JNJ
$132.63
Johnson & Johnson
($.41)
(.31%)
Earnings Details
2nd Quarter June 2017
Tuesday, July 18, 2017 6:40:00 AM
Tweet Share Watch
Summary

Johnson & Johnson Beats

Johnson & Johnson (JNJ) reported 2nd Quarter June 2017 earnings of $1.83 per share on revenue of $18.8 billion. The consensus earnings estimate was $1.79 per share on revenue of $18.9 billion. The Earnings Whisper number was $1.82 per share. Revenue grew 1.9% on a year-over-year basis.

The company said it expects 2017 earnings of $7.12 to $7.22 per share on revenue of $75.80 billion to $76.10 billion. The company's previous guidance was earnings of $7.00 to $7.15 per share on revenue of $75.40 billion to $76.10 billion and the current consensus earnings estimate is $7.10 per share on revenue of $75.71 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
$1.83
Earnings Whisper
$1.82
Consensus Estimate
$1.79
Reported Revenue
$18.84 Bil
Revenue Estimate
$18.91 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Johnson & Johnson Reports 2017 Second-Quarter Results:

Johnson & Johnson (JNJ) today announced sales of $18.8 billion for the second quarter of 2017, an increase of 1.9% as compared to the second quarter of 2016. Operational sales results increased 2.9% and the negative impact of currency was 1.0%. Domestic sales increased 1.6%. International sales increased 2.3%, reflecting operational growth of 4.4% and a negative currency impact of 2.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 0.5%, domestic sales decreased 1.0% and international sales increased 2.0%.*

https://mma.prnewswire.com/media/403394/Johnson_and_Johnson_Logo.jpg

Net earnings and diluted earnings per share for the second quarter of 2017 were $3.8 billion and $1.40, respectively. Second-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.4 billion and a charge for after-tax special items of approximately $0.8 billion. Second-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 $0.7 billion. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.0 billion and adjusted diluted earnings per share were $1.83, representing increases of 3.1% and 5.2%, respectively, as compared to the same period in 2016.* On an operational basis, adjusted diluted earnings per share also increased 6.9%.* A reconciliation of non-GAAP financial measures is included as an accompanying schedule.

"Our second-quarter results reflect strong adjusted earnings growth and we are optimistic that the investments we are making will accelerate our sales growth in the second half of this year. Our pharmaceutical pipeline continued its strong momentum with the approval of TREMFYA(TM) as well as the submission and approval of several key line extensions," said Alex Gorsky, Chairman and Chief Executive Officer. "The Actelion acquisition establishes a new therapeutic area as well as another engine for growth and we are pleased to welcome the Actelion colleagues to the Johnson & Johnson Family of Companies. Together with all of our businesses, we will continue to transform the lives of patients around the world."

The Company increased its sales guidance for the full-year 2017 to $75.8 billion to $76.1 billion. Additionally, the Company increased its adjusted earnings guidance for full-year 2017 to $7.12 - $7.22 per share.*

Worldwide Consumer sales of $3.5 billion for the second quarter 2017 represented an increase of 1.7% versus the prior year, consisting of an operational increase of 2.3% and a negative impact from currency of 0.6%. Domestic sales increased 7.4%, international sales decreased 2.2%, which reflected an operational decrease of 1.1% and a negative currency impact of 1.1%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales decreased 0.8%, domestic sales increased 1.2% and international sales decreased 2.3%*.

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were negatively impacted by baby care products, partially offset by domestic over-the-counter products, including upper respiratory products and international anti-smoking aids, and NEUTROGENA? beauty products.

Worldwide Pharmaceutical sales of $8.6 billion for the second quarter 2017 represented a decrease of 0.2% versus the prior year with an operational increase of 1.0% and a negative impact from currency of 1.2%. Domestic sales decreased 2.6%; international sales increased 3.3%, which reflected an operational increase of 6.1% and a negative currency impact of 2.8%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide sales increased 0.5%, domestic sales decreased 2.6% and international sales increased 5.1%.* Worldwide operational sales growth was negatively impacted by approximately 4 points due to a positive adjustment of U.S. rebate accruals in the second quarter of 2016, which did not repeat in the second quarter of 2017.

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, and INVEGA? SUSTENNA?/XEPLION?/TRINZA? (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults.

During the quarter, the Company announced the completion of the acquisition of Actelion Ltd., a leading biopharmaceutical company, for a total purchase price of approximately $30 billion in cash.

Also in the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for DARZALEX? (daratumumab) in combination with pomalidomide and dexamethasone for the treatment of patients with multiple myeloma who have received at least two prior therapies. The European Commission (EC) granted approval for DARZALEX? (daratumumab) for use in combination with lenalidomide and dexamethasone, or bortezomib (VELCADE?) and dexamethasone, for the treatment of adult patients with multiple myeloma who have received at least one prior therapy.

In addition, a supplemental New Drug Application was submitted to the FDA to update the prescribing information for XARELTO? (rivaroxaban) to add a 10mg dose to reduce patients’ risk of recurrent venous thromboembolism (VTE) after at least six months of standard anticoagulation therapy and regulatory submissions were made to both the European Medicines Agency and the FDA for a single-tablet, two-drug regimen of dolutegravir and rilpivirine for the maintenance treatment of HIV-1 infection.

In July, subsequent to the quarter, the FDA approved TREMFYA(TM) (guselkumab) for the treatment of adults living with moderate to severe plaque psoriasis.

Worldwide Medical Devices sales of $6.7 billion for the second quarter 2017 represented an increase of 4.9% versus the prior year consisting of an operational increase of 5.9% and a negative currency impact of 1.0%. Domestic sales increased 6.1%; international sales increased 3.9%, which reflected an operational increase of 5.8% and a negative currency impact of 1.9%. Sales included the impact of the first full quarter of the recently completed acquisition of Abbott Medical Optics which contributed 5.1%, to worldwide operational sales growth. Excluding the net impact of all acquisitions and divestitures, on an operational basis, worldwide sales increased 1.1%, domestic sales increased 0.8% and international sales increased 1.4%.*

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 Advanced Surgery products, partially offset by declines in the Diabetes Care business.

During the quarter, FDA clearance was received for the 30-minute STERRAD VELOCITY(TM) Biological Indicator System for low temperature H202 sterilization as well as approval for the SURGICEL? Powder Absorbable Hemostat for adjunctive hemostasis during surgery.

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 132,500 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 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)
SECOND QUARTER
SIX 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.
$
1,487
1,384
7.4
%
7.4
-
$
2,901
2,742
5.8
%
5.8
-
International
1,991
2,035
(2.2)
(1.1)
(1.1)
3,805
3,872
(1.7)
(1.3)
(0.4)
3,478
3,419
1.7
2.3
(0.6)
6,706
6,614
1.4
1.6
(0.2)
Pharmaceutical
U.S.
5,010
5,144
(2.6)
(2.6)
-
9,882
10,081
(2.0)
(2.0)
-
International
3,625
3,510
3.3
6.1
(2.8)
6,998
6,751
3.7
5.9
(2.2)
8,635
8,654
(0.2)
1.0
(1.2)
16,880
16,832
0.3
1.2
(0.9)
Medical Devices
U.S.
3,229
3,044
6.1
6.1
-
6,321
6,070
4.1
4.1
-
International
3,497
3,365
3.9
5.8
(1.9)
6,698
6,448
3.9
5.3
(1.4)
6,726
6,409
4.9
5.9
(1.0)
13,019
12,518
4.0
4.7
(0.7)
U.S.
9,726
9,572
1.6
1.6
-
19,104
18,893
1.1
1.1
-
International
9,113
8,910
2.3
4.4
(2.1)
17,501
17,071
2.5
4.0
(1.5)
Worldwide
$ 18,839
18,482
1.9
%
2.9
(1.0)
$ 36,605
35,964
1.8
%
2.5
(0.7)
Johnson & Johnson and Subsidiaries
Supplementary Sales Data
(Unaudited; Dollars in Millions)
SECOND QUARTER
SIX MONTHS
Percent Change
Percent Change
2017
2016
Total
Operations
Currency
2017
2016
Total
Operations
Currency
Sales to customers by
geographic area
U.S.
$
9,726
9,572
1.6
%
1.6
-
$ 19,104
18,893
1.1
%
1.1
-
Europe
4,232
4,090
3.5
6.7
(3.2)
8,090
7,937
1.9
5.4
(3.5)
Western Hemisphere excluding U.S.
1,499
1,542
(2.8)
(2.7)
(0.1)
2,953
2,873
2.8
(0.2)
3.0
Asia-Pacific, Africa
3,382
3,278
3.2
4.9
(1.7)
6,458
6,261
3.1
4.1
(1.0)
International
9,113
8,910
2.3
4.4
(2.1)
17,501
17,071
2.5
4.0
(1.5)
Worldwide
$ 18,839
18,482
1.9
%
2.9
(1.0)
$ 36,605
35,964
1.8
%
2.5
(0.7)
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)
SECOND QUARTER
2017
2016
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$ 18,839
100.0
$ 18,482
100.0
1.9
Cost of products sold
5,823
30.9
5,336
28.9
9.1
Selling, marketing and administrative expenses
5,262
28.0
5,176
28.0
1.7
Research and development expense
2,285
12.1
2,264
12.2
0.9
In-process research and development
-
-
29
0.2
Interest (income) expense, net
122
0.6
102
0.6
Other (income) expense, net
588
3.1
557
3.0
Restructuring
11
0.1
114
0.6
Earnings before provision for taxes on income
4,748
25.2
4,904
26.5
(3.2)
Provision for taxes on income
921
4.9
907
4.9
1.5
Net earnings
$
3,827
20.3
$
3,997
21.6
(4.3)
Net earnings per share (Diluted)
$
1.40
$
1.43
(2.1)
Average shares outstanding (Diluted)
2,741.5
2,794.2
Effective tax rate
19.4
%
18.5
%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income
$
6,285
33.4
$
6,024
32.6
4.3
Net earnings
$
5,017
26.6
$
4,866
26.3
3.1
Net earnings per share (Diluted)
$
1.83
$
1.74
5.2
Effective tax rate
20.2
%
19.2
%
(1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
Condensed Consolidated Statement of Earnings
(Unaudited; in Millions Except Per Share Figures)
SIX MONTHS
2017
2016
Percent
Percent
Percent
Increase
Amount
to Sales
Amount
to Sales
(Decrease)
Sales to customers
$ 36,605
100.0
$ 35,964
100.0
1.8
Cost of products sold
11,209
30.6
10,665
29.6
5.1
Selling, marketing and administrative expenses
9,999
27.3
9,864
27.4
1.4
Research and development expense
4,345
11.9
4,277
11.9
1.6
In-process research and development
-
-
29
0.1
Interest (income) expense, net
205
0.6
179
0.5
Other (income) expense, net
428
1.2
518
1.4
Restructuring
96
0.2
234
0.7
Earnings before provision for taxes on income
10,323
28.2
10,198
28.4
1.2
Provision for taxes on income
2,074
5.7
1,744
4.9
18.9
Net earnings
$
8,249
22.5
$
8,454
23.5
(2.4)
Net earnings per share (Diluted)
$
3.00
$
3.02
(0.7)
Average shares outstanding (Diluted)
2,749.4
2,800.9
Effective tax rate
20.1
%
17.1
%
Adjusted earnings before provision for taxes and net earnings (1)
Earnings before provision for taxes on income
$ 12,388
33.8
$ 11,825
32.9
4.8
Net earnings
$ 10,055
27.5
$
9,720
27.0
3.4
Net earnings per share (Diluted)
$
3.66
$
3.47
5.5
Effective tax rate
18.8
%
17.8
%
(1) See Reconciliation of Non-GAAP Financial Measures.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
Second Quarter
% Incr. /
Six Months YTD
% Incr. /
(Dollars in Millions Except Per Share Data)
2017
2016
(Decr.)
2017
2016
(Decr.)
Earnings before provision for taxes on income - as reported
$ 4,748
4,904
(3.2)
%
$ 10,323
10,198
1.2
%
Intangible asset amortization expense
480
326
809
608
Litigation expense, net
493
600
493
666
Restructuring/Other (1)
128
141
289
278
Actelion acquisition related cost
213
-
213
-
Diabetes asset impairment
182
-
182
-
AMO acquisition related cost
41
-
79
-
In-process research and development
-
29
-
29
Other
-
24
-
46
Earnings before provision for taxes on income - as adjusted
$ 6,285
6,024
4.3
%
$ 12,388
11,825
4.8
%
Net Earnings - as reported
$ 3,827
3,997
(4.3)
%
$
8,249
8,454
(2.4)
%
Intangible asset amortization expense
378
238
622
443
Litigation expense, net
352
493
352
549
Restructuring/Other
101
97
222
217
Actelion acquisition related cost
199
-
199
-
Diabetes asset impairment
125
-
125
-
AMO acquisition related cost
35
-
286
-
In-process research and development
-
23
-
23
Other
-
18
-
34
Net Earnings - as adjusted
$ 5,017
4,866
3.1
%
$ 10,055
9,720
3.4
%
Diluted Net Earnings per share - as reported
$
1.40
1.43
(2.1)
%
$
3.00
3.02
(0.7)
%
Intangible asset amortization expense
0.14
0.08
0.23
0.16
Litigation expense, net
0.13
0.18
0.13
0.19
Restructuring/Other
0.03
0.03
0.08
0.08
Actelion acquisition related cost
0.07
-
0.07
-
Diabetes asset impairment
0.05
-
0.05
-
AMO acquisition related cost
0.01
-
0.10
-
In-process research and development
-
0.01
-
0.01
Other
-
0.01
-
0.01
Diluted Net Earnings per share - as adjusted
$
1.83
1.74
5.2
%
$
3.66
3.47
5.5
%
Operational Diluted Net Earnings per share - as adjusted
at 2015 foreign currency exchange rates
1.74
3.51
Impact of currency at 2016 foreign currency exchange rates
0.03
-
0.06
(0.04)
Operational Diluted Net Earnings per share - as adjusted
at 2016 foreign currency exchange rates
$
1.86
1.74
6.9
%
$
3.72
3.47
7.2
%
(1)Includes $13M recorded in cost of products sold and $104M recorded in other (income) expense for the second quarter 2017. Includes $17M recorded in cost of products sold and $176M recorded in other (income) expense for six months 2017 YTD.
Includes $7M recorded in cost of products sold and $20M recorded in other (income) expense for the
second quarter 2016.
Includes $24M recorded in cost of products sold and $20M recorded in other (income) expense for six months 2016 YTD.
Johnson & Johnson and Subsidiaries
Reconciliation of Non-GAAP Financial Measure
Operational Sales Growth Excluding Acquisitions and Divestitures
SECOND QUARTER 2017 ACTUAL vs. 2016 ACTUAL
Segments
Consumer
Pharmaceutical
Medical Devices
Total
Operational %(1)
WW As Reported:
2.3%
1.0%
5.9%
2.9%
U.S.
7.4%
(2.6)%
6.1%
1.6%
International
(1.1)%
6.1%
5.8%
4.4%
Beauty
Vogue
(2.7)
(0.5)
U.S.
(5.9)
(0.9)
International
(0.6)
(0.1)
Other Neuroscience
Controlled Substance Raw Material and API Business
0.6
0.3
U.S.
0.8
0.4
International
0.5
0.2
Diagnostics
Ortho-Clinical Diagnostics
0.5
0.2
U.S.
0.0
0.0
International
1.0
0.3
Vision Care
Abbott Medical Optics
(5.1)
(1.8)
U.S.
(4.6)
(1.5)
International
(5.6)
(2.1)
Pulmonary Hypertension
Actelion
(1.1)
(0.5)
U.S.
(0.8)
(0.4)
International
(1.5)
(0.6)
All Other Acquisitions and Divestitures
(0.4)
(0.2)
(0.1)
U.S.
(0.3)
(0.7)
(0.2)
International
(0.6)
0.2
(0.1)
WW Ops excluding Acquisitions and Divestitures
(0.8)%
0.5%
1.1%
0.5%
U.S.
1.2%
(2.6)%
0.8%
(1.0)%
International
(2.3)%
5.1%
1.4%
2.0%
(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
SIX MONTHS 2017 ACTUAL vs. 2016 ACTUAL
Segments
Consumer
Pharmaceutical
Medical Devices
Total
Operational %(1)
WW As Reported:
1.6%
1.2%
4.7%
2.5%
U.S.
5.8%
(2.0)%
4.1%
1.1%
International
(1.3)%
5.9%
5.3%
4.0%
Beauty
Vogue
(2.9)
(0.5)
U.S.
(6.1)
(0.9)
International
(0.7)
(0.2)
Other Neuroscience
Controlled Substance Raw Material and API Business
0.7
0.3
U.S.
0.9
0.5
International
0.4
0.2
Diagnostics
Ortho-Clinical Diagnostics
0.5
0.2
U.S.
0.0
0.0
International
1.0
0.4
Vision Care
Abbott Medical Optics
(3.6)
(1.3)
U.S.
(3.2)
(1.0)
International
(4.0)
(1.5)
Pulmonary Hypertension
Actelion
(0.6)
(0.3)
U.S.
(0.4)
(0.2)
International
(0.8)
(0.3)
All Other Acquisitions and Divestitures
(0.3)
(0.2)
(0.1)
U.S.
(0.5)
(0.7)
(0.4)
International
(0.1)
0.2
0.1
WW Ops excluding Acquisitions and Divestitures
(1.6)%
1.3%
1.4%
0.8%
U.S.
(0.8)%
(1.5)%
0.2%
(0.9)%
International
(2.1)%
5.5%
2.5%
2.7%
(1)Operational growth excludes the effect of translational currency
REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER
SIX MONTHS
% Change
% Change
2017
2016
Reported Operational (1) Currency
2017
2016
Reported Operational (1) Currency
CONSUMER SEGMENT (2) (3)
BABY CARE
US
$
113
$
126 -10.3%
-10.3%
-
$
226
$
247 -8.5%
-8.5%
-
Intl
381
404
-5.7%
-5.3%
-0.4%
723
766
-5.6%
-5.7%
0.1%
WW
494
530
-6.8%
-6.5%
-0.3%
949
1,013
-6.3%
-6.3%
0.0%
BEAUTY
US
649
554
17.1%
17.1%
-
1,216
1,038
17.1%
17.1%
-
Intl
427
422
1.2%
3.1%
-1.9%
841
817
2.9%
4.0%
-1.1%
WW
1,076
976
10.2%
11.0%
-0.8%
2,057
1,855
10.9%
11.4%
-0.5%
ORAL CARE
US
150
159
-5.7%
-5.7%
-
306
329
-7.0%
-7.0%
-
Intl
244
244
0.0%
0.8%
-0.8%
450
459
-2.0%
-1.7%
-0.3%
WW
394
403
-2.2%
-1.7%
-0.5%
756
788
-4.1%
-3.9%
-0.2%
OTC
US
432
405
6.7%
6.7%
-
909
871
4.4%
4.4%
-
Intl
574
591
-2.9%
-1.1%
-1.8%
1,110
1,124
-1.2%
-0.2%
-1.0%
WW
1,006
996
1.0%
2.1%
-1.1%
2,019
1,995
1.2%
1.8%
-0.6%
WOMEN’S HEALTH
US
3
7
-57.1%
-57.1%
-
6
13
-53.8%
-53.8%
-
Intl
273
276
-1.1%
-1.9%
0.8%
512
521
-1.7%
-3.0%
1.3%
WW
276
283
-2.5%
-3.3%
0.8%
518
534
-3.0%
-4.2%
1.2%
WOUND CARE / OTHER
US
140
133
5.3%
5.3%
-
238
244
-2.5%
-2.5%
-
Intl
92
98
-6.1%
-4.8%
-1.3%
169
185
-8.6%
-8.3%
-0.3%
WW
232
231
0.4%
0.9%
-0.5%
407
429
-5.1%
-5.0%
-0.1%
TOTAL CONSUMER
US
1,487
1,384
7.4%
7.4%
-
2,901
2,742
5.8%
5.8%
-
Intl
1,991
2,035
-2.2%
-1.1%
-1.1%
3,805
3,872
-1.7%
-1.3%
-0.4%
WW
$
3,478
$
3,419
1.7%
2.3%
-0.6%
$
6,706
$
6,614
1.4%
1.6%
-0.2%
REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER
SIX MONTHS
% Change
% Change
2017
2016
Reported Operational (1) Currency
2017
2016
Reported Operational (1) Currency
PHARMACEUTICAL SEGMENT (2) (3)
IMMUNOLOGY
US
$
2,101
$
2,224
-5.5%
-5.5%
-
$
4,224
$
4,395
-3.9%
-3.9%
-
Intl
858
814
5.4%
8.0%
-2.6%
1,665
1,553
7.2%
8.5%
-1.3%
WW
2,959
3,038
-2.6%
-1.9%
-0.7%
5,889
5,948
-1.0%
-0.7%
-0.3%
REMICADE
US
1,064
1,236
-13.9%
-13.9%
-
2,246
2,447
-8.2%
-8.2%
-
US Exports (4)
127
185
-31.4%
-31.4%
-
292
418
-30.1%
-30.1%
-
Intl
339
359
-5.6%
-3.4%
-2.2%
664
694
-4.3%
-4.0%
-0.3%
WW
1,530
1,780
-14.0%
-13.6%
-0.4%
3,202
3,559
-10.0%
-9.9%
-0.1%
SIMPONI / SIMPONI ARIA
US
230
244
-5.7%
-5.7%
-
459
460
-0.2%
-0.2%
-
Intl
209
204
2.5%
4.6%
-2.1%
408
378
7.9%
8.6%
-0.7%
WW
439
448
-2.0%
-1.0%
-1.0%
867
838
3.5%
3.8%
-0.3%
STELARA
US
680
559
21.6%
21.6%
-
1,227
1,070
14.7%
14.7%
-
Intl
303
245
23.7%
27.5%
-3.8%
579
469
23.5%
26.8%
-3.3%
WW
983
804
22.3%
23.4%
-1.1%
1,806
1,539
17.3%
18.3%
-1.0%
OTHER IMMUNOLOGY
US
-
-
-
-
-
-
-
-
-
-
Intl
7
6
16.7%
15.8%
0.9%
14
12
16.7%
14.0%
2.7%
WW
7
6
16.7%
15.8%
0.9%
14
12
16.7%
14.0%
2.7%
INFECTIOUS DISEASES
US
341
362
-5.8%
-5.8%
-
667
720
-7.4%
-7.4%
-
Intl
451
467
-3.4%
-1.5%
-1.9%
874
885
-1.2%
0.6%
-1.8%
WW
792
829
-4.5%
-3.4%
-1.1%
1,541
1,605
-4.0%
-3.0%
-1.0%
EDURANT
US
17
14
21.4%
21.4%
-
29
25
16.0%
16.0%
-
Intl
162
126
28.6%
30.9%
-2.3%
299
234
27.8%
30.6%
-2.8%
WW
179
140
27.9%
30.0%
-2.1%
328
259
26.6%
29.2%
-2.6%
PREZISTA / PREZCOBIX / REZOLSTA
US
278
273
1.8%
1.8%
-
537
550
-2.4%
-2.4%
-
Intl
176
186
-5.4%
-2.9%
-2.5%
347
361
-3.9%
-1.4%
-2.5%
WW
454
459
-1.1%
-0.1%
-1.0%
884
911
-3.0%
-2.0%
-1.0%
OTHER INFECTIOUS DISEASES
US
46
75
-38.7%
-38.7%
-
101
145
-30.3%
-30.3%
-
Intl
113
155
-27.1%
-26.3%
-0.8%
228
290
-21.4%
-21.5%
0.1%
WW
159
230
-30.9%
-30.4%
-0.5%
329
435
-24.4%
-24.4%
0.0%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER
SIX MONTHS
% Change
% Change
2017
2016
Reported Operational (1) Currency
2017
2016
Reported Operational (1) Currency
NEUROSCIENCE
US
620
695
-10.8%
-10.8%
-
1,284
1,375
-6.6%
-6.6%
-
Intl
847
907
-6.6%
-4.1%
-2.5%
1,680
1,776
-5.4%
-3.5%
-1.9%
WW
1,467
1,602
-8.4%
-7.0%
-1.4%
2,964
3,151
-5.9%
-4.9%
-1.0%
CONCERTA / METHYLPHENIDATE
US
76
129
-41.1%
-41.1%
-
184
263
-30.0%
-30.0%
-
Intl
105
109
-3.7%
-1.3%
-2.4%
206
206
0.0%
1.3%
-1.3%
WW
181
238
-23.9%
-22.8%
-1.1%
390
469
-16.8%
-16.2%
-0.6%
INVEGA SUSTENNA / XEPLION / TRINZA
US
387
339
14.2%
14.2%
-
759
644
17.9%
17.9%
-
Intl
242
221
9.5%
13.1%
-3.6%
474
429
10.5%
13.7%
-3.2%
WW
629
560
12.3%
13.7%
-1.4%
1,233
1,073
14.9%
16.2%
-1.3%
RISPERDAL CONSTA
US
91
100
-9.0%
-9.0%
-
186
195
-4.6%
-4.6%
-
Intl
116
130
-10.8%
-8.1%
-2.7%
228
266
-14.3%
-12.0%
-2.3%
WW
207
230
-10.0%
-8.5%
-1.5%
414
461
-10.2%
-8.9%
-1.3%
OTHER NEUROSCIENCE
US
66
127
-48.0%
-48.0%
-
155
273
-43.2%
-43.2%
-
Intl
384
447
-14.1%
-12.1%
-2.0%
772
875
-11.8%
-10.6%
-1.2%
WW
450
574
-21.6%
-20.0%
-1.6%
927
1,148
-19.3%
-18.4%
-0.9%
ONCOLOGY
US
697
569
22.5%
22.5%
-
1,361
1,118
21.7%
21.7%
-
Intl
1,030
905
13.8%
17.0%
-3.2%
1,960
1,710
14.6%
17.6%
-3.0%
WW
1,727
1,474
17.2%
19.2%
-2.0%
3,321
2,828
17.4%
19.2%
-1.8%
DARZALEX
US
212
95
*
*
-
413
196
*
*
-
Intl
87
13
*
*
**
141
13
*
*
**
WW
299
108
*
*
**
554
209
*
*
**
IMBRUVICA
US
202
144
40.3%
40.3%
-
392
276
42.0%
42.0%
-
Intl
248
151
64.2%
69.4%
-5.2%
467
280
66.8%
71.4%
-4.6%
WW
450
295
52.5%
55.1%
-2.6%
859
556
54.5%
56.8%
-2.3%
VELCADE
US
-
-
-
-
-
-
-
-
-
-
Intl
290
342
-15.2%
-12.6%
-2.6%
570
646
-11.8%
-9.0%
-2.8%
WW
290
342
-15.2%
-12.6%
-2.6%
570
646
-11.8%
-9.0%
-2.8%
ZYTIGA
US
241
286
-15.7%
-15.7%
-
474
558
-15.1%
-15.1%
-
Intl
317
315
0.6%
3.2%
-2.6%
607
601
1.0%
3.0%
-2.0%
WW
558
601
-7.2%
-5.8%
-1.4%
1,081
1,159
-6.7%
-5.7%
-1.0%
OTHER ONCOLOGY
US
42
44
-4.5%
-4.5%
-
82
88
-6.8%
-6.8%
-
Intl
88
84
4.8%
7.1%
-2.3%
175
170
2.9%
5.5%
-2.6%
WW
130
128
1.6%
3.1%
-1.5%
257
258
-0.4%
1.3%
-1.7%
PULMONARY HYPERTENSION (5)
US
40
-
**
**
-
40
-
**
**
-
Intl
51
-
**
**
-
51
-
**
**
-
WW
91
-
**
**
-
91
-
**
**
-
OPSUMIT
-
US
24
-
**
**
-
24
-
**
**
-
Intl
21
-
**
**
-
21
-
**
**
-
WW
45
-
**
**
-
45
-
**
**
-
TRACLEER
-
US
2
-
**
**
-
2
-
**
**
-
Intl
24
-
**
**
-
24
-
**
**
-
WW
26
-
**
**
-
26
-
**
**
-
UPTRAVI
-
US
8
-
**
**
-
8
-
**
**
-
Intl
1
-
**
**
-
1
-
**
**
-
WW
9
-
**
**
-
9
-
**
**
-
OTHER(6)
-
US
6
-
**
**
-
6
-
**
**
-
Intl
5
-
**
**
-
5
-
**
**
-
WW
11
-
**
**
-
11
-
**
**
-
CARDIOVASCULAR / METABOLISM / OTHER
US
1,211
1,294
-6.4%
-6.4%
-
2,306
2,473
-6.8%
-6.8%
-
Intl
388
417
-7.0%
-3.0%
-4.0%
768
827
-7.1%
-3.7%
-3.4%
WW
1,599
1,711
-6.5%
-5.5%
-1.0%
3,074
3,300
-6.8%
-6.0%
-0.8%
XARELTO
US
642
594
8.1%
8.1%
-
1,155
1,161
-0.5%
-0.5%
-
Intl
-
-
-
-
-
-
-
-
-
-
WW
642
594
8.1%
8.1%
-
1,155
1,161
-0.5%
-0.5%
-
INVOKANA / INVOKAMET
US
256
348
-26.4%
-26.4%
-
503
645
-22.0%
-22.0%
-
Intl
39
35
11.4%
16.8%
-5.4%
76
63
20.6%
23.9%
-3.3%
WW
295
383
-23.0%
-22.5%
-0.5%
579
708
-18.2%
-17.9%
-0.3%
PROCRIT / EPREX
US
174
230
-24.3%
-24.3%
-
343
413
-16.9%
-16.9%
-
Intl
81
92
-12.0%
-9.7%
-2.3%
159
183
-13.1%
-11.3%
-1.8%
WW
255
322
-20.8%
-20.1%
-0.7%
502
596
-15.8%
-15.3%
-0.5%
OTHER
US
139
122
13.9%
13.9%
-
305
254
20.1%
20.1%
-
Intl
268
290
-7.6%
-3.3%
-4.3%
533
581
-8.3%
-4.4%
-3.9%
WW
407
412
-1.2%
1.9%
-3.1%
838
835
0.4%
3.1%
-2.7%
TOTAL PHARMACEUTICAL
US
5,010
5,144
-2.6%
-2.6%
-
9,882
10,081
-2.0%
-2.0%
-
Intl
3,625
3,510
3.3%
6.1%
-2.8%
6,998
6,751
3.7%
5.9%
-2.2%
WW
$
8,635
8,654
-0.2%
1.0%
-1.2%
$
16,880
16,832
0.3%
1.2%
-0.9%
See footnotes at end of schedule
REPORTED SALES vs. PRIOR PERIOD ($MM)
SECOND QUARTER
SIX MONTHS
% Change
% Change
MEDICAL DEVICES SEGMENT (2)
2017
2016
Reported
Operational (1) Currency
2017
2016
Reported Operational (1) Currency
CARDIOVASCULAR
US
$
265
235
12.8%
12.8%
-
$
524
466
12.4%
12.4%
-
Intl
258
235
9.8%
12.3%
-2.5%
498
447
11.4%
13.2%
-1.8%
WW
523
470
11.3%
12.6%
-1.3%
1,022
913
11.9%
12.8%
-0.9%
DIABETES CARE
US
160
177
-9.6%
-9.6%
-
314
357
-12.0%
-12.0%
-
Intl
261
294
-11.2%
-9.5%
-1.7%
506
543
-6.8%
-5.5%
-1.3%
WW
421
471
-10.6%
-9.5%
-1.1%
820
900
-8.9%
-8.1%
-0.8%
DIAGNOSTICS
US
-
-
-
-
-
-
-
-
-
-
Intl
-
31
**
**
**
1
59
**
**
**
WW
-
31
**
**
**
1
59
**
**
**
ORTHOPAEDICS
US
1,387
1,364
1.7%
1.7%
-
2,766
2,756
0.4%
0.4%
-
Intl
956
991
-3.5%
-1.4%
-2.1%
1,902
1,940
-2.0%
-0.3%
-1.7%
WW
2,343
2,355
-0.5%
0.4%
-0.9%
4,668
4,696
-0.6%
0.1%
-0.7%
HIPS
US
208
197
5.6%
5.6%
-
417
400
4.3%
4.3%
-
Intl
142
152
-6.6%
-4.3%
-2.3%
285
291
-2.1%
-0.1%
-2.0%
WW
350
349
0.3%
1.3%
-1.0%
702
691
1.6%
2.4%
-0.8%
KNEES
US
236
229
3.1%
3.1%
-
482
473
1.9%
1.9%
-
Intl
149
156
-4.5%
-2.5%
-2.0%
301
301
0.0%
2.1%
-2.1%
WW
385
385
0.0%
0.8%
-0.8%
783
774
1.2%
2.0%
-0.8%
TRAUMA
US
390
381
2.4%
2.4%
-
781
762
2.5%
2.5%
-
Intl
253
255
-0.8%
1.1%
-1.9%
504
516
-2.3%
-1.0%
-1.3%
WW
643
636
1.1%
1.9%
-0.8%
1,285
1,278
0.5%
1.0%
-0.5%
SPINE & OTHER
US
553
557
-0.7%
-0.7%
-
1,086
1,121
-3.1%
-3.1%
-
Intl
412
428
-3.7%
-1.6%
-2.1%
812
832
-2.4%
-0.7%
-1.7%
WW
965
985
-2.0%
-1.1%
-0.9%
1,898
1,953
-2.8%
-2.1%
-0.7%
SURGERY
US
1,012
1,020
-0.8%
-0.8%
-
2,007
2,001
0.3%
0.3%
-
Intl
1,372
1,377
-0.4%
1.6%
-2.0%
2,648
2,624
0.9%
2.4%
-1.5%
WW
2,384
2,397
-0.5%
0.6%
-1.1%
4,655
4,625
0.6%
1.5%
-0.9%
ADVANCED
US
400
389
2.8%
2.8%
-
792
741
6.9%
6.9%
-
Intl
533
520
2.5%
4.9%
-2.4%
1,018
984
3.5%
5.4%
-1.9%
WW
933
909
2.6%
4.0%
-1.4%
1,810
1,725
4.9%
6.0%
-1.1%
GENERAL
US
423
421
0.5%
0.5%
-
846
840
0.7%
0.7%
-
Intl
691
706
-2.1%
-0.2%
-1.9%
1,342
1,357
-1.1%
0.4%
-1.5%
WW
1,114
1,127
-1.2%
0.0%
-1.2%
2,188
2,197
-0.4%
0.5%
-0.9%
SPECIALTY
US
189
210
-10.0%
-10.0%
-
369
420
-12.1%
-12.1%
-
Intl
148
151
-2.0%
-1.0%
-1.0%
288
283
1.8%
1.7%
0.1%
WW
337
361
-6.6%
-6.2%
-0.4%
657
703
-6.5%
-6.5%
0.0%
VISION CARE
US
405
248
63.3%
63.3%
-
710
490
44.9%
44.9%
-
Intl
650
437
48.7%
50.3%
-1.6%
1,143
835
36.9%
37.6%
-0.7%
WW
1,055
685
54.0%
55.0%
-1.0%
1,853
1,325
39.8%
40.2%
-0.4%
CONTACT LENSES / OTHER
US
274
248
10.5%
10.5%
-
530
490
8.2%
8.2%
-
Intl
479
437
9.6%
11.2%
-1.6%
906
835
8.5%
9.2%
-0.7%
WW
753
685
9.9%
10.9%
-1.0%
1,436
1,325
8.4%
8.8%
-0.4%
SURGICAL
US
131
-
**
**
-
180
-
**
**
-
Intl
171
-
**
**
-
237
-
**
**
-
WW
302
-
**
**
-
417
-
**
**
-
TOTAL MEDICAL DEVICES
US
3,229
3,044
6.1%
6.1%
-
6,321
6,070
4.1%
4.1%
-
Intl
3,497
3,365
3.9%
5.8%
-1.9%
6,698
6,448
3.9%
5.3%
-1.4%
WW
$
6,726
6,409
4.9%
5.9%
-1.0%
$
13,019
12,518
4.0%
4.7%
-0.7%
* Percentage greater than 100%
** Not meaningful
(1) Operational growth excludes the effect of translational currency
(2) Unaudited
(3) Prior year amounts have been reclassified to conform to current year product disclosure
(4) Reported as U.S. sales
(5) Actelion acquisition completed June 16, 2017
(6) Includes Non-Pulmonary Hypertension products

View original content with multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2017-second-quarter-results-3004897

SOURCE Johnson & Johnson

https://rt.prnewswire.com/rt.gif?NewsItemId=NY44174&Transmission_Id=201707180640PR_NEWS_USPR_____NY44174&DateId=20170718