Johnson & Johnson
Jul 18, 2017

Johnson & Johnson Reports 2017 Second-Quarter Results:

2017 Second-Quarter Sales of $18.8 Billion Increased 1.9% versus 2016
2017 Second-Quarter EPS was $1.40
2017 Adjusted Second-Quarter EPS of $1.83 Increased 5.2%*
Full-Year Adjusted EPS Guidance Increased to a Range of $7.12 to $7.22

NEW BRUNSWICK, N.J., July 18, 2017 /PRNewswire/ -- Johnson & Johnson (NYSE: 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%.*  

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™ 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 (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 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 
















 

 

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SOURCE Johnson & Johnson

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