at more than 250 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. 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 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 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 be found on the company's website at
www.investor.jnj.com.
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, including restructuring plans; market
conditions and the possibility that the on-going share repurchase
program may be suspended or discontinued; the impact of business
combinations and divestitures; 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 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 January 3, 2016,
including in 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 statement as a result of new
information or future events or developments.
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
FIRST
QUARTER
|
|
|
|
|
|
Percent
Change
|
|
2016
|
|
2015
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
|
|
|
|
|
|
|
|
U.S.
|
$ 1,358
|
|
1,359
|
|
(0.1)
|
%
|
(0.1)
|
|
-
|
International
|
1,837
|
|
2,031
|
|
(9.6)
|
|
(0.3)
|
|
(9.3)
|
|
3,195
|
|
3,390
|
|
(5.8)
|
|
(0.2)
|
|
(5.6)
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
U.S.
|
4,937
|
|
4,371
|
|
12.9
|
|
12.9
|
|
-
|
International
|
3,241
|
|
3,355
|
|
(3.4)
|
|
2.6
|
|
(6.0)
|
|
8,178
|
|
7,726
|
|
5.9
|
|
8.5
|
|
(2.6)
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
U.S.
|
3,026
|
|
2,962
|
|
2.2
|
|
2.2
|
|
-
|
International
|
3,083
|
|
3,296
|
|
(6.5)
|
|
(1.0)
|
|
(5.5)
|
|
6,109
|
|
6,258
|
|
(2.4)
|
|
0.5
|
|
(2.9)
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
9,321
|
|
8,692
|
|
7.2
|
|
7.2
|
|
-
|
International
|
8,161
|
|
8,682
|
|
(6.0)
|
|
0.6
|
|
(6.6)
|
Worldwide
|
$ 17,482
|
|
17,374
|
|
0.6
|
%
|
3.9
|
|
(3.3)
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
Percent
Change
|
|
|
2016
|
|
2015
|
|
Total
|
|
Operations
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$ 9,321
|
|
8,692
|
|
7.2
|
%
|
7.2
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
|
3,847
|
|
4,040
|
|
(4.8)
|
|
(0.8)
|
|
(4.0)
|
Western Hemisphere
excluding U.S.
|
|
1,331
|
|
1,639
|
|
(18.8)
|
|
(0.6)
|
|
(18.2)
|
Asia-Pacific,
Africa
|
|
2,983
|
|
3,003
|
|
(0.7)
|
|
3.0
|
|
(3.7)
|
International
|
|
8,161
|
|
8,682
|
|
(6.0)
|
|
0.6
|
|
(6.6)
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
|
$ 17,482
|
|
17,374
|
|
0.6
|
%
|
3.9
|
|
(3.3)
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
FIRST
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$ 17,482
|
|
100.0
|
|
$ 17,374
|
|
100.0
|
|
0.6
|
Cost of products
sold
|
5,329
|
|
30.5
|
|
5,282
|
|
30.4
|
|
0.9
|
Selling, marketing
and administrative expenses
|
4,688
|
|
26.8
|
|
4,847
|
|
27.9
|
|
(3.3)
|
Research and
development expense
|
2,013
|
|
11.5
|
|
1,899
|
|
10.9
|
|
6.0
|
Interest (income)
expense, net
|
77
|
|
0.4
|
|
119
|
|
0.7
|
|
|
Other (income)
expense, net
|
(39)
|
|
(0.2)
|
|
(348)
|
|
(2.0)
|
|
|
Restructuring
|
120
|
|
0.7
|
|
-
|
|
-
|
|
|
Earnings before
provision for taxes on income
|
5,294
|
|
30.3
|
|
5,575
|
|
32.1
|
|
(5.0)
|
Provision for
taxes on income
|
1,002
|
|
5.7
|
|
1,255
|
|
7.2
|
|
(20.2)
|
Net
earnings
|
4,292
|
|
24.6
|
|
4,320
|
|
24.9
|
|
(0.6)
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$ 1.54
|
|
|
|
$ 1.53
|
|
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,795.4
|
|
|
|
2,826.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
18.9
|
%
|
|
|
22.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net
earnings(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$ 5,801
|
|
33.2
|
|
$ 5,630
|
|
32.4
|
|
3.0
|
Net
earnings
|
$ 4,689
|
|
26.8
|
|
$ 4,418
|
|
25.4
|
|
6.1
|
Net earnings per
share (Diluted)
|
$ 1.68
|
|
|
|
$ 1.56
|
|
|
|
7.7
|
Effective tax
rate
|
19.2
|
%
|
|
|
21.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Quarter
|
|
% Incr. /
|
|
(Dollars in
Millions Except Per Share Data)
|
2016
|
|
2015
|
|
(Decr.)
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as reported
|
$ 5,294
|
|
5,575
|
|
(5.0)
|
%
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
282
|
|
312
|
|
|
|
|
|
|
|
|
|
|
Restructuring
(1)
|
137
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Litigation
expense/(gain), net
|
66
|
|
(402)
|
|
|
|
|
|
|
|
|
|
|
DePuy ASR™Hip
program
|
-
|
|
139
|
|
|
|
|
|
|
|
|
|
|
Other
|
22
|
|
6
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as adjusted
|
$ 5,801
|
|
5,630
|
|
3.0
|
%
|
|
|
|
|
|
|
|
Net Earnings - as
reported
|
$ 4,292
|
|
4,320
|
|
(0.6)
|
%
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
205
|
|
226
|
|
|
|
|
|
|
|
|
|
|
Restructuring
|
120
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Litigation
expense/(gain), net
|
56
|
|
(253)
|
|
|
|
|
|
|
|
|
|
|
DePuy ASR™Hip
program
|
-
|
|
122
|
|
|
|
|
|
|
|
|
|
|
Other
|
16
|
|
3
|
|
|
|
|
|
|
|
|
|
|
Net Earnings - as
adjusted
|
$ 4,689
|
|
4,418
|
|
6.1
|
%
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as reported
|
$ 1.54
|
|
1.53
|
|
0.7
|
%
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
0.07
|
|
0.08
|
|
|
|
|
|
|
|
|
|
|
Restructuring
|
0.04
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Litigation
expense/(gain), net
|
0.02
|
|
(0.09)
|
|
|
|
|
|
|
|
|
|
|
DePuy ASR™Hip
program
|
-
|
|
0.04
|
|
|
|
|
|
|
|
|
|
|
Other
|
0.01
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as adjusted
|
$ 1.68
|
|
1.56
|
|
7.7
|
%
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted*
|
$ 1.72
|
|
1.56
|
|
10.3
|
%
|
|
|
|
|
|
|
|
* Excludes the effect
of translational currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Includes $17M recorded in cost of
products sold
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Sales
Growth Excluding Acquisitions, Divestitures and Hepatitis C Sales
(1) (Underlying Sales Growth)
|
FIRST
QUARTER 2016 ACTUAL vs. 2015 ACTUAL
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(2)
|
WW As
Reported:
|
|
(0.2)%
|
|
8.5%
|
|
0.5%
|
|
3.9%
|
U.S.
|
|
(0.1)%
|
|
12.9%
|
|
2.2%
|
|
7.2%
|
International
|
|
(0.3)%
|
|
2.6%
|
|
(1.0)%
|
|
0.6%
|
|
|
|
|
|
|
|
|
|
Wound
Care/Other
|
|
|
|
|
|
|
|
|
SPLENDA
®
|
|
2.0
|
|
|
|
|
|
0.5
|
U.S.
|
|
4.1
|
|
|
|
|
|
0.7
|
International
|
|
0.7
|
|
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
Cardiovascular
|
|
|
|
|
|
|
|
|
Cordis
|
|
|
|
|
|
2.4
|
|
0.9
|
U.S.
|
|
|
|
|
|
1.1
|
|
0.4
|
International
|
|
|
|
|
|
3.5
|
|
1.3
|
|
|
|
|
|
|
|
|
|
Other
Neuroscience
|
|
|
|
|
|
|
|
|
NUCYNTA
®
|
|
|
|
0.5
|
|
|
|
0.2
|
U.S.
|
|
|
|
1.0
|
|
|
|
0.5
|
International
|
|
|
|
0.0
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.1
|
|
|
|
0.1
|
|
0.1
|
U.S.
|
|
0.1
|
|
|
|
0.0
|
|
0.0
|
International
|
|
0.1
|
|
|
|
0.3
|
|
0.1
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
1.9%
|
|
9.0%
|
|
3.0%
|
|
5.6%
|
U.S.
|
|
4.1%
|
|
13.9%
|
|
3.3%
|
|
8.8%
|
International
|
|
0.5%
|
|
2.6%
|
|
2.8%
|
|
2.2%
|
|
|
|
|
|
|
|
|
|
Hepatitis
C
|
|
|
|
3.3
|
|
|
|
1.3
|
U.S.
|
|
|
|
2.3
|
|
|
|
1.0
|
International
|
|
|
|
4.5
|
|
|
|
1.6
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Hepatitis C only
|
|
|
|
11.8%
|
|
|
|
5.2%
|
U.S.
|
|
|
|
15.2%
|
|
|
|
8.2%
|
International
|
|
|
|
7.1%
|
|
|
|
2.2%
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions, Divestitures and Hepatitis C
|
|
1.9%
|
|
12.3%
|
|
3.0%
|
|
6.9%
|
U.S.
|
|
4.1%
|
|
16.2%
|
|
3.3%
|
|
9.8%
|
International
|
|
0.5%
|
|
7.1%
|
|
2.8%
|
|
3.8%
|
|
|
|
|
|
|
|
|
|
(1)Hepatitis C products include OLYSIO ®
/SOVRIAD ® and INCIVO ®
|
|
|
|
|
|
|
|
|
(2)Operational growth excludes the effect
of translational currency
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2016
|
|
2015
|
Reported
|
Operational
(1)
|
Currency
|
|
CONSUMER SEGMENT
(2)
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
US
|
|
$
95
|
|
111
|
-14.4%
|
-14.4%
|
-
|
|
Intl
|
|
356
|
|
400
|
-11.0%
|
0.1%
|
-11.1%
|
|
WW
|
|
451
|
|
511
|
-11.7%
|
-3.0%
|
-8.7%
|
|
ORAL CARE
|
|
|
|
|
|
|
|
|
US
|
|
170
|
|
158
|
7.6%
|
7.6%
|
-
|
|
Intl
|
|
215
|
|
245
|
-12.2%
|
-2.9%
|
-9.3%
|
|
WW
|
|
385
|
|
403
|
-4.5%
|
1.1%
|
-5.6%
|
|
OTC
|
|
|
|
|
|
|
|
|
US
|
|
461
|
|
405
|
13.8%
|
13.8%
|
-
|
|
Intl
|
|
558
|
|
588
|
-5.1%
|
2.8%
|
-7.9%
|
|
WW
|
|
1,019
|
|
993
|
2.6%
|
7.3%
|
-4.7%
|
|
SKIN CARE
|
|
|
|
|
|
|
|
|
US
|
|
488
|
|
492
|
-0.8%
|
-0.8%
|
-
|
|
Intl
|
|
374
|
|
411
|
-9.0%
|
-0.7%
|
-8.3%
|
|
WW
|
|
862
|
|
903
|
-4.5%
|
-0.7%
|
-3.8%
|
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
US
|
|
6
|
|
6
|
0.0%
|
0.0%
|
-
|
|
Intl
|
|
245
|
|
281
|
-12.8%
|
-0.9%
|
-11.9%
|
|
WW
|
|
251
|
|
287
|
-12.5%
|
-0.9%
|
-11.6%
|
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
US
|
|
138
|
|
187
|
-26.2%
|
-26.2%
|
-
|
|
Intl
|
|
89
|
|
106
|
-16.0%
|
-8.4%
|
-7.6%
|
|
WW
|
|
227
|
|
293
|
-22.5%
|
-19.7%
|
-2.8%
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CONSUMER
|
|
|
|
|
|
|
|
|
US
|
|
1,358
|
|
1,359
|
-0.1%
|
-0.1%
|
-
|
|
Intl
|
|
1,837
|
|
2,031
|
-9.6%
|
-0.3%
|
-9.3%
|
|
WW
|
|
$ 3,195
|
|
3,390
|
-5.8%
|
-0.2%
|
-5.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2016
|
|
2015
|
Reported
|
Operational
(1)
|
Currency
|
|
PHARMACEUTICAL
SEGMENT (2)
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
US
|
|
$ 2,171
|
|
1,755
|
23.7%
|
23.7%
|
-
|
|
Intl
|
|
739
|
|
708
|
4.4%
|
12.8%
|
-8.4%
|
|
WW
|
|
2,910
|
|
2,463
|
18.1%
|
20.5%
|
-2.4%
|
|
REMICADE
|
|
|
|
|
|
|
|
|
US
|
|
1,211
|
|
1,055
|
14.8%
|
14.8%
|
-
|
|
US Exports
(3)
|
|
233
|
|
181
|
28.7%
|
28.7%
|
-
|
|
Intl
|
|
335
|
|
364
|
-8.0%
|
1.8%
|
-9.8%
|
|
WW
|
|
1,779
|
|
1,600
|
11.2%
|
13.4%
|
-2.2%
|
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
|
US
|
|
216
|
|
155
|
39.4%
|
39.4%
|
-
|
|
Intl
|
|
174
|
|
145
|
20.0%
|
27.6%
|
-7.6%
|
|
WW
|
|
390
|
|
300
|
30.0%
|
33.7%
|
-3.7%
|
|
STELARA
|
|
|
|
|
|
|
|
|
US
|
|
511
|
|
364
|
40.4%
|
40.4%
|
-
|
|
Intl
|
|
224
|
|
185
|
21.1%
|
27.3%
|
-6.2%
|
|
WW
|
|
735
|
|
549
|
33.9%
|
36.0%
|
-2.1%
|
|
OTHER
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
Intl
|
|
6
|
|
14
|
-57.1%
|
-48.4%
|
-8.7%
|
|
WW
|
|
6
|
|
14
|
-57.1%
|
-48.4%
|
-8.7%
|
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
US
|
|
358
|
|
412
|
-13.1%
|
-13.1%
|
-
|
|
Intl
|
|
418
|
|
563
|
-25.8%
|
-22.1%
|
-3.7%
|
|
WW
|
|
776
|
|
975
|
-20.4%
|
-18.2%
|
-2.2%
|
|
EDURANT
|
|
|
|
|
|
|
|
|
US
|
|
11
|
|
9
|
22.2%
|
22.2%
|
-
|
|
Intl
|
|
108
|
|
82
|
31.7%
|
35.3%
|
-3.6%
|
|
WW
|
|
119
|
|
91
|
30.8%
|
34.1%
|
-3.3%
|
|
OLYSIO /
SOVRIAD
|
|
|
|
|
|
|
|
|
US
|
|
16
|
|
98
|
-83.7%
|
-83.7%
|
-
|
|
Intl
|
|
16
|
|
136
|
-88.2%
|
-87.1%
|
-1.1%
|
|
WW
|
|
32
|
|
234
|
-86.3%
|
-85.7%
|
-0.6%
|
|
PREZISTA / PREZCOBIX
/ REZOLSTA
|
|
|
|
|
|
|
|
|
US
|
|
277
|
|
234
|
18.4%
|
18.4%
|
-
|
|
Intl
|
|
175
|
|
193
|
-9.3%
|
-4.6%
|
-4.7%
|
|
WW
|
|
452
|
|
427
|
5.9%
|
8.0%
|
-2.1%
|
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
US
|
|
54
|
|
71
|
-23.9%
|
-23.9%
|
-
|
|
Intl
|
|
119
|
|
152
|
-21.7%
|
-16.7%
|
-5.0%
|
|
WW
|
|
173
|
|
223
|
-22.4%
|
-19.0%
|
-3.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2016
|
|
2015
|
Reported
|
Operational
(1)
|
Currency
|
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
US
|
|
680
|
|
750
|
-9.3%
|
-9.3%
|
-
|
|
Intl
|
|
869
|
|
868
|
0.1%
|
5.4%
|
-5.3%
|
|
WW
|
|
1,549
|
|
1,618
|
-4.3%
|
-1.4%
|
-2.9%
|
|
CONCERTA /
METHYLPHENIDATE
|
|
|
|
|
|
|
|
|
US
|
|
134
|
|
126
|
6.3%
|
6.3%
|
-
|
|
Intl
|
|
97
|
|
98
|
-1.0%
|
6.4%
|
-7.4%
|
|
WW
|
|
231
|
|
224
|
3.1%
|
6.3%
|
-3.2%
|
|
INVEGA /
PALIPERIDONE
|
|
|
|
|
|
|
|
|
US
|
|
24
|
|
94
|
-74.5%
|
-74.5%
|
-
|
|
Intl
|
|
62
|
|
61
|
1.6%
|
5.3%
|
-3.7%
|
|
WW
|
|
86
|
|
155
|
-44.5%
|
-43.0%
|
-1.5%
|
|
INVEGA SUSTENNA /
XEPLION /
INVEGA TRINZA
|
|
|
|
|
|
|
|
|
US
|
|
305
|
|
228
|
33.8%
|
33.8%
|
-
|
|
Intl
|
|
208
|
|
183
|
13.7%
|
19.3%
|
-5.6%
|
|
WW
|
|
513
|
|
411
|
24.8%
|
27.3%
|
-2.5%
|
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
|
US
|
|
95
|
|
104
|
-8.7%
|
-8.7%
|
-
|
|
Intl
|
|
136
|
|
150
|
-9.3%
|
-4.9%
|
-4.4%
|
|
WW
|
|
231
|
|
254
|
-9.1%
|
-6.5%
|
-2.6%
|
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
US
|
|
122
|
|
198
|
-38.4%
|
-38.4%
|
-
|
|
Intl
|
|
366
|
|
376
|
-2.7%
|
2.6%
|
-5.3%
|
|
WW
|
|
488
|
|
574
|
-15.0%
|
-11.5%
|
-3.5%
|
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
US
|
|
549
|
|
334
|
64.4%
|
64.4%
|
-
|
|
Intl
|
|
805
|
|
774
|
4.0%
|
9.8%
|
-5.8%
|
|
WW
|
|
1,354
|
|
1,108
|
22.2%
|
26.3%
|
-4.1%
|
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
US
|
|
132
|
|
66
|
100.0%
|
100.0%
|
-
|
|
Intl
|
|
129
|
|
50
|
*
|
*
|
**
|
|
WW
|
|
261
|
|
116
|
*
|
*
|
**
|
|
VELCADE
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
Intl
|
|
304
|
|
339
|
-10.3%
|
-5.4%
|
-4.9%
|
|
WW
|
|
304
|
|
339
|
-10.3%
|
-5.4%
|
-4.9%
|
|
ZYTIGA
|
|
|
|
|
|
|
|
|
US
|
|
272
|
|
253
|
7.5%
|
7.5%
|
-
|
|
Intl
|
|
286
|
|
303
|
-5.6%
|
-0.1%
|
-5.5%
|
|
WW
|
|
558
|
|
556
|
0.4%
|
3.4%
|
-3.0%
|
|
OTHER
ONCOLOGY
|
|
|
|
|
|
|
|
|
US
|
|
145
|
|
15
|
*
|
*
|
-
|
|
Intl
|
|
86
|
|
82
|
4.9%
|
11.2%
|
-6.3%
|
|
WW
|
|
231
|
|
97
|
*
|
*
|
**
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2016
|
|
2015
|
Reported
|
Operational
(1)
|
Currency
|
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
|
|
|
US
|
|
1,179
|
|
1,120
|
5.3%
|
5.3%
|
-
|
|
Intl
|
|
410
|
|
442
|
-7.2%
|
-0.4%
|
-6.8%
|
|
WW
|
|
1,589
|
|
1,562
|
1.7%
|
3.6%
|
-1.9%
|
|
XARELTO
|
|
|
|
|
|
|
|
|
US
|
|
567
|
|
441
|
28.6%
|
28.6%
|
-
|
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
WW
|
|
567
|
|
441
|
28.6%
|
28.6%
|
-
|
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
|
US
|
|
297
|
|
266
|
11.7%
|
11.7%
|
-
|
|
Intl
|
|
28
|
|
12
|
*
|
*
|
**
|
|
WW
|
|
325
|
|
278
|
16.9%
|
17.8%
|
-0.9%
|
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
|
US
|
|
183
|
|
163
|
12.3%
|
12.3%
|
-
|
|
Intl
|
|
91
|
|
106
|
-14.2%
|
-8.7%
|
-5.5%
|
|
WW
|
|
274
|
|
269
|
1.9%
|
4.1%
|
-2.2%
|
|
OTHER
|
|
|
|
|
|
|
|
|
US
|
|
132
|
|
250
|
-47.2%
|
-47.2%
|
-
|
|
Intl
|
|
291
|
|
324
|
-10.2%
|
-3.5%
|
-6.7%
|
|
WW
|
|
423
|
|
574
|
-26.3%
|
-22.5%
|
-3.8%
|
|
|
|
|
|
|
|
|
|
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
US
|
|
4,937
|
|
4,371
|
12.9%
|
12.9%
|
-
|
|
Intl
|
|
3,241
|
|
3,355
|
-3.4%
|
2.6%
|
-6.0%
|
|
WW
|
|
$ 8,178
|
|
7,726
|
5.9%
|
8.5%
|
-2.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2016
|
|
2015
|
Reported
|
Operational
(1)
|
Currency
|
|
MEDICAL DEVICES
(2) (4)
|
|
|
|
|
|
|
|
|
CARDIOVASCULAR
|
|
|
|
|
|
|
|
|
US
|
|
$
231
|
|
228
|
1.3%
|
1.3%
|
-
|
|
Intl
|
|
212
|
|
301
|
-29.6%
|
-26.3%
|
-3.3%
|
|
WW
|
|
443
|
|
529
|
-16.3%
|
-14.4%
|
-1.9%
|
|
DIABETES
CARE
|
|
|
|
|
|
|
|
|
US
|
|
180
|
|
212
|
-15.1%
|
-15.1%
|
-
|
|
Intl
|
|
249
|
|
272
|
-8.5%
|
-2.8%
|
-5.7%
|
|
WW
|
|
429
|
|
484
|
-11.4%
|
-8.2%
|
-3.2%
|
|
DIAGNOSTICS
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
Intl
|
|
28
|
|
30
|
**
|
**
|
**
|
|
WW
|
|
28
|
|
30
|
**
|
**
|
**
|
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
US
|
|
1,392
|
|
1,309
|
6.3%
|
6.3%
|
-
|
|
Intl
|
|
949
|
|
1,019
|
-6.9%
|
-1.4%
|
-5.5%
|
|
WW
|
|
2,341
|
|
2,328
|
0.6%
|
3.0%
|
-2.4%
|
|
HIPS
|
|
|
|
|
|
|
|
|
US
|
|
203
|
|
190
|
6.8%
|
6.8%
|
-
|
|
Intl
|
|
139
|
|
143
|
-2.8%
|
3.4%
|
-6.2%
|
|
WW
|
|
342
|
|
333
|
2.7%
|
5.4%
|
-2.7%
|
|
KNEES
|
|
|
|
|
|
|
|
|
US
|
|
244
|
|
226
|
8.0%
|
8.0%
|
-
|
|
Intl
|
|
145
|
|
150
|
-3.3%
|
2.1%
|
-5.4%
|
|
WW
|
|
389
|
|
376
|
3.5%
|
5.7%
|
-2.2%
|
|
TRAUMA
|
|
|
|
|
|
|
|
|
US
|
|
381
|
|
364
|
4.7%
|
4.7%
|
-
|
|
Intl
|
|
261
|
|
292
|
-10.6%
|
-4.9%
|
-5.7%
|
|
WW
|
|
642
|
|
656
|
-2.1%
|
0.4%
|
-2.5%
|
|
SPINE &
OTHER
|
|
|
|
|
|
|
|
|
US
|
|
564
|
|
529
|
6.6%
|
6.6%
|
-
|
|
Intl
|
|
404
|
|
434
|
-6.9%
|
-1.8%
|
-5.1%
|
|
WW
|
|
968
|
|
963
|
0.5%
|
2.8%
|
-2.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
%
Change
|
|
|
|
2016
|
|
2015
|
Reported
|
Operational
(1)
|
Currency
|
|
SURGERY
|
|
|
|
|
|
|
|
|
US
|
|
981
|
|
960
|
2.2%
|
2.2%
|
-
|
|
Intl
|
|
1,247
|
|
1,296
|
-3.8%
|
2.3%
|
-6.1%
|
|
WW
|
|
2,228
|
|
2,256
|
-1.2%
|
2.3%
|
-3.5%
|
|
ADVANCED
|
|
|
|
|
|
|
|
|
US
|
|
352
|
|
329
|
7.0%
|
7.0%
|
-
|
|
Intl
|
|
464
|
|
441
|
5.2%
|
11.7%
|
-6.5%
|
|
WW
|
|
816
|
|
770
|
6.0%
|
9.7%
|
-3.7%
|
|
GENERAL
|
|
|
|
|
|
|
|
|
US
|
|
419
|
|
422
|
-0.7%
|
-0.7%
|
-
|
|
Intl
|
|
651
|
|
711
|
-8.4%
|
-2.8%
|
-5.6%
|
|
WW
|
|
1,070
|
|
1,133
|
-5.6%
|
-2.1%
|
-3.5%
|
|
SPECIALTY
|
|
|
|
|
|
|
|
|
US
|
|
210
|
|
209
|
0.5%
|
0.5%
|
-
|
|
Intl
|
|
132
|
|
144
|
-8.3%
|
-1.0%
|
-7.3%
|
|
WW
|
|
342
|
|
353
|
-3.1%
|
-0.1%
|
-3.0%
|
|
VISION
CARE
|
|
|
|
|
|
|
|
|
US
|
|
242
|
|
253
|
-4.3%
|
-4.3%
|
-
|
|
Intl
|
|
398
|
|
378
|
5.3%
|
9.8%
|
-4.5%
|
|
WW
|
|
640
|
|
631
|
1.4%
|
4.1%
|
-2.7%
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
US
|
|
3,026
|
|
2,962
|
2.2%
|
2.2%
|
-
|
|
Intl
|
|
3,083
|
|
3,296
|
-6.5%
|
-1.0%
|
-5.5%
|
|
WW
|
|
$ 6,109
|
|
6,258
|
-2.4%
|
0.5%
|
-2.9%
|
|
|
|
|
|
|
|
|
|
|
* Percentage greater
than 100%
|
|
|
|
|
|
|
|
|
** 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
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2016-first-quarter-results-300253627.html
SOURCE Johnson & Johnson