JNJ
$142.37
Johnson & Johnson
($.12)
(.08%)
Earnings Details
1st Quarter March 2020
Tuesday, April 14, 2020 6:31:00 AM
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Summary

Johnson & Johnson Beats but Guides Lower

Johnson & Johnson (JNJ) reported 1st Quarter March 2020 earnings of $2.30 per share on revenue of $20.7 billion. The consensus earnings estimate was $2.03 per share on revenue of $20.5 billion. The Earnings Whisper number was $2.13 per share. Revenue grew 3.3% on a year-over-year basis.

The company said it expects 2020 earnings of $7.65 to $8.05 per share on revenue of $79.20 billion to $82.20 billion. The company's previous guidance was earnings of $9.00 to $9.15 per share on revenue of $85.80 billion to $86.60 billion and the current consensus earnings estimate is $8.51 per share on revenue of $84.89 billion for the year ending December 31, 2020.

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
$2.30
Earnings Whisper
$2.13
Consensus Estimate
$2.03
Reported Revenue
$20.69 Bil
Revenue Estimate
$20.48 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Johnson & Johnson Reports 2020 First-Quarter Results

NEW BRUNSWICK, N.J., April 14, 2020 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2020. The Company also announced earlier today that its Board of Directors declared a 6.3% increase in the quarterly dividend rate, from $0.95 per share to $1.01 per share.  At the new rate, the indicated dividend on an annual basis is $4.04 per share compared to the previous rate of $3.80 per share.

"With Johnson & Johnson's century-plus history of leading in times of great challenge, we are mobilizing our resources across the Company in the fight against the COVID-19 pandemic," said Alex Gorsky, Chairman and Chief Executive Officer. "Johnson & Johnson is built for times like this, and we are leveraging our scientific expertise, operational scale and financial strength in the effort to advance the work on our lead COVID-19 vaccine candidate. We are committed to beginning production at risk imminently and bringing an affordable and accessible vaccine to the public on a not-for-profit basis for emergency pandemic use."

Mr. Gorsky continued, "I am both proud and amazed at the level of dedication that I have witnessed from our more than 132,000 employees as we have focused on delivering on our commitments and responsibilities to the patients and consumers we serve. Our strong performance in the first quarter reflects the efforts of our teams around the world and the sustainability of our business model. Today, our Board of Directors approved an increase in our quarterly dividend for the 58th consecutive year, underscoring our commitment to delivering value for our shareholders and the confidence we have in our business now and in the future."   

OVERALL FINANCIAL RESULTS






FIRST QUARTER


($ in Millions, except EPS)

2020

2019

%  Change

Reported Sales

$       20,691

$       20,021

3.3%

Net Earnings

5,796

3,749

54.6%

EPS (diluted)

$           2.17

$           1.39

56.1%





Non-GAAP*

FIRST QUARTER


($ in Millions, except EPS)

2020

2019

%  Change

Operational Sales1,2

n/a

n/a

4.8%

Adjusted Operational Sales1,3

n/a

n/a

5.6%

Adjusted Net Earnings1,4

6,154

5,661

8.7%

Adjusted EPS (diluted)1,4

$           2.30

$           2.10

9.5%


1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules 

  2 Excludes the impact of translational currency

  3 Excludes the net impact of acquisitions and divestitures and translational currency

  4 Excludes intangible amortization expense and special items

REGIONAL SALES RESULTS: 


FIRST QUARTER

%  Change

 

($ in Millions)

2020

2019

Reported

Operational1,2

Currency

Adjusted
Operational1,3

U.S.

$       10,699

$       10,129

5.6%

5.6

-

6.7

International

9,992

9,892

1.0%

4.0

(3.0)

4.5

Worldwide

$       20,691

$       20,021

3.3%

4.8

(1.5)

5.6


1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

Note: values may have been rounded

SEGMENT SALES RESULTS:


FIRST QUARTER

%  Change

($ in Millions)

2020

2019

Reported

Operational1,2

Currency

Adjusted
Operational1,3

Consumer Health

$         3,625

$         3,318

9.2%

11.3

(2.1)

11.0

Pharmaceutical

11,134

10,244

8.7%

10.1

(1.4)

10.2

Medical Devices

5,932

6,459

(8.2)%

(6.9)

(1.3)

(4.8)

Worldwide

$       20,691

$       20,021

3.3%

4.8

(1.5)

5.6


1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

Note: values may have been rounded

SEGMENT COMMENTARY:

Consumer Health
Consumer Health worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 11.0%* driven primarily by over-the-counter products including TYLENOL and MOTRIN analgesics; upper respiratory products including ZYRTEC; digestive health products and ZARBEE'S NATURALS. Other contributors to growth were LISTERINE mouthwash in oral care products; NEUTROGENA and AVEENO in skin health/beauty products, as well as STAYFREE and o.b. in international women's health. Consumer Health results across the majority of franchises were positively impacted by the increased demand related to the COVID-19 pandemic.

Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures, grew 10.2%* driven by STELARA (ustekinumab), a biologic for the treatment of  a number of immune-mediated inflammatory diseases, DARZALEX (daratumumab), for the treatment of multiple myeloma, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, OPSUMIT (macitentan), an oral endothelin receptor antagonist indicated for the treatment of pulmonary arterial hypertension to delay disease progression, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, and PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA for the treatment of human immunodeficiency virus type 1 (HIV-1) infection. This growth was partially offset by biosimilar and generic competition, with declines primarily in international VELCADE (bortezomib), a proteasome inhibitor for the treatment of multiple myeloma, REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, and PROCRIT (epoetin alfa), a treatment for chemotherapy-induced anemia and patients with chronic kidney disease.

Medical Devices
Medical Devices worldwide operational sales, excluding the net impact of acquisitions and divestitures, declined by 4.8%* driven by the estimated net negative impact of the COVID-19 pandemic and the associated deferral of medical procedures to our Surgery, Orthopaedics, Interventional Solutions and Vision businesses.

NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
The information contained in this section should be read in conjunction with Johnson & Johnson's other disclosures filed with the Securities and Exchange Commission, including its Current Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. The reader is also encouraged to review all other news releases available online in the Investors section of the Company's website at news releases.

Regulatory Approvals

ERLEADA (apalutamide) - European Commission (EC) Approves Expanded Use for Treatment of Patients with Metastatic Hormone-Sensitive Prostate Cancer

(press release)

STELARA (ustekinumab) - EC Approves Expanded Use for Treatment of Pediatric Patients With Moderate To Severe Plaque Psoriasis

(press release)

Regulatory Submissions

Ponesimod – Submission of New Drug Applications to the U.S. Food and Drug Administration (FDA) and European Marketing Authorization for Treatment of Adults with Relapsing Multiple Sclerosis

(press release)

(press release)

DARZALEX (daratumumab) - Submission to U.S. FDA for Combination with carfilzomib and dexamethasone (DKd) For Patients with Relapsed/Refractory Multiple Myeloma

(press release)

Other

Lead Vaccine Candidate for COVID-19; Landmark New Partnership with U.S. Department of Health & Human Services; and Commitment to Supply One Billion Vaccines Worldwide for Emergency Pandemic Use; Announced

(press release)

XARELTO (rivaroxaban) -Landmark Phase 3 VOYAGER PAD Study of XARELTO Plus Aspirin Shows Significant Benefit in Patients with Symptomatic Peripheral Artery Disease (PAD) after Lower-Extremity Revascularization

(press release)

Rilpivirine And Cabotegravir Results of Phase 3 FLARE Study Demonstrate the Safety and Efficacy of Long-Acting Injectable HIV Treatment Regimen through 96 Weeks

(press release)

Rilpivirine and Cabotegravir 48-week Results of Phase 3b ATLAS-2M Study Demonstrate the Safety and Efficacy of Long-Acting Injectable HIV Treatment Administered Every Two Months

(press release)

JNJ-6372 Granted U.S. FDA Breakthrough Therapy Designation for the Treatment of Non-Small Cell Lung Cancer

(press release)

RPGR Gene Therapy Granted European Medicines Agency PRIME and Advanced Therapy Medicinal Product Designations for X-Linked Retinitis Pigmentosa

(press release)

HEARTLINE launched, the First-of-its-Kind, Virtual Study Designed to Explore if a New iPhone® App and Apple Watch® Can Help Reduce the Risk of Stroke1

(press release)


1 iPhone and Apple Watch are trademarks of their respective owners

FULL-YEAR 2020 GUIDANCE:

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

The impact of COVID-19, inclusive of the related investments the Company is making to combat the pandemic, is included in the guidance below.


April 2020

January 2020

($ in Billions, except EPS)  



Adjusted Operational Sales1,2

Change vs. Prior Year

(3.0%) - 0.5%

5.0% - 6.0%

Operational Sales2

Change vs. Prior Year

$79.2 to $82.2

(3.5%) - 0.0%

$85.8 to $86.6

4.5% - 5.5%

Estimated Reported Sales3

Change vs. Prior Year

$77.5 to $80.5

(5.5%) - (2.0%)

$85.4 to $86.2

4.0% - 5.0%




Adjusted Operational EPS (Diluted)2,4

Change vs. Prior Year

$7.65 to $8.05

(11.9%) - (7.3%)

$9.00 to $9.15

3.7% - 5.4%

Adjusted EPS (Diluted)3,4

Change vs. Prior Year

$7.50 to $7.90

(13.6%) - (9.0%)

$8.95 to $9.10

3.1% - 4.8%


1 Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures

2 Non-GAAP financial measure; excludes the impact of translational currency

3 Calculated using Euro Average Rate: April 2020 = $1.09 Euro Average Rate: January 2020 = $1.11 (Illustrative purposes only)

Non-GAAP financial measure; excludes intangible amortization expense and special items

Other modeling considerations will be provided on the webcast.

WEBCAST INFORMATION:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the Company's website at events-and-presentations

ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity. 

NON-GAAP FINANCIAL MEASURES:
*Operational sales growth excluding the impact of translational currency, adjusted operational sales growth excluding the net impact of acquisitions and divestitures and translational currency, as well as adjusted net earnings, adjusted diluted earnings per share and adjusted operational diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the Company's website at quarterly-results.

Copies of the financial schedules accompanying this earnings release are available on the Company's website at quarterly-results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the Company's website at quarterly-results.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions and other impacts to the business, or on the Company's ability to execute business continuity plans, as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 29, 2019, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," in the Company's most recently filed Quarterly Report on Form 10-Q and the Company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 

Johnson & Johnson and Subsidiaries











Supplementary Sales Data






















(Unaudited; Dollars in Millions)


FIRST QUARTER







 Percent Change



2020


2019


Total


Operations


Currency

Sales to customers by











segment of business






















Consumer Health











    U.S.


$     1,740


1,438


21.0

%

21.0


-

    International


1,885


1,880


0.3


3.9


(3.6)



3,625


3,318


9.2


11.3


(2.1)












Pharmaceutical











    U.S.


6,061


5,582


8.6


8.6


-

    International


5,073


4,662


8.8


12.0


(3.2)



11,134


10,244


8.7


10.1


(1.4)












Medical Devices











    U.S.


2,898


3,109


(6.8)


(6.8)


-

    International


3,034


3,350


(9.4)


(6.9)


(2.5)



5,932


6,459


(8.2)


(6.9)


(1.3)












U.S.


10,699


10,129


5.6


5.6


-

International


9,992


9,892


1.0


4.0


(3.0)

Worldwide


$   20,691


20,021


3.3

%

4.8


(1.5)












Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.





 

Johnson & Johnson and Subsidiaries










Supplementary Sales Data




















(Unaudited; Dollars in Millions)

FIRST QUARTER






Percent Change


2020


2019


Total


Operations


Currency

Sales to customers by










geographic area




















U.S.

$    10,699


10,129


5.6

%

5.6


-











Europe

4,827


4,609


4.7


7.5


(2.8)

Western Hemisphere excluding U.S.

1,502


1,503


(0.1)


8.5


(8.6)

Asia-Pacific, Africa

3,663


3,780


(3.1)


(1.9)


(1.2)

International

9,992


9,892


1.0


4.0


(3.0)











Worldwide

$    20,691


20,021


3.3

%

4.8


(1.5)











Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.


 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings 




















(Unaudited; in Millions Except Per Share Figures)

FIRST QUARTER












2020


2019


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$   20,691


100.0


$   20,021


100.0


3.3

Cost of products sold

7,062


34.1


6,615


33.0


6.8

Gross Profit

13,629


65.9


13,406


67.0


1.7

Selling, marketing and administrative expenses

5,203


25.1


5,219


26.1


(0.3)

Research and development expense

2,580


12.5


2,858


14.3


(9.7)

In-process research and development

-


-


890


4.4



Interest (income) expense, net

(42)


(0.2)


3


0.0



Other (income) expense, net

(679)


(3.3)


(22)


(0.1)



Restructuring

58


0.3


36


0.2



Earnings before provision for taxes on income

6,509


31.5


4,422


22.1


47.2

Provision for taxes on income

713


3.5


673


3.4


5.9

Net earnings

5,796


28.0


3,749


18.7


54.6











Net earnings per share (Diluted)

$       2.17




$       1.39




56.1











Average shares outstanding (Diluted)

2,671.0




2,698.8















Effective tax rate

11.0

%



15.2

%














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










Earnings before provision for taxes on income

$     7,244


35.0


$     6,867


34.3


5.5

Net earnings

$     6,154


29.7


$     5,661


28.3


8.7

Net earnings per share (Diluted)

$       2.30




$       2.10




9.5

Effective tax rate

15.0

%



17.6

%














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










 

Johnson & Johnson and Subsidiaries





Reconciliation of Non-GAAP Financial Measures 














First Quarter


(Dollars in Millions Except Per Share Data)


2020


2019


Net Earnings, after tax- as reported


$5,796


$3,749








Pre-tax Adjustments 






Intangible Asset Amortization expense


1,118


1,130


Litigation expense


120


423


IPR&D


-


890


Restructuring related


118


90


Acquisition and Integration related ¹


(962)


67


Unrealized (gains)/losses on securities 


327


(158)


Medical Device Regulation2


14


-


Other


-


3








Tax Adjustments






Tax impact on special item adjustments 3


(267)


(533)


Tax legislation and related impacts 


(110)


-


Adjusted Net Earnings, after tax


$6,154


$5,661


Average shares outstanding (Diluted)


2,671.0


2,698.8


Adjusted net earnings per share (Diluted)


$2.30


$2.10


Operational adjusted net earnings per share (Diluted)


$2.32










Notes:





1

Acquisition and integration related costs for the first quarter of 2020 primarily includes a $983M Contingent Consideration reversal related to the timing of certain developmental milestones associated with the Auris Health acquisition. 




2

European Medical Device Regulation (MDR) costs represent one-time compliance costs for the Company's previously registered products. MDR is a replacement of the existing European Medical Devices Directive regulatory framework, and manufacturers of currently marketed medical devices are required to comply with EU MDR beginning in May 2021. The Company considers the adoption of EU MDR to be a significant one-time regulatory change and is not indicative of on-going operations.  The Company has excluded only external third-party regulatory and consulting costs from its Medical Devices operating segments' measures of profit and loss used for making operating decisions and assessing performance.













3

The tax impact related to special item adjustments reflects the current and deferred income taxes associated with the above pre-tax special items in arriving at adjusted earnings.


 

Johnson & Johnson and Subsidiaries









Reconciliation of Non-GAAP Financial Measure


















Adjusted Operational Sales Growth

 FIRST QUARTER 2020 ACTUAL vs. 2019 ACTUAL 


 Segments 



 Consumer Health 


 Pharmaceutical 


 Medical Devices


 Total 

 WW As Reported 


9.2%


8.7%


(8.2)%


3.3%

 U.S. 


21.0%


8.6%


(6.8)%


5.6%

 International 


0.3%


8.8%


(9.4)%


1.0%










 WW Currency 


(2.1)


(1.4)


(1.3)


(1.5)

 U.S. 


-


-


-


-

 International 


(3.6)


(3.2)


(2.5)


(3.0)










 WW Operational 


11.3%


10.1%


(6.9)%


4.8%

 U.S. 


21.0%


8.6%


(6.8)%


5.6%

 International 


3.9%


12.0%


(6.9)%


4.0%










Skin Health / Beauty









Dr. Ci Labo - Japan


(0.4)






(0.1)

 U.S. 


0.0






0.0

 International 


(0.7)






(0.1)










General Surgery









Advanced Sterilization Products






2.1


0.8

 U.S. 






2.7


0.9

 International 






1.6


0.6










Baby Care









Baby Center


0.3






0.0

 U.S. 


0.8






0.1

 International 


0.0






0.0










All Other Acquisitions and Divestitures


(0.2)


0.1


(0.1)


0.0

 U.S. 


0.0


0.1


(0.2)


0.0

 International 


(0.3)


0.0


0.1


0.0










WW Adjusted Operational


11.0%


10.2%


(4.8)%


5.6%

 U.S. 


21.7%


8.7%


(4.3)%


6.7%

 International 


2.8%


12.0%


(5.3)%


4.5%










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



 



REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER







% Change




2020


2019

Reported

Operational (1)

Currency


CONSUMER HEALTH SEGMENT (2,3) 









BABY CARE









US


$                 92


87

6.7%

6.7%

-


Intl


269


307

-12.4%

-8.2%

-4.2%


WW


361


394

-8.2%

-4.9%

-3.3%


SKIN HEALTH / BEAUTY(4)









US


659


588

12.1%

12.1%

-


Intl


458


502

-8.8%

-6.5%

-2.3%


WW


1,117


1,090

2.5%

3.5%

-1.0%


ORAL CARE









US


176


151

16.2%

16.2%

-


Intl


219


216

1.5%

5.3%

-3.8%


WW


395


367

7.6%

9.8%

-2.2%


OTC








US


689


507

35.9%

35.9%

-


Intl


659


580

13.7%

17.0%

-3.3%


WW


1,348


1,087

24.1%

25.8%

-1.7%


WOMEN'S HEALTH









US


4


3

32.0%

32.0%

-


Intl


228


222

2.5%

8.9%

-6.4%


WW


232


225

2.9%

9.2%

-6.3%


WOUND CARE / OTHER









US


119


102

17.0%

17.0%

-


Intl


52


53

-1.2%

1.9%

-3.1%


WW


171


155

10.7%

11.8%

-1.1%











TOTAL CONSUMER HEALTH









US


1,740


1,438

21.0%

21.0%

-


Intl


1,885


1,880

0.3%

3.9%

-3.6%


WW


$            3,625


3,318

9.2%

11.3%

-2.1%




















See footnotes at end of schedule










REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER







% Change




2020


2019

Reported

Operational (1)

Currency


PHARMACEUTICAL SEGMENT (2)









IMMUNOLOGY









US


$            2,410


2,163

11.4%

11.4%

-


Intl


1,228


1,088

12.8%

16.3%

-3.5%


WW


3,638


3,251

11.9%

13.1%

-1.2%


REMICADE









US 


625


774

-19.3%

-19.3%

-


US Exports (5)


110


76

44.3%

44.3%

-


Intl


256


252

1.5%

5.2%

-3.7%


WW


990


1,102

-10.2%

-9.3%

-0.9%


SIMPONI / SIMPONI ARIA









US


272


263

3.4%

3.4%

-


Intl


258


261

-1.2%

2.6%

-3.8%


WW


529


524

1.1%

3.0%

-1.9%


STELARA









US


1,217


882

37.9%

37.9%

-


Intl


603


523

15.2%

18.3%

-3.1%


WW


1,819


1,405

29.5%

30.6%

-1.1%


TREMFYA









US


187


168

11.5%

11.5%

-


Intl


109


49

*

*

*


WW


296


217

36.4%

37.3%

-0.9%


OTHER IMMUNOLOGY









US


-


-

-

-

-


Intl


3


3

-6.9%

-5.6%

-1.3%


WW


3


3

-6.9%

-5.6%

-1.3%


INFECTIOUS DISEASES









US


436


357

22.3%

22.3%

-


Intl


483


489

-1.2%

2.7%

-3.9%


WW


920


846

8.7%

11.0%

-2.3%


EDURANT / rilpivirine









US


12


12

0.6%

0.6%

-


Intl


212


199

6.4%

9.2%

-2.8%


WW


224


211

6.1%

8.7%

-2.6%


PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA









US


396


315

25.5%

25.5%

-


Intl


184


208

-11.6%

-6.4%

-5.2%


WW


579


523

10.8%

12.8%

-2.0%


OTHER INFECTIOUS DISEASES









US


29


30

-3.4%

-3.4%

-


Intl


87


82

6.7%

10.2%

-3.5%


WW


116


112

4.0%

6.6%

-2.6%











See footnotes at end of schedule



















REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER







% Change




2020


2019

Reported

Operational (1)

Currency


NEUROSCIENCE









US


748


723

3.3%

3.3%

-


Intl


910


905

0.5%

3.0%

-2.5%


WW


1,658


1,629

1.8%

3.1%

-1.3%


CONCERTA / Methylphenidate









US


52


97

-46.1%

-46.1%

-


Intl


118


116

1.5%

3.6%

-2.1%


WW


171


214

-20.1%

-19.0%

-1.1%


INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA









US


544


483

12.6%

12.6%

-


Intl


339


307

10.3%

13.2%

-2.9%


WW


883


790

11.7%

12.9%

-1.2%


RISPERDAL CONSTA









US


76


77

-0.3%

-0.3%

-


Intl


94


102

-8.7%

-5.9%

-2.8%


WW


170


179

-5.1%

-3.5%

-1.6%


OTHER NEUROSCIENCE









US


75


66

12.5%

12.5%

-


Intl


360


379

-5.1%

-3.1%

-2.0%


WW


435


446

-2.5%

-0.8%

-1.7%


ONCOLOGY









US


1,175


962

22.1%

22.1%

-


Intl


1,839


1,556

18.2%

21.7%

-3.5%


WW


3,013


2,518

19.7%

21.8%

-2.1%


DARZALEX









US


463


352

31.8%

31.8%

-


Intl


474


277

70.9%

76.8%

-5.9%


WW


937


629

49.0%

51.6%

-2.6%


ERLEADA(6)









US


119


58

*

*

-


Intl


24


3

*

*

*


WW


143


61

*

*

*


IMBRUVICA









US


432


349

23.9%

23.9%

-


Intl


599


435

37.8%

42.3%

-4.5%


WW


1,031


784

31.6%

34.1%

-2.5%


VELCADE









US


-


-

-

-

-


Intl


108


263

-59.0%

-58.2%

-0.8%


WW


108


263

-59.0%

-58.2%

-0.8%


ZYTIGA / abiraterone acetate









US


139


185

-25.2%

-25.2%

-


Intl


552


494

11.7%

14.3%

-2.6%


WW


690


679

1.6%

3.5%

-1.9%


OTHER ONCOLOGY(6)









US


22


18

20.1%

20.1%

-


Intl


82


84

-2.7%

0.6%

-3.3%


WW


104


102

1.3%

4.1%

-2.8%











See footnotes at end of schedule



















REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER







% Change




2020


2019

Reported

Operational (1)

Currency


PULMONARY HYPERTENSION









US


486


430

13.0%

13.0%

-


Intl


260


226

14.9%

17.8%

-2.9%


WW


745


656

13.7%

14.7%

-1.0%


OPSUMIT









US


229


172

33.0%

33.0%

-


Intl


160


133

20.2%

23.3%

-3.1%


WW


389


306

27.4%

28.8%

-1.4%


UPTRAVI









US


212


176

20.7%

20.7%

-


Intl


38


22

70.2%

75.0%

-4.8%


WW


250


198

26.2%

26.8%

-0.6%


OTHER PULMONARY HYPERTENSION(6)









US


44


82

-45.9%

-45.9%

-


Intl


62


71

-12.4%

-10.7%

-1.7%


WW


106


152

-30.4%

-29.6%

-0.8%


CARDIOVASCULAR / METABOLISM / OTHER









US


806


947

-14.9%

-14.9%

-


Intl


354


398

-11.0%

-8.7%

-2.3%


WW


1,160


1,345

-13.8%

-13.1%

-0.7%


XARELTO









US


527


542

-2.7%

-2.7%

-


Intl


-


-

-

-

-


WW


527


542

-2.7%

-2.7%

-


INVOKANA / INVOKAMET









US


117


154

-23.6%

-23.6%

-


Intl


58


49

18.6%

20.9%

-2.3%


WW


175


202

-13.5%

-12.9%

-0.6%


PROCRIT / EPREX









US


76


148

-48.5%

-48.5%

-


Intl


79


78

0.4%

1.9%

-1.5%


WW


155


226

-31.6%

-31.0%

-0.6%


OTHER









US


85


104

-18.0%

-18.0%

-


Intl


217


271

-19.7%

-17.1%

-2.6%


WW


302


374

-19.2%

-17.4%

-1.8%


TOTAL PHARMACEUTICAL









US


6,061


5,582

8.6%

8.6%

-


Intl


5,073


4,662

8.8%

12.0%

-3.2%


WW


$          11,134


10,244

8.7%

10.1%

-1.4%











See footnotes at end of schedule



















REPORTED SALES vs. PRIOR PERIOD ($MM)



FIRST QUARTER







% Change




2020


2019

Reported

Operational (1)

Currency


MEDICAL DEVICES SEGMENT (2)









INTERVENTIONAL SOLUTIONS









US


365


343

6.6%

6.6%

-


Intl


362


389

-6.9%

-5.1%

-1.8%


WW


727


732

-0.6%

0.4%

-1.0%


ORTHOPAEDICS









US 


1,250


1,318

-5.2%

-5.2%

-


Intl


788


885

-11.0%

-8.5%

-2.5%


WW


2,038


2,204

-7.5%

-6.5%

-1.0%


HIPS









US


206


213

-3.6%

-3.6%

-


Intl


132


148

-11.2%

-8.4%

-2.8%


WW


337


361

-6.7%

-5.6%

-1.1%


KNEES









US


214


223

-4.2%

-4.2%

-


Intl


130


146

-11.4%

-8.9%

-2.5%


WW


343


369

-7.0%

-6.1%

-0.9%


TRAUMA









US


407


417

-2.3%

-2.3%

-


Intl


247


268

-8.0%

-5.3%

-2.7%


WW


654


685

-4.5%

-3.5%

-1.0%


SPINE, SPORTS & OTHER(7)









US


423


465

-8.9%

-8.9%

-


Intl


280


323

-13.3%

-11.1%

-2.2%


WW


703


788

-10.7%

-9.8%

-0.9%


SURGERY









US


844


1,001

-15.7%

-15.7%

-


Intl


1,257


1,394

-9.8%

-6.7%

-3.1%


WW


2,100


2,395

-12.3%

-10.5%

-1.8%


ADVANCED









US


381


404

-5.7%

-5.7%

-


Intl


567


576

-1.6%

1.6%

-3.2%


WW


948


980

-3.3%

-1.4%

-1.9%


GENERAL(6)









US


463


597

-22.5%

-22.5%

-


Intl


690


818

-15.7%

-12.6%

-3.1%


WW


1,153


1,414

-18.5%

-16.8%

-1.7%


VISION









US


439


446

-1.6%

-1.6%

-


Intl


628


682

-8.0%

-6.4%

-1.6%


WW


1,067


1,129

-5.5%

-4.5%

-1.0%


CONTACT LENSES / OTHER









US


346


321

7.7%

7.7%

-


Intl


467


502

-7.0%

-5.4%

-1.6%


WW


814


824

-1.3%

-0.3%

-1.0%


SURGICAL









US


93


125

-25.5%

-25.5%

-


Intl


160


180

-11.0%

-9.2%

-1.8%


WW


253


305

-16.9%

-15.9%

-1.0%











TOTAL MEDICAL DEVICES









US


2,898


3,109

-6.8%

-6.8%

-


Intl


3,034


3,350

-9.4%

-6.9%

-2.5%


WW


$            5,932


6,459

-8.2%

-6.9%

-1.3%




















Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures,
and therefore, may not recalculate precisely.











* Percentage greater than 100% or not meaningful









(1) Operational growth excludes the effect of translational currency




(5) Reported as U.S. sales



(2) Unaudited




(6) Refer to supplemental schedule



(3) Previously referred to as Consumer




(7) Previously referred to as Spine & Other



(4) Previously referred to as Beauty





 

Supplemental Schedule
Prior quarter amounts have been reclassified to
conform to current quarter product disclosure ($MM)




2018


2019


2019




Full Year




Q1


Q2


Q3


Q4



Full Year




PHARMACEUTICAL SEGMENT(1)



















ERLEADA(2)



















US


124




58


62


74


103



297




Intl


-




3


7


12


13



35




WW


124




61


69


86


116



332






















OTHER ONCOLOGY(2)



















US


104




18


16


17


19



70




Intl


362




84


85


83


84



336




WW


466




102


101


100


104



407
























2018


2019


2019























Full Year




Q1


Q2


Q3


Q4



Full Year




Pulmonary Hypertension



















OTHER PAH(3)



















US


353




82


61


36


26



205




Intl


342




71


78


61


62



272




WW


695




152


140


96


88



476











































2018


2019


2019























Full Year




Q1


Q2


Q3


Q4



Full Year




MEDICAL DEVICES SEGMENT(1)



















GENERAL SURGERY(4)



















US


2,468




597


530


531


534



2,192




Intl


3,431




818


794


769


834



3,215




WW


5,899




1,414


1,325


1,301


1,366



5,406























Note: Columns and rows within tables may not add due to rounding. 





























(1) Unaudited



















(2) ERLEADA was previously included in Other Oncology











(3) Other PAH is inclusive of TRACLEER, which was previously disclosed separately







(4) General Surgery is inclusive of Specialty Surgery, which was previously disclosed separately

 

 

(PRNewsfoto/Johnson & Johnson)

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2020-first-quarter-results-301039992.html

SOURCE Johnson & Johnson