Johnson & Johnson
Oct 17, 2017

Johnson & Johnson Reports 2017 Third-Quarter Results:

2017 Third-Quarter Sales of $19.7 Billion Increased 10.3% versus 2016
2017 Third-Quarter EPS was $1.37
2017 Adjusted Third-Quarter EPS of $1.90 increased 13.1%*
Accelerated Sales and Adjusted EPS Growth
Increased Full-Year Sales and Adjusted EPS Guidance

NEW BRUNSWICK, N.J., Oct. 17, 2017 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced sales of $19.7 billion for the third quarter of 2017, an increase of 10.3% as compared to the third quarter of 2016. Operational sales results increased 9.5% and the positive impact of currency was 0.8%. Domestic sales increased 9.7%. International sales increased 10.9%, reflecting operational growth of 9.3% and a positive currency impact of 1.6%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide, domestic and international sales each increased 3.8%.*  

Net earnings and diluted earnings per share for the third quarter of 2017 were $3.8 billion and $1.37, respectively. Third-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.9 billion and a charge for after-tax special items of approximately $0.5 billion. Third-quarter 2016 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.2 billion. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.2 billion and adjusted diluted earnings per share were $1.90, representing increases of 11.2% and 13.1%, respectively, as compared to the same period in 2016. * On an operational basis, adjusted diluted earnings per share also increased 10.1%.* A reconciliation of non-GAAP financial measures is included as an accompanying schedule.

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

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

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

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

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

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

Worldwide operational results, excluding the net impact of acquisitions and divestitures, were driven by new products and the strength of core products. Strong growth in new products include DARZALEX® (daratumumab), for the treatment of patients with multiple myeloma and IMBRUVICA® (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer.  Additional contributors to operational sales growth included STELARA® (ustekinumab), a biologic for the treatment of  a number of immune-mediated inflammatory diseases, XARELTO® (rivaroxaban), an oral anticoagulant, ZYTIGA®  (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer and INVEGA® SUSTENNA®/XEPLION®/TRINZA® (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults.

During the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for IMBRUVICA® (ibrutinib) for the treatment of adult patients with chronic graft-versus-host-disease after failure of one or more lines of systemic therapy.  The European Commission granted approval for SYMTUZA® (darunavir/cobicistat/ emtricitabine/tenofovir alafenamide) for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in adults and pediatric patients aged 12 years and older.

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

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

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

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

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

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

About Johnson & Johnson

Caring for the world, one person at a time, inspires and unites the people of Johnson & Johnson. We embrace research and science - bringing innovative ideas, products and services to advance the health and well-being of people. Our approximately 134,100 employees at more than 250 Johnson & Johnson operating companies work with partners in health care to touch the lives of over a billion people every day, throughout the world.

* Operational sales growth excluding the net impact of acquisitions and divestitures, as well as adjusted net earnings, adjusted diluted earnings per share and operational adjusted diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investor Relations section of the company's website at www.investor.jnj.com. Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

Johnson & Johnson will conduct a conference call with investors to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website at www.investor.jnj.com. A replay and podcast will be available approximately two hours after the live webcast by visiting www.investor.jnj.com

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

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic and financial market factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans, including restructuring plans; the impact of business combinations and divestitures, including the Company's ability to successfully integrate Actelion Ltd.'s products and operations and realize the expected benefits and opportunities of the transaction in the expected time frame or at all; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; increased scrutiny of the health care industry by government agencies; and the potential failure to meet obligations in compliance agreements with government bodies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 1, 2017, including under "Item 1A. Risk Factors," its most recently filed Quarterly Report on Form 10-Q, including in the section captioned "Cautionary Note Regarding Forward-Looking Statements," and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.investor.jnj.com, or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

 

Johnson & Johnson and Subsidiaries




















Supplementary Sales Data








































(Unaudited; Dollars in Millions)

THIRD QUARTER


NINE MONTHS






Percent Change






Percent Change


2017


2016


Total


Operations


Currency


2017


2016


Total


Operations


Currency

Sales to customers by




















segment of business








































Consumer




















    U.S.

$   1,285


$   1,291


(0.5)

%

(0.5)


-


$   4,186


$   4,033


3.8

%

3.8


-

    International

2,071


1,970


5.1


3.0


2.1


5,876


5,842


0.6


0.2


0.4


3,356


3,261


2.9


1.6


1.3


10,062


9,875


1.9


1.6


0.3





















Pharmaceutical




















    U.S.

5,816


5,042


15.4


15.4


-


15,698


15,123


3.8


3.8


-

    International

3,879


3,358


15.5


13.5


2.0


10,877


10,109


7.6


8.4


(0.8)


9,695


8,400


15.4


14.6


0.8


26,575


25,232


5.3


5.6


(0.3)





















Medical Devices




















    U.S.

3,189


3,048


4.6


4.6


-


9,510


9,118


4.3


4.3


-

    International

3,410


3,111


9.6


8.6


1.0


10,108


9,559


5.7


6.3


(0.6)


6,599


6,159


7.1


6.6


0.5


19,618


18,677


5.0


5.3


(0.3)





















U.S.

10,290


9,381


9.7


9.7


-


29,394


28,274


4.0


4.0


-

International

9,360


8,439


10.9


9.3


1.6


26,861


25,510


5.3


5.8


(0.5)

Worldwide

$ 19,650


$ 17,820


10.3

%

9.5


0.8


$ 56,255


$ 53,784


4.6

%

4.8


(0.2)

 

 

Johnson & Johnson and Subsidiaries




















Supplementary Sales Data








































(Unaudited; Dollars in Millions)

THIRD QUARTER


NINE MONTHS






Percent Change






Percent Change


2017


2016


Total


Operations


Currency


2017


2016


Total


Operations


Currency

Sales to customers by




















geographic area








































U.S.

$ 10,290


$   9,381


9.7

%

9.7


-


$ 29,394


$ 28,274


4.0

%

4.0


-





















Europe

4,308


3,832


12.4


7.9


4.5


12,398


11,769


5.3


6.2


(0.9)

Western Hemisphere excluding U.S.

1,569


1,396


12.4


10.1


2.3


4,522


4,269


5.9


3.1


2.8

Asia-Pacific, Africa

3,483


3,211


8.5


10.6


(2.1)


9,941


9,472


5.0


6.4


(1.4)

International

9,360


8,439


10.9


9.3


1.6


26,861


25,510


5.3


5.8


(0.5)





















Worldwide

$ 19,650


$ 17,820


10.3

%

9.5


0.8


$ 56,255


$ 53,784


4.6

%

4.8


(0.2)

 

 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings 




















(Unaudited; in Millions Except Per Share Figures)

THIRD QUARTER












2017


2016


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$    19,650


100.0


$    17,820


100.0


10.3

Cost of products sold

6,902


35.1


5,486


30.8


25.8

Selling, marketing and administrative expenses

5,396


27.5


4,772


26.8


13.1

Research and development expense

2,574


13.1


2,178


12.2


18.2

Interest (income) expense, net

155


0.8


95


0.5



Other (income) expense, net

(236)


(1.2)


(54)


(0.2)



Restructuring

69


0.3


62


0.3



Earnings before provision for taxes on income

4,790


24.4


5,281


29.6


(9.3)

Provision for taxes on income

1,026


5.2


1,009


5.6


1.7

Net earnings

$      3,764


19.2


$      4,272


24.0


(11.9)











Net earnings per share (Diluted)

$        1.37




$        1.53




(10.5)











Average shares outstanding (Diluted)

2,737.7




2,785.4















Effective tax rate

21.4

%



19.1

%














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










Earnings before provision for taxes on income

$      6,573


33.5


$      5,831


32.7


12.7

Net earnings

$      5,208


26.5


$      4,683


26.3


11.2

Net earnings per share (Diluted)

$        1.90




$        1.68




13.1

Effective tax rate

20.8

%



19.7

%














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










 

 

Johnson & Johnson and Subsidiaries










Condensed Consolidated Statement of Earnings 




















(Unaudited; in Millions Except Per Share Figures)

NINE MONTHS












2017


2016


Percent




Percent




Percent


Increase


Amount


to Sales


Amount


to Sales


(Decrease)

Sales to customers

$    56,255


100.0


$    53,784


100.0


4.6

Cost of products sold

18,111


32.2


16,151


30.0


12.1

Selling, marketing and administrative expenses

15,395


27.4


14,636


27.2


5.2

Research and development expense

6,919


12.3


6,455


12.0


7.2

In-process research and development

-


-


29


0.1



Interest (income) expense, net

360


0.6


274


0.5



Other (income) expense, net

192


0.3


464


0.9



Restructuring

165


0.3


296


0.5



Earnings before provision for taxes on income

15,113


26.9


15,479


28.8


(2.4)

Provision for taxes on income

3,100


5.5


2,753


5.1


12.6

Net earnings

$    12,013


21.4


$    12,726


23.7


(5.6)











Net earnings per share (Diluted)

$        4.37




$        4.55




(4.0)











Average shares outstanding (Diluted)

2,746.4




2,796.6















Effective tax rate

20.5

%



17.8

%














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










Earnings before provision for taxes on income

$    18,961


33.7


$    17,656


32.8


7.4

Net earnings

$    15,263


27.1


$    14,403


26.8


6.0

Net earnings per share (Diluted)

$        5.56




$        5.15




8.0

Effective tax rate

19.5

%



18.4

%














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










 

 

Johnson & Johnson and Subsidiaries















Reconciliation of Non-GAAP Financial Measures
































Third Quarter


% Incr. /



Nine Months YTD


% Incr. /


(Dollars in Millions Except Per Share Data)


2017


2016


(Decr.)



2017


2016


(Decr.)

















Earnings before provision for taxes on income - as reported


$ 4,790


5,281


(9.3)

%


$ 15,113


15,479


(2.4)

%
















Intangible asset amortization expense


1,077


319





1,886


927



















Litigation expense, net


118


55





611


721



















Restructuring/Other (1)


187


109





476


387



















Actelion acquisition related cost


367


-





580


-



















Diabetes asset impairment


(2)


-





180


-



















AMO acquisition related cost


36


-





115


-



















In-process research and development


-


-





-


29



















Other


-


67





-


113



















Earnings before provision for taxes on income - as adjusted


$ 6,573


5,831


12.7

%


$ 18,961


17,656


7.4

%
















Net Earnings - as reported


$ 3,764


4,272


(11.9)

%


$ 12,013


12,726


(5.6)

%
















Intangible asset amortization expense


933


236





1,555


679



















Litigation expense, net


97


46





449


595



















Restructuring/Other


136


76





358


293



















Actelion acquisition related cost


255


-





454


-



















Diabetes asset impairment


(5)


-





120


-



















AMO acquisition related cost


28


-





314


-



















In-process research and development


-


-





-


23



















Other


-


53





-


87



















Net Earnings - as adjusted 


$ 5,208


4,683


11.2

%


$ 15,263


14,403


6.0

%
















Diluted Net Earnings per share - as reported


$   1.37


1.53


(10.5)

%


$     4.37


4.55


(4.0)

%
















Intangible asset amortization expense


0.34


0.08





0.57


0.24



















Litigation expense, net


0.04


0.02





0.16


0.21



















Restructuring/Other


0.05


0.03





0.14


0.11



















Actelion acquisition related cost


0.09


-





0.16


-



















Diabetes asset impairment


-


-





0.05


-



















AMO acquisition related cost


0.01


-





0.11


-



















In-process research and development


-


-





-


0.01



















Other


-


0.02





-


0.03



















Diluted Net Earnings per share - as adjusted 


$   1.90


1.68


13.1

%


$     5.56


5.15


8.0

%
















Operational Diluted Net Earnings per share - as adjusted at
2015 foreign currency exchange rates




1.68







5.19



















Impact of currency at 2016 foreign currency exchange rates


(0.05)


-





0.01


(0.04)



















Operational Diluted Net Earnings per share - as adjusted at
2016 foreign currency exchange rates


$   1.85


1.68


10.1

%


$     5.57


5.15


8.2

%































(1) Includes $29M recorded in cost of products sold and $89M recorded in other (income) expense for the third quarter 2017. Includes $46M recorded in cost of products sold


and $265M recorded in other (income) expense for nine months 2017 YTD.  Includes $3M recorded in cost of products sold and $44M recorded in other (income) expense for the 


third quarter 2016.  Includes $27M recorded in cost of products sold and $64M recorded in other (income) expense for nine months 2016 YTD.






 

 

Johnson & Johnson and Subsidiaries









Reconciliation of Non-GAAP Financial Measure


















Operational Sales Growth Excluding Acquisitions and Divestitures

 THIRD QUARTER 2017 ACTUAL vs. 2016 ACTUAL 











 Segments 












 Consumer 


 Pharmaceutical 


 Medical Devices 


 Total 



Operational %(1)

 WW As Reported: 


1.6%


14.6%


6.6%


9.5%

 U.S. 


(0.5)%


15.4%


4.6%


9.7%

 International 


3.0%


13.5%


8.6%


9.3%










Beauty









Dr. Ci: Labo


(0.6)






(0.1)

 U.S. 


0.0






0.0

 International 


(1.0)






(0.2)










Vision Care









Abbott Medical Optics






(5.2)


(1.8)

 U.S. 






(4.6)


(1.5)

 International 






(5.7)


(2.1)










Pulmonary Hypertension









Actelion




(7.9)




(3.7)

 U.S. 




(7.7)




(4.1)

 International 




(8.4)




(3.3)



















All Other Acquisitions and Divestitures


0.1




(0.2)


(0.1)

 U.S. 


(0.2)




(0.8)


(0.3)

 International 


0.3




0.3


0.1










WW Ops excluding Acquisitions and Divestitures


1.1%


6.7%


1.2%


3.8%

 U.S. 


(0.7)%


7.7%


(0.8)%


3.8%

 International 


2.3%


5.1%


3.2%


3.8%










(1) Operational growth excludes the effect of translational currency









 

 

Johnson & Johnson and Subsidiaries









Reconciliation of Non-GAAP Financial Measure


















Operational Sales Growth Excluding Acquisitions and Divestitures

 NINE MONTHS 2017 ACTUAL vs. 2016 ACTUAL 


 Segments 












 Consumer 


 Pharmaceutical 


 Medical Devices 


 Total 



Operational %(1)

 WW As Reported: 


1.6%


5.6%


5.3%


4.8%

 U.S. 


3.8%


3.8%


4.3%


4.0%

 International 


0.2%


8.4%


6.3%


5.8%










Beauty









Vogue


(1.9)






(0.4)

 U.S. 


(4.1)






(0.6)

 International 


(0.5)






(0.1)










Other Neuroscience









Controlled Substance Raw Material and API Business




0.5




0.2

 U.S. 




0.6




0.3

 International 




0.3




0.1










Diagnostics









Ortho-Clinical Diagnostics






0.4


0.1

 U.S. 






0.0


0.0

 International 






0.8


0.3










Beauty









Dr. Ci: Labo 


(0.3)






(0.1)

 U.S. 


0.0






0.0

 International 


(0.5)






(0.1)










Vision Care









Abbott Medical Optics






(4.1)


(1.4)

 U.S. 






(3.7)


(1.2)

 International 






(4.6)


(1.7)










Pulmonary Hypertension









Actelion




(3.0)




(1.4)

 U.S. 




(2.8)




(1.5)

 International 




(3.3)




(1.3)










All Other Acquisitions and Divestitures


(0.1)




(0.3)


0.0

 U.S. 


(0.4)




(0.7)


(0.3)

 International 


0.2




0.2


0.0










WW Ops excluding Acquisitions and Divestitures


(0.7)%


3.1%


1.3%


1.8%

 U.S. 


(0.7)%


1.6%


(0.1)%


0.7%

 International 


(0.6)%


5.4%


2.7%


3.0%










(1) Operational growth excludes the effect of translational currency









 

 


THIRD QUARTER


NINE MONTHS






% Change






% Change



2017


2016

Reported

Operational (1)

Currency



2017


2016

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2) (3)
















BABY CARE
















US


$           100


$               118

-15.3%

-15.3%

-



$                  326


$                  365

-10.7%

-10.7%

-

Intl


377


377

0.0%

0.0%

0.0%



1,100


1,143

-3.8%

-3.8%

0.0%

WW


477


495

-3.6%

-3.6%

0.0%



1,426


1,508

-5.4%

-5.4%

0.0%

BEAUTY
















US


523


517

1.2%

1.2%

-



1,739


1,555

11.8%

11.8%

-

Intl


510


462

10.4%

8.0%

2.4%



1,351


1,279

5.6%

5.4%

0.2%

WW


1,033


979

5.5%

4.4%

1.1%



3,090


2,834

9.0%

8.9%

0.1%

ORAL CARE
















US


154


156

-1.3%

-1.3%

-



460


485

-5.2%

-5.2%

-

Intl


228


227

0.4%

-1.4%

1.8%



678


686

-1.2%

-1.6%

0.4%

WW


382


383

-0.3%

-1.3%

1.0%



1,138


1,171

-2.8%

-3.0%

0.2%

OTC
















US


401


386

3.9%

3.9%

-



1,310


1,257

4.2%

4.2%

-

Intl


601


557

7.9%

4.7%

3.2%



1,711


1,681

1.8%

1.4%

0.4%

WW


1,002


943

6.3%

4.4%

1.9%



3,021


2,938

2.8%

2.6%

0.2%

WOMEN'S HEALTH
















US


3


3

0.0%

0.0%

-



9


16

-43.8%

-43.8%

-

Intl


267


266

0.4%

-1.9%

2.3%



779


787

-1.0%

-2.6%

1.6%

WW


270


269

0.4%

-1.8%

2.2%



788


803

-1.9%

-3.5%

1.6%

WOUND CARE / OTHER
















US


104


111

-6.3%

-6.3%

-



342


355

-3.7%

-3.7%

-

Intl


88


81

8.6%

5.9%

2.7%



257


266

-3.4%

-4.0%

0.6%

WW


192


192

0.0%

-1.2%

1.2%



599


621

-3.5%

-3.8%

0.3%

















TOTAL CONSUMER
















US


1,285


1,291

-0.5%

-0.5%

-



4,186


4,033

3.8%

3.8%

-

Intl


2,071


1,970

5.1%

3.0%

2.1%



5,876


5,842

0.6%

0.2%

0.4%

WW


$        3,356


$            3,261

2.9%

1.6%

1.3%



$             10,062


$               9,875

1.9%

1.6%

0.3%

























REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change






% Change



2017


2016

Reported

Operational (1)

Currency



2017


2016

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2) (3)
















IMMUNOLOGY
















US


$        2,420


$            2,294

5.5%

5.5%

-



$               6,644


$               6,689

-0.7%

-0.7%

-

Intl


849


790

7.5%

4.9%

2.6%



2,514


2,343

7.3%

7.3%

0.0%

WW


3,269


3,084

6.0%

5.3%

0.7%



9,158


9,032

1.4%

1.4%

0.0%

  REMICADE
















  US 


1,206


1,222

-1.3%

-1.3%

-



3,452


3,669

-5.9%

-5.9%

-

  US Exports (4)


156


255

-38.8%

-38.8%

-



448


673

-33.4%

-33.4%

-

  Intl


285


306

-6.9%

-10.2%

3.3%



949


1,000

-5.1%

-5.9%

0.8%

  WW


1,647


1,783

-7.6%

-8.2%

0.6%



4,849


5,342

-9.2%

-9.4%

0.2%

  SIMPONI / SIMPONI ARIA
















  US


242


256

-5.5%

-5.5%

-



701


716

-2.1%

-2.1%

-

  Intl


234


225

4.0%

3.2%

0.8%



642


603

6.5%

6.6%

-0.1%

  WW


476


481

-1.0%

-1.4%

0.4%



1,343


1,319

1.8%

1.9%

-0.1%

  STELARA
















  US


800


561

42.6%

42.6%

-



2,027


1,631

24.3%

24.3%

-

  Intl


324


253

28.1%

24.7%

3.4%



903


722

25.1%

26.1%

-1.0%

  WW


1,124


814

38.1%

37.0%

1.1%



2,930


2,353

24.5%

24.8%

-0.3%

  OTHER IMMUNOLOGY
















  US


16


-

*

*

-



16


-

*

*

-

  Intl


6


6

-

-

-



20


18

11.1%

9.4%

1.7%

  WW


22


6

*

*

-



36


18

100.0%

98.3%

1.7%

INFECTIOUS DISEASES
















US


353


387

-8.8%

-8.8%

-



1,020


1,107

-7.9%

-7.9%

-

Intl


460


455

1.1%

-2.3%

3.4%



1,334


1,340

-0.4%

-0.4%

0.0%

WW


813


842

-3.4%

-5.3%

1.9%



2,354


2,447

-3.8%

-3.8%

0.0%

  EDURANT
















  US


15


13

15.4%

15.4%

-



44


38

15.8%

15.8%

-

  Intl


179


136

31.6%

26.0%

5.6%



478


370

29.2%

28.9%

0.3%

  WW


194


149

30.2%

25.1%

5.1%



522


408

27.9%

27.7%

0.2%

  PREZISTA / PREZCOBIX / REZOLSTA
















  US


287


310

-7.4%

-7.4%

-



824


860

-4.2%

-4.2%

-

  Intl


180


183

-1.6%

-5.5%

3.9%



527


544

-3.1%

-2.7%

-0.4%

  WW


467


493

-5.3%

-6.7%

1.4%



1,351


1,404

-3.8%

-3.7%

-0.1%

  OTHER INFECTIOUS DISEASES
















  US


51


64

-20.3%

-20.3%

-



152


209

-27.3%

-27.3%

-

  Intl


101


136

-25.7%

-26.4%

0.7%



329


426

-22.8%

-23.1%

0.3%

  WW


152


200

-24.0%

-24.5%

0.5%



481


635

-24.3%

-24.5%

0.2%

See footnotes at end of schedule


















































REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change






% Change



2017


2016

Reported

Operational (1)

Currency



2017


2016

Reported

Operational (1)

Currency

NEUROSCIENCE
















US


647


622

4.0%

4.0%

-



1,931


1,997

-3.3%

-3.3%

-

Intl


851


842

1.1%

0.6%

0.5%



2,531


2,618

-3.3%

-2.2%

-1.1%

WW


1,498


1,464

2.3%

2.0%

0.3%



4,462


4,615

-3.3%

-2.7%

-0.6%

  CONCERTA / METHYLPHENIDATE
















  US


100


102

-2.0%

-2.0%

-



284


365

-22.2%

-22.2%

-

  Intl


98


88

11.4%

10.5%

0.9%



304


294

3.4%

4.1%

-0.7%

  WW


198


190

4.2%

3.8%

0.4%



588


659

-10.8%

-10.5%

-0.3%

  INVEGA SUSTENNA / XEPLION / TRINZA
















  US


395


339

16.5%

16.5%

-



1,154


983

17.4%

17.4%

-

  Intl


248


217

14.3%

11.0%

3.3%



722


646

11.8%

12.8%

-1.0%

  WW


643


556

15.6%

14.3%

1.3%



1,876


1,629

15.2%

15.6%

-0.4%

  RISPERDAL CONSTA
















  US


87


94

-7.4%

-7.4%

-



273


289

-5.5%

-5.5%

-

  Intl


107


128

-16.4%

-18.0%

1.6%



335


394

-15.0%

-14.0%

-1.0%

  WW


194


222

-12.6%

-13.5%

0.9%



608


683

-11.0%

-10.4%

-0.6%

  OTHER NEUROSCIENCE
















  US


65


87

-25.3%

-25.3%

-



220


360

-38.9%

-38.9%

-

  Intl


398


409

-2.7%

-1.4%

-1.3%



1,170


1,284

-8.9%

-7.7%

-1.2%

  WW


463


496

-6.7%

-5.6%

-1.1%



1,390


1,644

-15.5%

-14.5%

-1.0%

ONCOLOGY
















US


846


622

36.0%

36.0%

-



2,207


1,740

26.8%

26.8%

-

Intl


1,052


895

17.5%

15.2%

2.3%



3,012


2,605

15.6%

16.8%

-1.2%

WW


1,898


1,517

25.1%

23.8%

1.3%



5,219


4,345

20.1%

20.8%

-0.7%

  DARZALEX
















  US


230


124

85.5%

85.5%

-



643


320

*

*

-

  Intl


87


39

*

*

*



228


52

*

*

*

  WW


317


163

94.5%

92.0%

2.5%



871


372

*

*

*

  IMBRUVICA
















  US


230


179

28.5%

28.5%

-



622


455

36.7%

36.7%

-

  Intl


282


170

65.9%

61.8%

4.1%



749


450

66.4%

67.7%

-1.3%

  WW


512


349

46.7%

44.7%

2.0%



1,371


905

51.5%

52.1%

-0.6%

  VELCADE
















  US


-


-

-

-

-



-


-

-

-

-

  Intl


273


304

-10.2%

-11.2%

1.0%



843


950

-11.3%

-9.8%

-1.5%

  WW


273


304

-10.2%

-11.2%

1.0%



843


950

-11.3%

-9.8%

-1.5%

  ZYTIGA
















  US


352


282

24.8%

24.8%

-



826


840

-1.7%

-1.7%

-

  Intl


317


300

5.7%

4.4%

1.3%



924


901

2.6%

3.5%

-0.9%

  WW


669


582

14.9%

14.2%

0.7%



1,750


1,741

0.5%

1.0%

-0.5%

  OTHER ONCOLOGY
















  US


34


37

-8.1%

-8.1%

-



116


125

-7.2%

-7.2%

-

  Intl


93


82

13.4%

11.1%

2.3%



268


252

6.3%

7.3%

-1.0%

  WW


127


119

6.7%

5.1%

1.6%



384


377

1.9%

2.6%

-0.7%

PULMONARY HYPERTENSION(5)
















US


387


-

*

*

-



427


-

*

*

-

Intl


283


-

*

*

-



334


-

*

*

-

WW


670


-

*

*

-



761


-

*

*

-

  OPSUMIT




-












  US


150


-

*

*

-



174


-

*

*

-

  Intl


109


-

*

*

-



130


-

*

*

-

  WW


259


-

*

*

-



304


-

*

*

-

  TRACLEER




-












  US


83


-

*

*

-



85


-

*

*

-

  Intl


127


-

*

*

-



151


-

*

*

-

  WW


210


-

*

*

-



236


-

*

*

-

  UPTRAVI




-












  US


113


-

*

*

-



121


-

*

*

-

  Intl


11


-

*

*

-



12


-

*

*

-

  WW


124


-

*

*

-



133


-

*

*

-

  OTHER 




-












  US


41


-

*

*

-



47


-

*

*

-

  Intl


36


-

*

*

-



41


-

*

*

-

  WW


77


-

*

*

-



88


-

*

*

-

CARDIOVASCULAR / METABOLISM / OTHER
















US


1,163


1,117

4.1%

4.1%

-



3,469


3,590

-3.4%

-3.4%

-

Intl


384


376

2.1%

1.0%

1.1%



1,152


1,203

-4.2%

-2.2%

-2.0%

WW


1,547


1,493

3.6%

3.3%

0.3%



4,621


4,793

-3.6%

-3.1%

-0.5%

  XARELTO
















  US


635


529

20.0%

20.0%

-



1,790


1,690

5.9%

5.9%

-

  Intl


-


-

-

-

-



-


-

-

-

-

  WW


635


529

20.0%

20.0%

-



1,790


1,690

5.9%

5.9%

-

  INVOKANA / INVOKAMET
















  US


220


294

-25.2%

-25.2%

-



723


939

-23.0%

-23.0%

-

  Intl


45


34

32.4%

31.6%

0.8%



121


97

24.7%

26.5%

-1.8%

  WW


265


328

-19.2%

-19.3%

0.1%



844


1,036

-18.5%

-18.3%

-0.2%

  PROCRIT / EPREX
















  US


168


168

0.0%

0.0%

-



511


581

-12.0%

-12.0%

-

  Intl


70


82

-14.6%

-17.6%

3.0%



229


265

-13.6%

-13.3%

-0.3%

  WW


238


250

-4.8%

-5.8%

1.0%



740


846

-12.5%

-12.4%

-0.1%

  OTHER
















  US


140


126

11.1%

11.1%

-



445


380

17.1%

17.1%

-

  Intl


269


260

3.5%

2.9%

0.6%



802


841

-4.6%

-2.1%

-2.5%

  WW


409


386

6.0%

5.6%

0.4%



1,247


1,221

2.1%

3.8%

-1.7%

TOTAL PHARMACEUTICAL
















US


5,816


5,042

15.4%

15.4%

-



15,698


15,123

3.8%

3.8%

-

Intl


3,879


3,358

15.5%

13.5%

2.0%



10,877


10,109

7.6%

8.4%

-0.8%

WW


$        9,695


8,400

15.4%

14.6%

0.8%



$             26,575


25,232

5.3%

5.6%

-0.3%






























See footnotes at end of schedule


















































REPORTED SALES vs. PRIOR PERIOD ($MM)


THIRD QUARTER


NINE MONTHS






% Change








% Change



MEDICAL DEVICES SEGMENT (2)


2017


2016

Reported

Operational (1)

Currency



2017


2016

Reported

Operational (1)

Currency

CARDIOVASCULAR
















US


$           261


235

11.1%

11.1%

-



$                  785


701

12.0%

12.0%

-

Intl


245


216

13.4%

13.9%

-0.5%



743


663

12.1%

13.5%

-1.4%

WW


506


451

12.2%

12.5%

-0.3%



1,528


1,364

12.0%

12.7%

-0.7%

DIABETES CARE
















US


168


191

-12.0%

-12.0%

-



482


548

-12.0%

-12.0%

-

Intl


237


236

0.4%

-2.6%

3.0%



743


779

-4.6%

-4.6%

0.0%

WW


405


427

-5.2%

-6.9%

1.7%



1,225


1,327

-7.7%

-7.7%

0.0%

DIAGNOSTICS
















US


-


-

-

-

-



-


-

-

-

-

Intl


-


7

*

*

*



1


66

*

*

*

WW


-


7

*

*

*



1


66

*

*

*

ORTHOPAEDICS
















US 


1,326


1,343

-1.3%

-1.3%

-



4,092


4,099

-0.2%

-0.2%

-

Intl


925


908

1.9%

0.0%

1.9%



2,827


2,848

-0.7%

-0.2%

-0.5%

WW


2,251


2,251

0.0%

-0.8%

0.8%



6,919


6,947

-0.4%

-0.2%

-0.2%

  HIPS
















  US


195


190

2.6%

2.6%

-



612


590

3.7%

3.7%

-

  Intl


133


130

2.3%

-0.1%

2.4%



418


421

-0.7%

-0.1%

-0.6%

  WW


328


320

2.5%

1.5%

1.0%



1,030


1,011

1.9%

2.2%

-0.3%

  KNEES
















  US


220


223

-1.3%

-1.3%

-



702


696

0.9%

0.9%

-

  Intl


123


132

-6.8%

-9.5%

2.7%



424


433

-2.1%

-1.4%

-0.7%

  WW


343


355

-3.4%

-4.4%

1.0%



1,126


1,129

-0.3%

0.0%

-0.3%

  TRAUMA
















  US


398


389

2.3%

2.3%

-



1,179


1,151

2.4%

2.4%

-

  Intl


264


248

6.5%

4.6%

1.9%



768


764

0.5%

0.8%

-0.3%

  WW


662


637

3.9%

3.1%

0.8%



1,947


1,915

1.7%

1.8%

-0.1%

  SPINE & OTHER
















  US


513


541

-5.2%

-5.2%

-



1,599


1,662

-3.8%

-3.8%

-

  Intl


405


398

1.8%

0.3%

1.5%



1,217


1,230

-1.1%

-0.5%

-0.6%

  WW


918


939

-2.2%

-2.8%

0.6%



2,816


2,892

-2.6%

-2.3%

-0.3%

SURGERY
















US


1,002


1,002

0.0%

0.0%

-



3,009


3,003

0.2%

0.2%

-

Intl


1,344


1,282

4.8%

3.7%

1.1%



3,992


3,906

2.2%

2.9%

-0.7%

WW


2,346


2,284

2.7%

2.1%

0.6%



7,001


6,909

1.3%

1.7%

-0.4%

  ADVANCED
















  US


398


390

2.1%

2.1%

-



1,190


1,131

5.2%

5.2%

-

  Intl


525


494

6.3%

5.3%

1.0%



1,543


1,478

4.4%

5.4%

-1.0%

  WW


923


884

4.4%

3.9%

0.5%



2,733


2,609

4.8%

5.3%

-0.5%

  GENERAL
















  US


430


414

3.9%

3.9%

-



1,276


1,254

1.8%

1.8%

-

  Intl


675


649

4.0%

2.8%

1.2%



2,017


2,006

0.5%

1.1%

-0.6%

  WW


1,105


1,063

4.0%

3.2%

0.8%



3,293


3,260

1.0%

1.4%

-0.4%

  SPECIALTY
















  US


174


198

-12.1%

-12.1%

-



543


618

-12.1%

-12.1%

-

  Intl


144


139

3.6%

2.8%

0.8%



432


422

2.4%

2.1%

0.3%

  WW


318


337

-5.6%

-5.9%

0.3%



975


1,040

-6.3%

-6.4%

0.1%

VISION CARE
















US


432


277

56.0%

56.0%

-



1,142


767

48.9%

48.9%

-

Intl


659


462

42.6%

43.9%

-1.3%



1,802


1,297

38.9%

39.8%

-0.9%

WW


1,091


739

47.6%

48.4%

-0.8%



2,944


2,064

42.6%

43.2%

-0.6%

  CONTACT LENSES / OTHER
















  US


302


277

9.0%

9.0%

-



832


767

8.5%

8.5%

-

  Intl


498


462

7.8%

9.1%

-1.3%



1,404


1,297

8.2%

9.1%

-0.9%

  WW


800


739

8.3%

9.1%

-0.8%



2,236


2,064

8.3%

8.9%

-0.6%

  SURGICAL
















  US


130


-

*

*

-



310


-

*

*

-

  Intl


161


-

*

*

-



398


-

*

*

-

  WW


291


-

*

*

-



708


-

*

*

-

















TOTAL MEDICAL DEVICES
















US


3,189


3,048

4.6%

4.6%

-



9,510


9,118

4.3%

4.3%

-

Intl


3,410


3,111

9.6%

8.6%

1.0%



10,108


9,559

5.7%

6.3%

-0.6%

WW


$        6,599


6,159

7.1%

6.6%

0.5%



$             19,618


18,677

5.0%

5.3%

-0.3%

































* Percentage greater than 100% or not meaningful












(1) Operational growth excludes the effect of translational currency












(2) Unaudited












(3) Prior year amounts have been reclassified to conform to current year product disclosure 












(4) Reported as U.S. sales












(5) Actelion acquisition completed June 16, 2017












 

 

 (PRNewsfoto/Johnson & Johnson)

 

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SOURCE Johnson & Johnson

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