January 24, 2012

Johnson & Johnson Reports 2011 Fourth-Quarter and Full-Year Results:

2011 Fourth-Quarter Sales of $16.3 Billion Increased 3.9%; EPS was $0.08
2011 Full-Year Sales of $65.0 Billion Increased 5.6%; Full-Year EPS was $3.49
Excluding Special Items, 2011 Fourth-Quarter EPS was $1.13, an Increase of 9.7%*
And 2011 Full-Year EPS was $5.00, an Increase of 5.0%*

NEW BRUNSWICK, N.J., Jan. 24, 2012 /PRNewswire-FirstCall/ -- Johnson & Johnson today announced sales of $16.3 billion for the fourth quarter of 2011, an increase of 3.9% as compared to the fourth quarter of 2010. Operational sales increased 4.0% and the negative impact of currency was 0.1%. Domestic sales declined 3.4%, while international sales increased 10.2%, reflecting an operational increase of 10.4% and a negative currency impact of 0.2%. Worldwide sales for the full-year 2011 were $65.0 billion, an increase of 5.6% versus 2010. Operational sales increased 2.8% and the positive impact of currency was 2.8%.  Domestic sales declined 1.8%, while international sales increased 12.4%, reflecting operational growth of 7.0% and a positive currency impact of 5.4%.

Net earnings and diluted earnings per share for the fourth quarter of 2011 were $0.2 billion and $0.08, respectively. Fourth-quarter 2011 net earnings reflect after-tax charges of $2.9 billion, which include product liability expenses, the net impact of litigation settlements, costs associated with the DePuy ASR Hip recall program, and an adjustment to the value of a currency option and costs related to the planned acquisition of Synthes, Inc. Fourth-quarter 2010 net earnings included after-tax charges of $922 million representing product liability expenses, the net impact of litigation settlements, and costs associated with the DePuy ASR Hip recall program. Excluding these special items for both periods, net earnings for the current quarter were $3.1 billion and diluted earnings per share were $1.13, representing increases of 9.3% and 9.7%, respectively, as compared to the same period in 2010.*

Net earnings and diluted earnings per share for the full-year 2011 were $9.7 billion and $3.49, respectively. Full-year 2011 net earnings reflect after-tax charges of $4.2 billion, which include product liability expenses, the net impact of  litigation settlements, a previously announced restructuring charge by Cordis Corporation, costs associated with the DePuy ASR Hip recall program, and an adjustment to the value of a currency option and costs related to the planned acquisition of Synthes, Inc. Full-year 2010 net earnings included a net after-tax gain of $55 million representing product liability expenses, the net impact of litigation settlements, and costs associated with the DePuy ASR Hip recall program. Excluding these special items in both periods, net earnings for the full-year 2011 were $13.9 billion and diluted earnings per share were $5.00, representing increases of 4.4% and 5.0%, respectively, as compared with the full year of 2010.*                                                     

The Company announced earnings guidance for full-year 2012 of $5.05 to $5.15 per share, which excludes the impact of special items. This guidance reflects operational growth of approximately 3.5% to 5.5% partially offset by an estimated negative impact of currency of approximately 2.5%.

"We delivered solid results for 2011, built on the strong growth of our recently launched pharmaceutical products, and continued the steady momentum of new product approvals across all our businesses," said William C. Weldon, Chairman and Chief Executive Officer.  "Our talented people are focused on bringing meaningful innovations to patients and customers to address significant unmet needs, positioning us well to deliver sustainable leadership and profitable growth in health care."

Worldwide Consumer sales of $14.9 billion for the full-year 2011 represented an increase of 2.0% over the prior year, consisting of an operational decline of 0.7% and a positive impact from currency of 2.7%. Domestic sales decreased 6.7%; international sales increased 7.3%, which reflected an operational increase of 2.9% and a positive currency impact of 4.4%.

Sales in U.S. over-the-counter medicines were significantly impacted by the suspension of manufacturing at the McNeil Consumer Healthcare facility in Fort Washington, Pa., as well as the impact on production volumes related to ongoing efforts to enhance quality and manufacturing systems.  Positive contributors to operational results were international sales of over-the-counter medicines; NEUTROGENA® skin care products; baby care products; and LISTERINE® antiseptic mouthrinse.                                 

Worldwide Pharmaceutical sales of $24.4 billion for the full-year 2011 represented an increase of 8.8% versus the prior year with an operational increase of 6.2% and a positive impact from currency of 2.6%. Domestic sales decreased 1.1%; international sales increased 21.3%, which reflected an operational increase of 15.5% and a positive currency impact of 5.8%.                                             

Sales results in the U.S. were negatively impacted by generic competition for LEVAQUIN® (levofloxacin), a treatment for bacterial infections, which was offset by the strong performance of recently launched products.

The strong performance of recently launched products include STELARA® (ustekinumab), a biologic approved for the treatment of moderate to severe plaque psoriasis; ZYTIGA® (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone or prednisolone, for the treatment of men with metastatic, castration-resistant prostate cancer; INVEGA® SUSTENNA® (paliperidone palmitate) a once-monthly, long-acting, injectable atypical antipsychotic for the acute and maintenance treatment of schizophrenia in adults; and SIMPONI® (golimumab), a biologic approved to treat adults with moderate to severe rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis. 

Also contributing to operational sales growth were strong results for REMICADE® (infliximab), a biologic approved for the treatment of a number of immune-mediated, inflammatory diseases, including incremental sales from the amended distribution agreement with Merck; recently acquired vaccines, proteins and antibodies from Crucell that prevent and/or treat infectious diseases; PREZISTA® (darunavir), a treatment for HIV; and VELCADE® (bortezomib), a treatment for multiple myeloma.

During the quarter, the U.S. Food and Drug Administration (FDA) approved an additional indication for XARELTO® (rivaroxaban) to reduce the risk of stroke and systemic embolism in patients with nonvalvular atrial fibrillation. In addition, the European Commission granted marketing authorization for EDURANT® (rilpivirine) as a once daily treatment, in combination with other antiretroviral agents (ARVs), for the treatment of human immunodeficiency virus type 1 (HIV-1) infection in ARV treatment-naive adult patients with a viral load  < 100,000 HIV-1 RNA copies/mL.

Also during the quarter, supplemental New Drug Applications were submitted to the FDA seeking approval for the use of XARELTO® (rivaroxaban), an oral anticoagulant, to reduce the risk of thrombotic cardiovascular events in patients with Acute Coronary Syndrome, and for NUCYNTA® ER (tapentadol) extended-release tablets, an oral analgesic, for the management of neuropathic pain associated with diabetic peripheral neuropathy in adults. The Company also announced an agreement with Pharmacyclics, Inc. to jointly develop and market the BTK Inhibitor, PCI-32765, for the treatment of cancer.

Worldwide Medical Devices and Diagnostics sales of $25.8 billion for the full-year 2011 represented an increase of 4.8% versus the prior year with an operational increase of 1.7% and a positive impact from currency of 3.1%. Domestic sales decreased 0.4%; international sales increased 9.2%, which reflected an operational increase of 3.4% and a positive currency impact of 5.8%.  

Primary contributors to operational growth included Ethicon's surgical care products; Ethicon Endo-Surgery's Advanced Sterilization Products and international sales of minimally invasive products; Diabetes Care's blood glucose monitoring and insulin delivery products; Biosense Webster's electrophysiology business; and Vistakon's disposable contact lenses. This growth was partially offset by lower sales in the Cardiovascular Care business, reflecting continued market and competitive pressures. As the Company previously announced, we have now exited the drug eluting stent market.

During the quarter, the FDA approved the new ThermoCool® SF irrigated ablation catheter for use in atrial fibrillation and cleared the ENSEAL® G2 Curved and Straight Tissue Sealers to expand surgeons' options for achieving strong vessel seals in both open and minimally invasive surgery. Ethicon Endo-Surgery, Inc. also completed its acquisition of SterilMed, Inc., a leader in the reprocessing and remanufacturing of single-use medical devices in the United States.

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 118,000 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.

* Net earnings and diluted earnings per share excluding 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. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is included in the financial schedules accompanying this press release and can be found in the Investor Relations section of the Company's website at www.investor.jnj.com.    

NOTE TO INVESTORS

Johnson & Johnson will conduct a meeting with members of the investment community to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the meeting 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, and sales of key products/franchises.  Additional information on Johnson & Johnson, including a pharmaceutical pipeline of selected compounds in late stage development and medical devices and diagnostics pipeline of selected products, can be found on the Company's investor website at www.jnj.com

(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995.  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 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, general industry conditions and competition; economic factors, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; trends toward health care cost containment; and increased scrutiny of the healthcare industry by government agencies.  A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended January 2, 2011.  Copies of this Form 10-K, as well as subsequent filings, are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson.  Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.)

  

Johnson & Johnson and Subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplementary Sales Data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited; Dollars in Millions)

 

FOURTH QUARTER

 

TWELVE MONTHS

 

 

 

 

 

 

 

Percent Change

 

 

 

 

 

 

 

 

Percent Change

 

 

 

2011

 

 

2010

 

Total

 

Operations

 

Currency

 

2011

 

2010

 

Total

 

Operations

 

Currency

Sales to customers by

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

segment of business

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    U.S.

$      1,248

 

 

1,219

 

2.4

%

2.4

 

-

 

$      5,151

 

5,519

 

(6.7)

%

(6.7)

 

-

    International

2,420

 

 

2,391

 

1.2

 

2.8

 

(1.6)

 

9,732

 

9,071

 

7.3

 

2.9

 

4.4

 

3,668

 

 

3,610

 

1.6

 

2.7

 

(1.1)

 

14,883

 

14,590

 

2.0

 

(0.7)

 

2.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pharmaceutical

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    U.S.

2,887

 

 

3,149

 

(8.3)

 

(8.3)

 

-

 

12,386

 

12,519

 

(1.1)

 

(1.1)

 

-

    International

3,207

 

 

2,561

 

25.2

 

25.0

 

0.2

 

11,982

 

9,877

 

21.3

 

15.5

 

5.8

 

6,094

 

 

5,710

 

6.7

 

6.6

 

0.1

 

24,368

 

22,396

 

8.8

 

6.2

 

2.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Med Devices & Diagnostics

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    U.S.

2,850

 

 

2,861

 

(0.4)

 

(0.4)

 

-

 

11,371

 

11,412

 

(0.4)

 

(0.4)

 

-

    International

3,643

 

 

3,463

 

5.2

 

4.6

 

0.6

 

14,408

 

13,189

 

9.2

 

3.4

 

5.8

 

6,493

 

 

6,324

 

2.7

 

2.4

 

0.3

 

25,779

 

24,601

 

4.8

 

1.7

 

3.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

6,985

 

 

7,229

 

(3.4)

 

(3.4)

 

-

 

28,908

 

29,450

 

(1.8)

 

(1.8)

 

-

International

9,270

 

 

8,415

 

10.2

 

10.4

 

(0.2)

 

36,122

 

32,137

 

12.4

 

7.0

 

5.4

Worldwide

$    16,255

 

 

15,644

 

3.9

%

4.0

 

(0.1)

 

$    65,030

 

61,587

 

5.6

%

2.8

 

2.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Johnson & Johnson and Subsidiaries

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Supplementary Sales Data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited; Dollars in Millions)

FOURTH QUARTER

 

TWELVE MONTHS

 

 

 

 

 

 

Percent Change

 

 

 

 

 

 

 

 

Percent Change

 

 

 

2011

 

2010

 

Total

 

Operations

 

Currency

 

2011

 

2010

 

Total

 

Operations

 

Currency

Sales to customers by

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

geographic area

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

$     6,985

 

7,229

 

(3.4)

%

(3.4)

 

-

 

$   28,908

 

29,450

 

(1.8)

%

(1.8)

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Europe

4,279

 

3,947

 

8.4

 

9.4

 

(1.0)

 

17,129

 

15,510

 

10.4

 

5.3

 

5.1

Western Hemisphere excluding U.S.

1,688

 

1,471

 

14.8

 

17.8

 

(3.0)

 

6,418

 

5,550

 

15.6

 

12.2

 

3.4

Asia-Pacific, Africa

3,303

 

2,997

 

10.2

 

7.9

 

2.3

 

12,575

 

11,077

 

13.5

 

6.6

 

6.9

International

9,270

 

8,415

 

10.2

 

10.4

 

(0.2)

 

36,122

 

32,137

 

12.4

 

7.0

 

5.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide

$   16,255

 

15,644

 

3.9

%

4.0

 

(0.1)

 

$   65,030

 

61,587

 

5.6

%

2.8

 

2.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Johnson & Johnson and Subsidiaries

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statement of Earnings 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited; in Millions Except Per Share Figures)

FOURTH QUARTER

 

 

 

 

 

 

 

 

 

 

 

2011

 

2010

 

Percent

 

 

 

Percent

 

 

 

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$ 16,255

 

100.0

 

$ 15,644

 

100.0

 

3.9

Cost of products sold

5,338

 

32.8

 

5,040

 

32.2

 

5.9

Selling, marketing and administrative expenses

5,458

 

33.6

 

5,180

 

33.1

 

5.4

Research and development expense

2,155

 

13.3

 

1,982

 

12.7

 

8.7

Interest (income)expense, net

148

 

0.9

 

114

 

0.7

 

 

Other (income)expense, net

2,858

 

17.6

 

1,100

 

7.1

 

 

Restructuring (income)expense, net

(20)

 

(0.1)

 

-

 

-

 

 

Earnings before provision for taxes on income

318

 

1.9

 

2,228

 

14.2

 

(85.7)

Provision for taxes on income

100

 

0.6

 

286

 

1.8

 

(65.0)

Net earnings

$      218

 

1.3

 

$   1,942

 

12.4

 

(88.8)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share  (Diluted)

$     0.08

 

 

 

$     0.70

 

 

 

(88.6)

 

 

 

 

 

 

 

 

 

 

Average shares outstanding  (Diluted)

2,768.9

 

 

 

2,781.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective tax rate

31.4

%

 

 

12.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings before provision for taxes and net earnings

 

 

 

 

 

 

 

 

 

     Earnings before provision for taxes on income

$   3,657

(1)

22.5

 

$   3,451

(1)

22.1

 

6.0

     Net earnings

$   3,129

(1)

19.2

 

$   2,864

(1)

18.3

 

9.3

     Net earnings per share  (Diluted)

$     1.13

(1)

 

 

$     1.03

(1)

 

 

9.7

     Effective tax rate

14.4%

 

 

 

17.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

  

 

 

 

 

 

 

 

 

 

 

Johnson & Johnson and Subsidiaries

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statement of Earnings 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Unaudited; in Millions Except Per Share Figures)

TWELVE MONTHS

 

 

 

 

 

 

 

 

 

 

 

2011

 

2010

 

Percent

 

 

 

Percent

 

 

 

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$ 65,030

 

100.0

 

$ 61,587

 

100.0

 

5.6

Cost of products sold

20,360

 

31.3

 

18,792

 

30.5

 

8.3

Selling, marketing and administrative expenses

20,969

 

32.3

 

19,424

 

31.5

 

8.0

Research and development expense

7,548

 

11.6

 

6,844

 

11.1

 

10.3

Interest (income)expense, net

480

 

0.7

 

348

 

0.6

 

 

Other (income)expense, net

2,743

 

4.2

 

(768)

 

(1.2)

 

 

Restructuring (income)expense, net

569

 

0.9

 

-

 

-

 

 

Earnings before provision for taxes on income

12,361

 

19.0

 

16,947

 

27.5

 

(27.1)

Provision for taxes on income

2,689

 

4.1

 

3,613

 

5.8

 

(25.6)

Net earnings

$   9,672

 

14.9

 

$ 13,334

 

21.7

 

(27.5)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share  (Diluted)

$     3.49

 

 

 

$     4.78

 

 

 

(27.0)

 

 

 

 

 

 

 

 

 

 

Average shares outstanding  (Diluted)

2,775.3

 

 

 

2,788.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective tax rate

21.8

%

 

 

21.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings before provision for taxes and net earnings

 

 

 

 

 

 

 

 

 

     Earnings before provision for taxes on income

$ 17,353

(1)

26.7

 

$ 16,830

(1)

27.3

 

3.1

     Net earnings

$ 13,867

(1)

21.3

 

$ 13,279

(1)

21.6

 

4.4

     Net earnings per share  (Diluted)

$     5.00

(1)

 

 

$     4.76

(1)

 

 

5.0

     Effective tax rate

20.1%

 

 

 

21.1%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

 

FOURTH QUARTER

 

TWELVE MONTHS

 

 

 

% Change

 

 

 

% Change

 

2011

2010

Reported

Operational (1)

Currency

 

2011

2010

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2)

 

 

 

 

 

 

 

 

 

 

 

BABY CARE

 

 

 

 

 

 

 

 

 

 

 

US

103

103

0.0%

0.0%

-

 

418

409

2.2%

2.2%

-

Intl

465

474

-1.9%

0.7%

-2.6%

 

1,922

1,800

6.8%

3.4%

3.4%

WW

568

577

-1.6%

0.6%

-2.2%

 

2,340

2,209

5.9%

3.2%

2.7%

ORAL CARE

 

 

 

 

 

 

 

 

 

 

 

US

173

149

16.1%

16.1%

-

 

656

635

3.3%

3.3%

-

Intl

239

240

-0.4%

1.4%

-1.8%

 

968

891

8.6%

3.9%

4.7%

WW

412

389

5.9%

7.0%

-1.1%

 

1,624

1,526

6.4%

3.6%

2.8%

OTC/NUTRITIONALS

 

 

 

 

 

 

 

 

 

 

 

US

370

381

-2.9%

-2.9%

-

 

1,429

1,853

-22.9%

-22.9%

-

Intl

766

711

7.7%

8.7%

-1.0%

 

2,973

2,696

10.3%

5.2%

5.1%

WW

1,136

1,092

4.0%

4.6%

-0.6%

 

4,402

4,549

-3.2%

-6.2%

3.0%

SKIN CARE

 

 

 

 

 

 

 

 

 

 

 

US

403

352

14.5%

14.5%

-

 

1,654

1,537

7.6%

7.6%

-

Intl

541

537

0.7%

1.3%

-0.6%

 

2,061

1,915

7.6%

3.0%

4.6%

WW

944

889

6.2%

6.6%

-0.4%

 

3,715

3,452

7.6%

5.0%

2.6%

WOMEN'S HEALTH

 

 

 

 

 

 

 

 

 

 

 

US

89

118

-24.6%

-24.6%

-

 

439

522

-15.9%

-15.9%

-

Intl

309

332

-6.9%

-4.0%

-2.9%

 

1,353

1,322

2.3%

-1.5%

3.8%

WW

398

450

-11.6%

-9.5%

-2.1%

 

1,792

1,844

-2.8%

-5.5%

2.7%

WOUND CARE/OTHER

 

 

 

 

 

 

 

 

 

 

 

US

110

116

-5.2%

-5.2%

-

 

555

563

-1.4%

-1.4%

-

Intl

100

97

3.1%

6.2%

-3.1%

 

455

447

1.8%

-3.3%

5.1%

WW

210

213

-1.4%

-0.5%

-0.9%

 

1,010

1,010

0.0%

-2.3%

2.3%

TOTAL CONSUMER

 

 

 

 

 

 

 

 

 

 

 

US

1,248

1,219

2.4%

2.4%

-

 

5,151

5,519

-6.7%

-6.7%

-

Intl

2,420

2,391

1.2%

2.8%

-1.6%

 

9,732

9,071

7.3%

2.9%

4.4%

WW

3,668

3,610

1.6%

2.7%

-1.1%

 

14,883

14,590

2.0%

-0.7%

2.7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See footnotes at end of schedule

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

 

FOURTH QUARTER

 

TWELVE MONTHS

 

 

 

% Change

 

 

 

% Change

 

2011

2010

Reported

Operational (1)

Currency

 

2011

2010

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT  (2) (4)

 

 

 

 

 

 

 

 

 

 

 

ACIPHEX/PARIET

 

 

 

 

 

 

 

 

 

 

 

US

110

119

-7.6%

-7.6%

-

 

414

475

-12.8%

-12.8%

-

Intl

144

133

8.3%

8.7%

-0.4%

 

561

531

5.6%

0.0%

5.6%

WW

254

252

0.8%

1.0%

-0.2%

 

975

1,006

-3.1%

-6.1%

3.0%

CONCERTA/METHYLPHENIDATE

 

 

 

 

 

 

 

 

 

 

 

US

155

261

-40.6%

-40.6%

-

 

822

929

-11.5%

-11.5%

-

Intl

119

107

11.2%

11.6%

-0.4%

 

446

390

14.4%

8.7%

5.7%

WW

274

368

-25.5%

-25.4%

-0.1%

 

1,268

1,319

-3.9%

-5.6%

1.7%

DOXIL/CAELYX

 

 

 

 

 

 

 

 

 

 

 

US

10

55

-81.8%

-81.8%

-

 

140

280

-50.0%

-50.0%

-

Intl

29

12

*

*

-10.3%

 

262

40

*

*

5.3%

WW

39

67

-41.8%

-34.1%

-7.7%

 

402

320

25.6%

22.1%

3.5%

DURAGESIC/FENTANYL TRANSDERMAL

 

 

 

 

 

 

 

 

 

 

 

US

21

45

-53.3%

-53.3%

-

 

90

162

-44.4%

-44.4%

-

Intl

119

151

-21.2%

-21.9%

0.7%

 

499

586

-14.8%

-20.1%

5.3%

WW

140

196

-28.6%

-29.1%

0.5%

 

589

748

-21.3%

-25.5%

4.2%

LEVAQUIN/FLOXIN

 

 

 

 

 

 

 

 

 

 

 

US

(6)

386

*

*

-

 

579

1,312

-55.9%

-55.9%

-

Intl

11

14

-21.4%

-17.7%

-3.7%

 

44

45

-2.2%

-3.7%

1.5%

WW

5

400

-98.8%

-98.7%

-0.1%

 

623

1,357

-54.1%

-54.2%

0.1%

PREZISTA

 

 

 

 

 

 

 

 

 

 

 

US

143

111

28.8%

28.8%

-

 

529

401

31.9%

31.9%

-

Intl

173

125

38.4%

39.0%

-0.6%

 

682

456

49.6%

44.8%

4.8%

WW

316

236

33.9%

34.2%

-0.3%

 

1,211

857

41.3%

38.6%

2.7%

PROCRIT/EPREX

 

 

 

 

 

 

 

 

 

 

 

US

191

270

-29.3%

-29.3%

-

 

814

1,070

-23.9%

-23.9%

-

Intl

177

209

-15.3%

-13.7%

-1.6%

 

809

864

-6.4%

-10.8%

4.4%

WW

368

479

-23.2%

-22.6%

-0.6%

 

1,623

1,934

-16.1%

-18.0%

1.9%

REMICADE

 

 

 

 

 

 

 

 

 

 

 

US 

776

679

14.3%

14.3%

-

 

3,276

3,099

5.7%

5.7%

-

US Exports (3)

437

381

14.7%

14.7%

-

 

1,797

1,487

20.8%

20.8%

-

Intl

215

5

*

*

2.3%

 

419

24

*

*

4.8%

WW

1,428

1,065

34.1%

33.6%

0.5%

 

5,492

4,610

19.1%

18.7%

0.4%

RISPERDAL/RISPERIDONE 

 

 

 

 

 

 

 

 

 

 

 

US

7

2

*

*

-

 

34

(12)

*

*

-

Intl

141

149

-5.4%

-7.9%

2.5%

 

508

539

-5.8%

-11.6%

5.8%

WW

148

151

-2.0%

-4.4%

2.4%

 

542

527

2.8%

-3.1%

5.9%

RISPERDAL CONSTA

 

 

 

 

 

 

 

 

 

 

 

US

108

105

2.9%

2.9%

-

 

443

445

-0.4%

-0.4%

-

Intl

277

283

-2.1%

-1.3%

-0.8%

 

1,140

1,055

8.1%

2.7%

5.4%

WW

385

388

-0.8%

-0.2%

-0.6%

 

1,583

1,500

5.5%

1.7%

3.8%

TOPAMAX

 

 

 

 

 

 

 

 

 

 

 

US

40

37

8.1%

8.1%

-

 

176

199

-11.6%

-11.6%

-

Intl

81

84

-3.6%

-2.6%

-1.0%

 

312

339

-8.0%

-11.9%

3.9%

WW

121

121

0.0%

0.7%

-0.7%

 

488

538

-9.3%

-11.8%

2.5%

VELCADE

 

 

 

 

 

 

 

 

 

 

 

US

-

-

-

-

-

 

-

-

-

-

-

Intl

352

287

22.6%

22.4%

0.2%

 

1,274

1,080

18.0%

12.7%

5.3%

WW

352

287

22.6%

22.4%

0.2%

 

1,274

1,080

18.0%

12.7%

5.3%

OTHER

 

 

 

 

 

 

 

 

 

 

 

US

895

698

28.2%

28.2%

-

 

3,272

2,672

22.5%

22.5%

-

Intl

1,369

1,002

36.6%

36.0%

0.6%

 

5,026

3,928

28.0%

22.2%

5.8%

WW

2,264

1,700

33.2%

32.8%

0.4%

 

8,298

6,600

25.7%

22.2%

3.5%

TOTAL PHARMACEUTICAL

 

 

 

 

 

 

 

 

 

 

 

US

2,887

3,149

-8.3%

-8.3%

-

 

12,386

12,519

-1.1%

-1.1%

-

Intl

3,207

2,561

25.2%

25.0%

0.2%

 

11,982

9,877

21.3%

15.5%

5.8%

WW

6,094

5,710

6.7%

6.6%

0.1%

 

24,368

22,396

8.8%

6.2%

2.6%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See footnotes at end of schedule

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOURTH QUARTER

 

 

 

TWELVE MONTHS

 

 

 

 

 

Total

 

 

 

 

 

Total

 

 

MAJOR NEW PHARM PRODUCTS(4)

2011

2010

% Change

 

 

 

2011

2010

% Change

 

 

(INCLUDED IN OTHER)

 

 

 

 

 

 

 

 

 

 

 

INTELENCE

 

 

 

 

 

 

 

 

 

 

 

US

45

34

32.4%

 

 

 

163

127

28.3%

 

 

Intl

38

31

22.6%

 

 

 

151

116

30.2%

 

 

WW

83

65

27.7%

 

 

 

314

243

29.2%

 

 

INVEGA

 

 

 

 

 

 

 

 

 

 

 

US

66

70

-5.7%

 

 

 

285

270

5.6%

 

 

Intl

59

46

28.3%

 

 

 

214

154

39.0%

 

 

WW

125

116

7.8%

 

 

 

499

424

17.7%

 

 

SIMPONI

 

 

 

 

 

 

 

 

 

 

 

US

62

56

10.7%

 

 

 

235

193

21.8%

 

 

Intl

57

9

*

 

 

 

175

33

*

 

 

WW

119

65

83.1%

 

 

 

410

226

81.4%

 

 

STELARA

 

 

 

 

 

 

 

 

 

 

 

US

126

73

72.6%

 

 

 

443

240

84.6%

 

 

Intl

81

47

72.3%

 

 

 

295

153

92.8%

 

 

WW

207

120

72.5%

 

 

 

738

393

87.8%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See footnotes at end of schedule

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

 

 

 

FOURTH QUARTER

 

TWELVE MONTHS

 

 

 

% Change

 

 

 

% Change

 

2011

2010

Reported

Operational (1)

Currency

 

2011

2010

Reported

Operational (1)

Currency