JNJ
$137.93
Johnson & Johnson
($.07)
(.05%)
Earnings Details
3rd Quarter September 2017
Tuesday, October 17, 2017 6:40:00 AM
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Summary

Johnson & Johnson Beats

Johnson & Johnson (JNJ) reported 3rd Quarter September 2017 earnings of $1.90 per share on revenue of $19.7 billion. The consensus earnings estimate was $1.80 per share on revenue of $19.3 billion. The Earnings Whisper number was $1.81 per share. Revenue grew 10.3% on a year-over-year basis.

The company said it expects 2017 earnings of $7.25 to $7.30 per share on revenue of $76.10 billion to $76.50 billion. The company's previous guidance was earnings of $7.12 to $7.22 per share on revenue of $75.80 billion to $76.10 billion and the current consensus earnings estimate is $7.19 per share on revenue of $75.92 billion for the year ending December 31, 2017.

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of products in the health care field within its Consumer, Pharmaceutical and Medical Devices, and Diagnostics business segments.

Results
Reported Earnings
$1.90
Earnings Whisper
$1.81
Consensus Estimate
$1.80
Reported Revenue
$19.65 Bil
Revenue Estimate
$19.26 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Johnson & Johnson Reports 2017 Third-Quarter Results:

Johnson & Johnson (JNJ) today announced sales of $19.7 billion for the third quarter of 2017, an increase of 10.3% as compared to the third quarter of 2016. Operational sales results increased 9.5% and the positive impact of currency was 0.8%. Domestic sales increased 9.7%. International sales increased 10.9%, reflecting operational growth of 9.3% and a positive currency impact of 1.6%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide, domestic and international sales each increased 3.8%.*

Net earnings and diluted earnings per share for the third quarter of 2017 were $3.8 billion and $1.37, respectively. Third-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.9 billion and a charge for after-tax special items of approximately $0.5 billion. Third-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. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.2 billion and adjusted diluted earnings per share were $1.90, representing increases of 11.2% and 13.1%, respectively, as compared to the same period in 2016.* On an operational basis, adjusted diluted earnings per share also increased 10.1%.* A reconciliation of non-GAAP financial measures is included as an accompanying schedule.

"Johnson & Johnson accelerated growth in the third quarter. This is driven by the strong performance of our Pharmaceutical business, and augmented by Actelion and other recent acquisitions across the enterprise that will continue to fuel growth," said Alex Gorsky, Chairman and Chief Executive Officer. "Our dedicated colleagues continue to focus on advancing our pipelines to bring innovative solutions to patients and consumers around the globe."

The Company increased its sales guidance for the full-year 2017 to a range of $76.1 billion to $76.5 billion. Additionally, the Company increased its adjusted earnings guidance for full-year 2017 to $7.25 - $7.30 per share.*

Worldwide Consumer sales of $3.4 billion for the third quarter 2017 represented an increase of 2.9% versus the prior year, consisting of an operational increase of 1.6% and a positive impact from currency of 1.3%. Domestic sales decreased 0.5%, international sales increased 5.1%, which reflected an operational increase of 3.0% and a positive currency impact of 2.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.1%, domestic sales decreased 0.7% and international sales increased 2.3%*.

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by over-the-counter products primarily TYLENOL? analgesic products and international smoking cessation aids; as well as OGX? and NEUTROGENA? beauty products partially offset by the negative impact of domestic baby care products.

During the quarter, the divestiture of COMPEED? to HRA Pharma was completed.

Worldwide Pharmaceutical sales of $9.7 billion for the third quarter 2017 represented an increase of 15.4% versus the prior year with an operational increase of 14.6% and a positive impact from currency of 0.8%. Domestic sales increased 15.4%; international sales increased 15.5%, which reflected an operational increase of 13.5% and a positive currency impact of 2.0%. Sales included the impact of the first full quarter of the acquisition of Actelion Ltd. which contributed 7.9%, to worldwide operational sales growth. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 6.7%, domestic sales increased 7.7% and international sales increased 5.1%.*

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by new products and the strength of core products. Strong growth in new products include DARZALEX? (daratumumab), for the treatment of patients with multiple myeloma and IMBRUVICA? (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer. Additional contributors to operational sales growth included STELARA? (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, XARELTO? (rivaroxaban), an oral anticoagulant, ZYTIGA? (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer 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 the treatment of adult patients with chronic graft-versus-host-disease after failure of one or more lines of systemic therapy. The European Commission granted approval for SYMTUZA? (darunavir/cobicistat/ emtricitabine/tenofovir alafenamide) for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in adults and pediatric patients aged 12 years and older.

New Drug Applications were submitted to the FDA for apalutamide, an oral androgen receptor inhibitor for men with non-metastatic castration-resistant prostate cancer and also for darunavir/cobicistat/emtricitabine/tenofovir alafenamide for the treatment of HIV-1 infection in adults and pediatric patients aged 12 years and older. In addition, a supplemental New Drug Application (sNDA) was submitted to the FDA to expand the indication for ZYTIGA? (abiraterone acetate), in combination with prednisone and ADT to include treatment of patients with high-risk metastatic hormone na?ve prostate cancer or newly diagnosed, high-risk metastatic hormone sensitive prostate cancer.

The Company has made a decision not to pursue global approvals of sirukumab for the treatment of moderately to severely active rheumatoid arthritis. In addition, the clinical trial for talacotuzumab, an investigational compound being studied in patients with acute myeloid leukemia, has been discontinued.

Worldwide Medical Devices sales of $6.6 billion for the third quarter 2017 represented an increase of 7.1% versus the prior year consisting of an operational increase of 6.6% and a positive currency impact of 0.5%. Domestic sales increased 4.6%; international sales increased 9.6%, which reflected an operational increase of 8.6% and a positive currency impact of 1.0%. Sales included the impact of the acquisition of Abbott Medical Optics which contributed 5.2%, to worldwide operational sales growth. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 1.2%, domestic sales decreased 0.8% and international sales increased 3.2%.*

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by electrophysiology products in the Cardiovascular business, ACUVUE? contact lenses in the Vision Care business, and wound closure products in the General Surgery business, partially offset by declines in the Diabetes Care business.

During the quarter, the acquisitions of TearScience, Inc., a manufacturer of products dedicated to treating meibomian gland dysfunction and Sightbox, Inc., an e-commerce company that provides subscription vision care services connecting consumers with eye care professionals for their contact lens needs, were completed.

Subsequent to the quarter, the Company announced the completion of the divestiture of its Codman Neurosurgery business to Integra LifeSciences Holding Corporation.

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 134,100 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 and divestitures, 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 does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson’s results computed in accordance with GAAP.

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 and financial market factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in 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; the impact of business combinations and divestitures, including the Company’s ability to successfully integrate Actelion Ltd.’s products and operations and realize the expected benefits and opportunities of the transaction in the expected time frame or at all; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; 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 descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson’s Annual Report on Form 10-K for the fiscal year ended January 1, 2017, including under "Item 1A. Risk Factors," its most recently filed Quarterly Report on Form 10-Q, including in the section captioned "Cautionary Note Regarding Forward-Looking Statements," 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)
THIRD QUARTER
NINE MONTHS
Percent Change
Percent Change
2017
2016
Total
Operations
Currency
2017
2016
Total
Operations
Currency
Sales to customers by
segment of business
Consumer
U.S.
$
1,285
$
1,291
(0.5) %
(0.5)
-
$
4,186
$
4,033
3.8
%
3.8
-
International
2,071
1,970
5.1
3.0
2.1
5,876
5,842
0.6
0.2
0.4
3,356
3,261
2.9
1.6
1.3
10,062
9,875
1.9
1.6
0.3
Pharmaceutical
U.S.
5,816
5,042
15.4
15.4
-
15,698
15,123
3.8
3.8
-
International
3,879
3,358
15.5
13.5
2.0
10,877
10,109
7.6
8.4
(0.8)
9,695
8,400
15.4
14.6
0.8
26,575
25,232
5.3
5.6
(0.3)
Medical Devices
U.S.
3,189
3,048
4.6
4.6
-
9,510
9,118
4.3
4.3
-
International
3,410
3,111
9.6
8.6
1.0
10,108
9,559
5.7
6.3
(0.6)
6,599
6,159
7.1
6.6
0.5
19,618
18,677
5.0
5.3
(0.3)
U.S.
10,290
9,381
9.7
9.7
-
29,394
28,274
4.0
4.0
-
International
9,360
8,439
10.9
9.3
1.6
26,861
25,510
5.3
5.8
(0.5)
Worldwide
$ 19,650
$ 17,820
10.3
%
9.5
0.8
$ 56,255
$ 53,784
4.6
%
4.8
(0.2)
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)
THIRD QUARTER
NINE MONTHS
Percent Change
Percent Change
2017
2016
Total
Operations
Currency
2017
2016
Total
Operations
Currency
Sales to customers by
geographic area
U.S.
$ 10,290
$
9,381
9.7
%
9.7
-
$ 29,394
$ 28,274
4.0
%
4.0
-
Europe
4,308
3,832
12.4
7.9
4.5
12,398
11,769
5.3
6.2
(0.9)
Western Hemisphere excluding U.S.
1,569
1,396
12.4
10.1
2.3
4,522
4,269
5.9
3.1
2.8
Asia-Pacific, Africa
3,483
3,211
8.5
10.6
(2.1)
9,941
9,472
5.0
6.4
(1.4)
International
9,360
8,439
10.9
9.3
1.6
26,861
25,510
5.3
5.8
(0.5)
Worldwide
$ 19,650
$ 17,820
10.3
%
9.5
0.8
$ 56,255
$ 53,784
4.6
%
4.8
(0.2)
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)
THIRD QUARTER
2017
2016
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$
19,650
100.0
$
17,820
100.0
10.3
Cost of products sold
6,902
35.1
5,486
30.8
25.8
Selling, marketing and administrative expenses
5,396
27.5
4,772
26.8
13.1
Research and development expense
2,574
13.1
2,178
12.2
18.2
Interest (income) expense, net
155
0.8
95
0.5
Other (income) expense, net
(236)
(1.2)
(54)
(0.2)
Restructuring
69
0.3
62
0.3
Earnings before provision for taxes on income
4,790
24.4
5,281
29.6
(9.3)
Provision for taxes on income
1,026
5.2
1,009
5.6
1.7
Net earnings
$
3,764
19.2
$
4,272
24.0
(11.9)
Net earnings per share (Diluted)
$
1.37
$
1.53
(10.5)
Average shares outstanding (Diluted)
2,737.7
2,785.4
Effective tax rate
21.4
%
19.1
%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income
$
6,573
33.5
$
5,831
32.7
12.7
Net earnings
$
5,208
26.5
$
4,683
26.3
11.2
Net earnings per share (Diluted)
$
1.90
$
1.68
13.1
Effective tax rate
20.8
%
19.7
%
(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
2017
2016
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$
56,255
100.0
$
53,784
100.0
4.6
Cost of products sold
18,111
32.2
16,151
30.0
12.1
Selling, marketing and administrative expenses
15,395
27.4
14,636
27.2
5.2
Research and development expense
6,919
12.3
6,455
12.0
7.2
In-process research and development
-
-
29
0.1
Interest (income) expense, net
360
0.6
274
0.5
Other (income) expense, net
192
0.3
464
0.9
Restructuring
165
0.3
296
0.5
Earnings before provision for taxes on income
15,113
26.9
15,479
28.8
(2.4)
Provision for taxes on income
3,100
5.5
2,753
5.1
12.6
Net earnings
$
12,013
21.4
$
12,726
23.7
(5.6)
Net earnings per share (Diluted)
$
4.37
$
4.55
(4.0)
Average shares outstanding (Diluted)
2,746.4
2,796.6
Effective tax rate
20.5
%
17.8
%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income
$
18,961
33.7
$
17,656
32.8
7.4
Net earnings
$
15,263
27.1
$
14,403
26.8
6.0
Net earnings per share (Diluted)
$
5.56
$
5.15
8.0
Effective tax rate
19.5
%
18.4
%
(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)
2017
2016
(Decr.)
2017
2016
(Decr.)
Earnings before provision for taxes on income - as reported
$ 4,790
5,281
(9.3)
%
$ 15,113
15,479
(2.4)
%
Intangible asset amortization expense
1,077
319
1,886
927
Litigation expense, net
118
55
611
721
Restructuring/Other (1)
187
109
476
387
Actelion acquisition related cost
367
-
580
-
Diabetes asset impairment
(2)
-
180
-
AMO acquisition related cost
36
-
115
-
In-process research and development
-
-
-
29
Other
-
67
-
113
Earnings before provision for taxes on income - as adjusted
$ 6,573
5,831
12.7
%
$ 18,961
17,656
7.4
%
Net Earnings - as reported
$ 3,764
4,272
(11.9)
%
$ 12,013
12,726
(5.6)
%
Intangible asset amortization expense
933
236
1,555
679
Litigation expense, net
97
46
449
595
Restructuring/Other
136
76
358
293
Actelion acquisition related cost
255
-
454
-
Diabetes asset impairment
(5)
-
120
-
AMO acquisition related cost
28
-
314
-
In-process research and development
-
-
-
23
Other
-
53
-
87
Net Earnings - as adjusted
$ 5,208
4,683
11.2
%
$ 15,263
14,403
6.0
%
Diluted Net Earnings per share - as reported
$
1.37
1.53
(10.5)
%
$
4.37
4.55
(4.0)
%
Intangible asset amortization expense
0.34
0.08
0.57
0.24
Litigation expense, net
0.04
0.02
0.16
0.21
Restructuring/Other
0.05
0.03
0.14
0.11
Actelion acquisition related cost
0.09
-
0.16
-
Diabetes asset impairment
-
-
0.05
-
AMO acquisition related cost
0.01
-
0.11
-
In-process research and development
-
-
-
0.01
Other
-
0.02
-
0.03
Diluted Net Earnings per share - as adjusted
$
1.90
1.68
13.1
%
$
5.56
5.15
8.0
%
Operational Diluted Net Earnings per share - as adjusted at
1.68
5.19
2015 foreign currency exchange rates
Impact of currency at 2016 foreign currency exchange rates
(0.05)
-
0.01
(0.04)
Operational Diluted Net Earnings per share - as adjusted at
$
1.85
1.68
10.1
%
$
5.57
5.15
8.2
%
2016 foreign currency exchange rates
(1) Includes $29M recorded in cost of products sold and $89M recorded in other (income) expense for the third quarter 2017. Includes $46M recorded in cost of products sold
and $265M recorded in other (income) expense for nine months 2017 YTD.
Includes $3M recorded in cost of products sold and $44M recorded in other (income) expense for the
third quarter 2016.
Includes $27M recorded in cost of products sold and $64M recorded in other (income) expense for nine months 2016 YTD.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Operational Sales Growth Excluding Acquisitions and Divestitures
THIRD QUARTER 2017 ACTUAL vs. 2016 ACTUAL
Segments
Consumer
Pharmaceutical
Medical Devices
Total
Operational %(1)
WW As Reported:
1.6%
14.6%
6.6%
9.5%
U.S.
(0.5)%
15.4%
4.6%
9.7%
International
3.0%
13.5%
8.6%
9.3%
Beauty
Dr. Ci: Labo
(0.6)
(0.1)
U.S.
0.0
0.0
International
(1.0)
(0.2)
Vision Care
Abbott Medical Optics
(5.2)
(1.8)
U.S.
(4.6)
(1.5)
International
(5.7)
(2.1)
Pulmonary Hypertension
Actelion
(7.9)
(3.7)
U.S.
(7.7)
(4.1)
International
(8.4)
(3.3)
All Other Acquisitions and Divestitures
0.1
(0.2)
(0.1)
U.S.
(0.2)
(0.8)
(0.3)
International
0.3
0.3
0.1
WW Ops excluding Acquisitions and Divestitures
1.1%
6.7%
1.2%
3.8%
U.S.
(0.7)%
7.7%
(0.8)%
3.8%
International
2.3%
5.1%
3.2%
3.8%
(1) Operational growth excludes the effect of translational currency
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Operational Sales Growth Excluding Acquisitions and Divestitures
NINE MONTHS 2017 ACTUAL vs. 2016 ACTUAL
Segments
Consumer
Pharmaceutical
Medical Devices
Total
Operational %(1)
WW As Reported:
1.6%
5.6%
5.3%
4.8%
U.S.
3.8%
3.8%
4.3%
4.0%
International
0.2%
8.4%
6.3%
5.8%
Beauty
Vogue
(1.9)
(0.4)
U.S.
(4.1)
(0.6)
International
(0.5)
(0.1)
Other Neuroscience
Controlled Substance Raw Material and API Business
0.5
0.2
U.S.
0.6
0.3
International
0.3
0.1
Diagnostics
Ortho-Clinical Diagnostics
0.4
0.1
U.S.
0.0
0.0
International
0.8
0.3
Beauty
Dr. Ci: Labo
(0.3)
(0.1)
U.S.
0.0
0.0
International
(0.5)
(0.1)
Vision Care
Abbott Medical Optics
(4.1)
(1.4)
U.S.
(3.7)
(1.2)
International
(4.6)
(1.7)
Pulmonary Hypertension
Actelion
(3.0)
(1.4)
U.S.
(2.8)
(1.5)
International
(3.3)
(1.3)
All Other Acquisitions and Divestitures
(0.1)
(0.3)
0.0
U.S.
(0.4)
(0.7)
(0.3)
International
0.2
0.2
0.0
WW Ops excluding Acquisitions and Divestitures
(0.7)%
3.1%
1.3%
1.8%
U.S.
(0.7)%
1.6%
(0.1)%
0.7%
International
(0.6)%
5.4%
2.7%
3.0%
(1) Operational growth excludes the effect of translational currency
THIRD QUARTER
NINE MONTHS
% Change
% Change
2017
2016
Reported Operational (1) Currency
2017
2016
Reported Operational (1) Currency
CONSUMER SEGMENT (2) (3)
BABY CARE
US
$
100
$
118 -15.3%
-15.3%
-
$
326
$
365 -10.7%
-10.7%
-
Intl
377
377
0.0%
0.0%
0.0%
1,100
1,143
-3.8%
-3.8%
0.0%
WW
477
495
-3.6%
-3.6%
0.0%
1,426
1,508
-5.4%
-5.4%
0.0%
BEAUTY
US
523
517
1.2%
1.2%
-
1,739
1,555
11.8%
11.8%
-
Intl
510
462
10.4%
8.0%
2.4%
1,351
1,279
5.6%
5.4%
0.2%
WW
1,033
979
5.5%
4.4%
1.1%
3,090
2,834
9.0%
8.9%
0.1%
ORAL CARE
US
154
156
-1.3%
-1.3%
-
460
485
-5.2%
-5.2%
-
Intl
228
227
0.4%
-1.4%
1.8%
678
686
-1.2%
-1.6%
0.4%
WW
382
383
-0.3%
-1.3%
1.0%
1,138
1,171
-2.8%
-3.0%
0.2%
OTC
US
401
386
3.9%
3.9%
-
1,310
1,257
4.2%
4.2%
-
Intl
601
557
7.9%
4.7%
3.2%
1,711
1,681
1.8%
1.4%
0.4%
WW
1,002
943
6.3%
4.4%
1.9%
3,021
2,938
2.8%
2.6%
0.2%
WOMEN’S HEALTH
US
3
3
0.0%
0.0%
-
9
16
-43.8%
-43.8%
-
Intl
267
266
0.4%
-1.9%
2.3%
779
787
-1.0%
-2.6%
1.6%
WW
270
269
0.4%
-1.8%
2.2%
788
803
-1.9%
-3.5%
1.6%
WOUND CARE / OTHER
US
104
111
-6.3%
-6.3%
-
342
355
-3.7%
-3.7%
-
Intl
88
81
8.6%
5.9%
2.7%
257
266
-3.4%
-4.0%
0.6%
WW
192
192
0.0%
-1.2%
1.2%
599
621
-3.5%
-3.8%
0.3%
TOTAL CONSUMER
US
1,285
1,291
-0.5%
-0.5%
-
4,186
4,033
3.8%
3.8%
-
Intl
2,071
1,970
5.1%
3.0%
2.1%
5,876
5,842
0.6%
0.2%
0.4%
WW
$
3,356
$
3,261
2.9%
1.6%
1.3%
$
10,062
$
9,875
1.9%
1.6%
0.3%
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
2017
2016
Reported Operational (1) Currency
2017
2016
Reported Operational (1) Currency
PHARMACEUTICAL SEGMENT (2) (3)
IMMUNOLOGY
US
$
2,420
$
2,294
5.5%
5.5%
-
$
6,644
$
6,689
-0.7%
-0.7%
-
Intl
849
790
7.5%
4.9%
2.6%
2,514
2,343
7.3%
7.3%
0.0%
WW
3,269
3,084
6.0%
5.3%
0.7%
9,158
9,032
1.4%
1.4%
0.0%
REMICADE
US
1,206
1,222
-1.3%
-1.3%
-
3,452
3,669
-5.9%
-5.9%
-
US Exports (4)
156
255
-38.8%
-38.8%
-
448
673
-33.4%
-33.4%
-
Intl
285
306
-6.9%
-10.2%
3.3%
949
1,000
-5.1%
-5.9%
0.8%
WW
1,647
1,783
-7.6%
-8.2%
0.6%
4,849
5,342
-9.2%
-9.4%
0.2%
SIMPONI / SIMPONI ARIA
US
242
256
-5.5%
-5.5%
-
701
716
-2.1%
-2.1%
-
Intl
234
225
4.0%
3.2%
0.8%
642
603
6.5%
6.6%
-0.1%
WW
476
481
-1.0%
-1.4%
0.4%
1,343
1,319
1.8%
1.9%
-0.1%
STELARA
US
800
561
42.6%
42.6%
-
2,027
1,631
24.3%
24.3%
-
Intl
324
253
28.1%
24.7%
3.4%
903
722
25.1%
26.1%
-1.0%
WW
1,124
814
38.1%
37.0%
1.1%
2,930
2,353
24.5%
24.8%
-0.3%
OTHER IMMUNOLOGY
US
16
-
*
*
-
16
-
*
*
-
Intl
6
6
-
-
-
20
18
11.1%
9.4%
1.7%
WW
22
6
*
*
-
36
18
100.0%
98.3%
1.7%
INFECTIOUS DISEASES
US
353
387
-8.8%
-8.8%
-
1,020
1,107
-7.9%
-7.9%
-
Intl
460
455
1.1%
-2.3%
3.4%
1,334
1,340
-0.4%
-0.4%
0.0%
WW
813
842
-3.4%
-5.3%
1.9%
2,354
2,447
-3.8%
-3.8%
0.0%
EDURANT
US
15
13
15.4%
15.4%
-
44
38
15.8%
15.8%
-
Intl
179
136
31.6%
26.0%
5.6%
478
370
29.2%
28.9%
0.3%
WW
194
149
30.2%
25.1%
5.1%
522
408
27.9%
27.7%
0.2%
PREZISTA / PREZCOBIX / REZOLSTA
US
287
310
-7.4%
-7.4%
-
824
860
-4.2%
-4.2%
-
Intl
180
183
-1.6%
-5.5%
3.9%
527
544
-3.1%
-2.7%
-0.4%
WW
467
493
-5.3%
-6.7%
1.4%
1,351
1,404
-3.8%
-3.7%
-0.1%
OTHER INFECTIOUS DISEASES
US
51
64
-20.3%
-20.3%
-
152
209
-27.3%
-27.3%
-
Intl
101
136
-25.7%
-26.4%
0.7%
329
426
-22.8%
-23.1%
0.3%
WW
152
200
-24.0%
-24.5%
0.5%
481
635
-24.3%
-24.5%
0.2%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
2017
2016
Reported Operational (1) Currency
2017
2016
Reported Operational (1) Currency
NEUROSCIENCE
US
647
622
4.0%
4.0%
-
1,931
1,997
-3.3%
-3.3%
-
Intl
851
842
1.1%
0.6%
0.5%
2,531
2,618
-3.3%
-2.2%
-1.1%
WW
1,498
1,464
2.3%
2.0%
0.3%
4,462
4,615
-3.3%
-2.7%
-0.6%
CONCERTA / METHYLPHENIDATE
US
100
102
-2.0%
-2.0%
-
284
365
-22.2%
-22.2%
-
Intl
98
88
11.4%
10.5%
0.9%
304
294
3.4%
4.1%
-0.7%
WW
198
190
4.2%
3.8%
0.4%
588
659
-10.8%
-10.5%
-0.3%
INVEGA SUSTENNA / XEPLION / TRINZA
US
395
339
16.5%
16.5%
-
1,154
983
17.4%
17.4%
-
Intl
248
217
14.3%
11.0%
3.3%
722
646
11.8%
12.8%
-1.0%
WW
643
556
15.6%
14.3%
1.3%
1,876
1,629
15.2%
15.6%
-0.4%
RISPERDAL CONSTA
US
87
94
-7.4%
-7.4%
-
273
289
-5.5%
-5.5%
-
Intl
107
128
-16.4%
-18.0%
1.6%
335
394
-15.0%
-14.0%
-1.0%
WW
194
222
-12.6%
-13.5%
0.9%
608
683
-11.0%
-10.4%
-0.6%
OTHER NEUROSCIENCE
US
65
87
-25.3%
-25.3%
-
220
360
-38.9%
-38.9%
-
Intl
398
409
-2.7%
-1.4%
-1.3%
1,170
1,284
-8.9%
-7.7%
-1.2%
WW
463
496
-6.7%
-5.6%
-1.1%
1,390
1,644
-15.5%
-14.5%
-1.0%
ONCOLOGY
US
846
622
36.0%
36.0%
-
2,207
1,740
26.8%
26.8%
-
Intl
1,052
895
17.5%
15.2%
2.3%
3,012
2,605
15.6%
16.8%
-1.2%
WW
1,898
1,517
25.1%
23.8%
1.3%
5,219
4,345
20.1%
20.8%
-0.7%
DARZALEX
US
230
124
85.5%
85.5%
-
643
320
*
*
-
Intl
87
39
*
*
*
228
52
*
*
*
WW
317
163
94.5%
92.0%
2.5%
871
372
*
*
*
IMBRUVICA
US
230
179
28.5%
28.5%
-
622
455
36.7%
36.7%
-
Intl
282
170
65.9%
61.8%
4.1%
749
450
66.4%
67.7%
-1.3%
WW
512
349
46.7%
44.7%
2.0%
1,371
905
51.5%
52.1%
-0.6%
VELCADE
US
-
-
-
-
-
-
-
-
-
-
Intl
273
304
-10.2%
-11.2%
1.0%
843
950
-11.3%
-9.8%
-1.5%
WW
273
304
-10.2%
-11.2%
1.0%
843
950
-11.3%
-9.8%
-1.5%
ZYTIGA
US
352
282
24.8%
24.8%
-
826
840
-1.7%
-1.7%
-
Intl
317
300
5.7%
4.4%
1.3%
924
901
2.6%
3.5%
-0.9%
WW
669
582
14.9%
14.2%
0.7%
1,750
1,741
0.5%
1.0%
-0.5%
OTHER ONCOLOGY
US
34
37
-8.1%
-8.1%
-
116
125
-7.2%
-7.2%
-
Intl
93
82
13.4%
11.1%
2.3%
268
252
6.3%
7.3%
-1.0%
WW
127
119
6.7%
5.1%
1.6%
384
377
1.9%
2.6%
-0.7%
PULMONARY HYPERTENSION(5)
US
387
-
*
*
-
427
-
*
*
-
Intl
283
-
*
*
-
334
-
*
*
-
WW
670
-
*
*
-
761
-
*
*
-
OPSUMIT
-
US
150
-
*
*
-
174
-
*
*
-
Intl
109
-
*
*
-
130
-
*
*
-
WW
259
-
*
*
-
304
-
*
*
-
TRACLEER
-
US
83
-
*
*
-
85
-
*
*
-
Intl
127
-
*
*
-
151
-
*
*
-
WW
210
-
*
*
-
236
-
*
*
-
UPTRAVI
-
US
113
-
*
*
-
121
-
*
*
-
Intl
11
-
*
*
-
12
-
*
*
-
WW
124
-
*
*
-
133
-
*
*
-
OTHER
-
US
41
-
*
*
-
47
-
*
*
-
Intl
36
-
*
*
-
41
-
*
*
-
WW
77
-
*
*
-
88
-
*
*
-
CARDIOVASCULAR / METABOLISM / OTHER
US
1,163
1,117
4.1%
4.1%
-
3,469
3,590
-3.4%
-3.4%
-
Intl
384
376
2.1%
1.0%
1.1%
1,152
1,203
-4.2%
-2.2%
-2.0%
WW
1,547
1,493
3.6%
3.3%
0.3%
4,621
4,793
-3.6%
-3.1%
-0.5%
XARELTO
US
635
529
20.0%
20.0%
-
1,790
1,690
5.9%
5.9%
-
Intl
-
-
-
-
-
-
-
-
-
-
WW
635
529
20.0%
20.0%
-
1,790
1,690
5.9%
5.9%
-
INVOKANA / INVOKAMET
US
220
294
-25.2%
-25.2%
-
723
939
-23.0%
-23.0%
-
Intl
45
34
32.4%
31.6%
0.8%
121
97
24.7%
26.5%
-1.8%
WW
265
328
-19.2%
-19.3%
0.1%
844
1,036
-18.5%
-18.3%
-0.2%
PROCRIT / EPREX
US
168
168
0.0%
0.0%
-
511
581
-12.0%
-12.0%
-
Intl
70
82
-14.6%
-17.6%
3.0%
229
265
-13.6%
-13.3%
-0.3%
WW
238
250
-4.8%
-5.8%
1.0%
740
846
-12.5%
-12.4%
-0.1%
OTHER
US
140
126
11.1%
11.1%
-
445
380
17.1%
17.1%
-
Intl
269
260
3.5%
2.9%
0.6%
802
841
-4.6%
-2.1%
-2.5%
WW
409
386
6.0%
5.6%
0.4%
1,247
1,221
2.1%
3.8%
-1.7%
TOTAL PHARMACEUTICAL
US
5,816
5,042
15.4%
15.4%
-
15,698
15,123
3.8%
3.8%
-
Intl
3,879
3,358
15.5%
13.5%
2.0%
10,877
10,109
7.6%
8.4%
-0.8%
WW
$
9,695
8,400
15.4%
14.6%
0.8%
$
26,575
25,232
5.3%
5.6%
-0.3%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
THIRD QUARTER
NINE MONTHS
% Change
% Change
MEDICAL DEVICES SEGMENT (2)
2017
2016
Reported Operational (1) Currency
2017
2016
Reported Operational (1) Currency
CARDIOVASCULAR
US
$
261
235
11.1%
11.1%
-
$
785
701
12.0%
12.0%
-
Intl
245
216
13.4%
13.9%
-0.5%
743
663
12.1%
13.5%
-1.4%
WW
506
451
12.2%
12.5%
-0.3%
1,528
1,364
12.0%
12.7%
-0.7%
DIABETES CARE
US
168
191
-12.0%
-12.0%
-
482
548
-12.0%
-12.0%
-
Intl
237
236
0.4%
-2.6%
3.0%
743
779
-4.6%
-4.6%
0.0%
WW
405
427
-5.2%
-6.9%
1.7%
1,225
1,327
-7.7%
-7.7%
0.0%
DIAGNOSTICS
US
-
-
-
-
-
-
-
-
-
-
Intl
-
7
*
*
*
1
66
*
*
*
WW
-
7
*
*
*
1
66
*
*
*
ORTHOPAEDICS
US
1,326
1,343
-1.3%
-1.3%
-
4,092
4,099
-0.2%
-0.2%
-
Intl
925
908
1.9%
0.0%
1.9%
2,827
2,848
-0.7%
-0.2%
-0.5%
WW
2,251
2,251
0.0%
-0.8%
0.8%
6,919
6,947
-0.4%
-0.2%
-0.2%
HIPS
US
195
190
2.6%
2.6%
-
612
590
3.7%
3.7%
-
Intl
133
130
2.3%
-0.1%
2.4%
418
421
-0.7%
-0.1%
-0.6%
WW
328
320
2.5%
1.5%
1.0%
1,030
1,011
1.9%
2.2%
-0.3%
KNEES
US
220
223
-1.3%
-1.3%
-
702
696
0.9%
0.9%
-
Intl
123
132
-6.8%
-9.5%
2.7%
424
433
-2.1%
-1.4%
-0.7%
WW
343
355
-3.4%
-4.4%
1.0%
1,126
1,129
-0.3%
0.0%
-0.3%
TRAUMA
US
398
389
2.3%
2.3%
-
1,179
1,151
2.4%
2.4%
-
Intl
264
248
6.5%
4.6%
1.9%
768
764
0.5%
0.8%
-0.3%
WW
662
637
3.9%
3.1%
0.8%
1,947
1,915
1.7%
1.8%
-0.1%
SPINE & OTHER
US
513
541
-5.2%
-5.2%
-
1,599
1,662
-3.8%
-3.8%
-
Intl
405
398
1.8%
0.3%
1.5%
1,217
1,230
-1.1%
-0.5%
-0.6%
WW
918
939
-2.2%
-2.8%
0.6%
2,816
2,892
-2.6%
-2.3%
-0.3%
SURGERY
US
1,002
1,002
0.0%
0.0%
-
3,009
3,003
0.2%
0.2%
-
Intl
1,344
1,282
4.8%
3.7%
1.1%
3,992
3,906
2.2%
2.9%
-0.7%
WW
2,346
2,284
2.7%
2.1%
0.6%
7,001
6,909
1.3%
1.7%
-0.4%
ADVANCED
US
398
390
2.1%
2.1%
-
1,190
1,131
5.2%
5.2%
-
Intl
525
494
6.3%
5.3%
1.0%
1,543
1,478
4.4%
5.4%
-1.0%
WW
923
884
4.4%
3.9%
0.5%
2,733
2,609
4.8%
5.3%
-0.5%
GENERAL
US
430
414
3.9%
3.9%
-
1,276
1,254
1.8%
1.8%
-
Intl
675
649
4.0%
2.8%
1.2%
2,017
2,006
0.5%
1.1%
-0.6%
WW
1,105
1,063
4.0%
3.2%
0.8%
3,293
3,260
1.0%
1.4%
-0.4%
SPECIALTY
US
174
198
-12.1%
-12.1%
-
543
618
-12.1%
-12.1%
-
Intl
144
139
3.6%
2.8%
0.8%
432
422
2.4%
2.1%
0.3%
WW
318
337
-5.6%
-5.9%
0.3%
975
1,040
-6.3%
-6.4%
0.1%
VISION CARE
US
432
277
56.0%
56.0%
-
1,142
767
48.9%
48.9%
-
Intl
659
462
42.6%
43.9%
-1.3%
1,802
1,297
38.9%
39.8%
-0.9%
WW
1,091
739
47.6%
48.4%
-0.8%
2,944
2,064
42.6%
43.2%
-0.6%
CONTACT LENSES / OTHER
US
302
277
9.0%
9.0%
-
832
767
8.5%
8.5%
-
Intl
498
462
7.8%
9.1%
-1.3%
1,404
1,297
8.2%
9.1%
-0.9%
WW
800
739
8.3%
9.1%
-0.8%
2,236
2,064
8.3%
8.9%
-0.6%
SURGICAL
US
130
-
*
*
-
310
-
*
*
-
Intl
161
-
*
*
-
398
-
*
*
-
WW
291
-
*
*
-
708
-
*
*
-
TOTAL MEDICAL DEVICES
US
3,189
3,048
4.6%
4.6%
-
9,510
9,118
4.3%
4.3%
-
Intl
3,410
3,111
9.6%
8.6%
1.0%
10,108
9,559
5.7%
6.3%
-0.6%
WW
$
6,599
6,159
7.1%
6.6%
0.5%
$
19,618
18,677
5.0%
5.3%
-0.3%
* Percentage greater than 100% or 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) Actelion acquisition completed June 16, 2017

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SOURCE Johnson & Johnson

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