NEW BRUNSWICK, N.J.,
April 18, 2017 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced sales of
$17.8 billion for the first quarter
of 2017, an increase of 1.6% as compared to the first quarter of
2016. Operational sales results increased 2.0% and the negative
impact of currency was 0.4%. Domestic sales increased 0.6%.
International sales increased 2.8%, reflecting operational growth
of 3.6% and a negative currency impact of 0.8%. Excluding the net
impact of acquisitions and divestitures, on an operational basis,
worldwide sales increased 1.2%, domestic sales decreased 0.7% and
international sales increased 3.4%.*
Net earnings and diluted earnings per share for the first
quarter of 2017 were $4.4 billion and
$1.61, respectively. First-quarter
2017 net earnings included after-tax intangible amortization
expense of approximately $0.2 billion
and a charge for after-tax special items of approximately
$0.4 billion. First-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 $5.0 billion
and adjusted diluted earnings per share were $1.83, representing increases of 3.8% and 5.8%,
respectively, as compared to the same period in 2016.*
On an operational basis, adjusted diluted earnings per share also
increased 7.5%.* A reconciliation of non-GAAP financial
measures is included as an accompanying schedule.
"Johnson & Johnson's first-quarter results are in line with
our expectations and we are confident we will achieve the full-year
financial guidance we established at the beginning of the year,"
said Alex Gorsky, Chairman and Chief
Executive Officer. "The pending acquisition of Actelion
demonstrates our ongoing commitment to bringing innovation to
patients with significant unmet needs, and provides a unique
opportunity for us to expand our portfolio with leading,
differentiated in-market medicines and promising late-stage
products. We look forward to the associates from Actelion
joining the Johnson & Johnson Family of Companies."
The Company is now including the estimated impact of the
Actelion transaction in its financial guidance. As such, the
Company increased its sales guidance for the full-year 2017 to
$75.4 billion to $76.1 billion.
Additionally, the Company increased its adjusted earnings guidance
for full-year 2017 to $7.00 - $7.15
per share.*
Worldwide Consumer sales of $3.2
billion for the first quarter 2017 represented an increase
of 1.0% versus the prior year, consisting of an operational
increase of 0.8% and a positive impact from currency of 0.2%.
Domestic sales increased 4.1%; international sales decreased 1.3%,
which reflected an operational decrease of 1.6% and a positive
currency impact of 0.3%. Excluding the net impact of acquisitions
and divestitures, on an operational basis, worldwide sales
decreased 2.3%, domestic sales decreased 2.9% and international
sales decreased 1.9%*.
Worldwide operational results, excluding the net impact of
acquisitions and divestitures, were negatively impacted by
LISTERINE® oral care products, baby care products, and
wound care products, partially offset by growth in over-the-counter
products, including domestic TYLENOL®
analgesics.
Worldwide Pharmaceutical sales of $8.2
billion for the first quarter 2017 represented an increase
of 0.8% versus the prior year with an operational increase of 1.4%
and a negative impact from currency of 0.6%. Domestic sales
decreased 1.3%; international sales increased 4.1%, which reflected
an operational increase of 5.6% and a negative currency impact of
1.5%. Excluding the net impact of acquisitions and divestitures, on
an operational basis, worldwide sales increased 2.2%, domestic
sales decreased 0.4% and international sales increased
6.1%.*
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, and
INVEGA®
SUSTENNA®/XEPLION®/TRINZA®
(paliperidone palmitate), long-acting, injectable atypical
antipsychotics for the treatment of schizophrenia in adults. Sales
growth was negatively impacted by a positive adjustment of rebate
accruals in the first quarter of 2016, which did not occur to the
same degree in the first quarter of 2017.
During the quarter, the Company announced a definitive agreement
to acquire Actelion Ltd., a leading biopharmaceutical company, for
approximately $30 billion. The public
tender offer for Actelion has been declared successful based on the
number of shares tendered and regulatory approval has been obtained
in six of seven jurisdictions in which the company filed for such
approval, with antitrust approval from the European Commission
pending. The transaction is expected to close in the second quarter
of 2017, subject to the satisfaction of remaining closing
conditions.
Also in the quarter, the Committee for Medicinal Products for
Human Use of the European Medicines Agency issued a positive
opinion recommending broadening the existing marketing
authorization for DARZALEX® (daratumumab) for use in
combination with lenalidomide and dexamethasone; or bortezomib and
dexamethasone, for the treatment of multiple myeloma in patients
who have received at least one prior therapy. A supplemental
New Drug Application was submitted to the U.S. Food and Drug
Administration for IMBRUVICA® (ibrutinib) for the
treatment of chronic Graft-Versus-Host Disease after failure of one
or more lines of systemic therapy.
In April, subsequent to the quarter, a marketing authorization
application was submitted to the European Medicines Agency for
ZYTIGA® (abiraterone acetate) to expand the existing
indication to include treatment of men with newly diagnosed
high-risk metastatic hormone sensitive prostate cancer.
Worldwide Medical Devices sales of $6.3
billion for the first quarter 2017 represented an increase
of 3.0% versus the prior year consisting of an operational increase
of 3.4% and a negative currency impact of 0.4%. Domestic sales
increased 2.2%; international sales increased 3.8%, which reflected
an operational increase of 4.7% and a negative currency impact of
0.9%. Excluding the net impact of acquisitions and divestitures, on
an operational basis, worldwide sales increased 1.7%, domestic
sales decreased 0.2% and international sales increased
3.7%.*
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 endocutters in the Advanced
Surgery business, partially offset by declines in the Diabetes Care
business.
During the quarter, the company completed the acquisition of
Abbott Medical Optics, a wholly-owned subsidiary of Abbott and
global leader in ophthalmic surgery, for approximately $4.3 billion.
Additionally, the acquisitions of Megadyne Medical Products,
Inc., a privately held medical device company that develops,
manufactures and markets electrosurgical tools, and Torax Medical
Inc., a privately held medical device company that manufactures and
markets the LINX™ Reflux Management System for the surgical
treatment of gastroesophageal reflux disease, were completed.
In April, subsequent to the quarter, the acquisition of Neuravi
Limited, a privately held medical device company that develops and
markets medical devices for neurointerventional therapy, was
completed.
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
130,800 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 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; market
conditions and the possibility that the on-going share repurchase
program may be delayed, suspended or discontinued; the impact of
business combinations and divestitures, including the planned
acquisition of Actelion Ltd.; 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 or financial
distress 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 in the sections captioned "Cautionary Note Regarding
Forward-Looking Statements" and "Item 1A. Risk Factors," 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)
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
Percent
Change
|
|
|
2017
|
|
2016
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$
1,414
|
|
1,358
|
|
4.1
|
%
|
4.1
|
|
-
|
International
|
|
1,814
|
|
1,837
|
|
(1.3)
|
|
(1.6)
|
|
0.3
|
|
|
3,228
|
|
3,195
|
|
1.0
|
|
0.8
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
4,872
|
|
4,937
|
|
(1.3)
|
|
(1.3)
|
|
-
|
International
|
|
3,373
|
|
3,241
|
|
4.1
|
|
5.6
|
|
(1.5)
|
|
|
8,245
|
|
8,178
|
|
0.8
|
|
1.4
|
|
(0.6)
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
3,092
|
|
3,026
|
|
2.2
|
|
2.2
|
|
-
|
International
|
|
3,201
|
|
3,083
|
|
3.8
|
|
4.7
|
|
(0.9)
|
|
|
6,293
|
|
6,109
|
|
3.0
|
|
3.4
|
|
(0.4)
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
9,378
|
|
9,321
|
|
0.6
|
|
0.6
|
|
-
|
International
|
|
8,388
|
|
8,161
|
|
2.8
|
|
3.6
|
|
(0.8)
|
Worldwide
|
|
$
17,766
|
|
17,482
|
|
1.6
|
%
|
2.0
|
|
(0.4)
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
|
FIRST
QUARTER
|
|
|
|
|
|
|
Percent
Change
|
|
|
2017
|
|
2016
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
|
$
9,378
|
|
9,321
|
|
0.6
|
%
|
0.6
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
|
3,858
|
|
3,847
|
|
0.3
|
|
4.2
|
|
(3.9)
|
Western Hemisphere
excluding U.S.
|
|
1,454
|
|
1,331
|
|
9.2
|
|
2.5
|
|
6.7
|
Asia-Pacific,
Africa
|
|
3,076
|
|
2,983
|
|
3.1
|
|
3.4
|
|
(0.3)
|
International
|
|
8,388
|
|
8,161
|
|
2.8
|
|
3.6
|
|
(0.8)
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
|
$
17,766
|
|
17,482
|
|
1.6
|
%
|
2.0
|
|
(0.4)
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
FIRST
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
2016
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
17,766
|
|
100.0
|
|
$
17,482
|
|
100.0
|
|
1.6
|
Cost of products
sold
|
5,386
|
|
30.3
|
|
5,329
|
|
30.5
|
|
1.1
|
Selling, marketing
and administrative expenses
|
4,737
|
|
26.6
|
|
4,688
|
|
26.8
|
|
1.0
|
Research and
development expense
|
2,060
|
|
11.6
|
|
2,013
|
|
11.5
|
|
2.3
|
Interest (income)
expense, net
|
83
|
|
0.5
|
|
77
|
|
0.4
|
|
|
Other (income)
expense, net
|
(160)
|
|
(0.9)
|
|
(39)
|
|
(0.2)
|
|
|
Restructuring
|
85
|
|
0.5
|
|
120
|
|
0.7
|
|
|
Earnings before
provision for taxes on income
|
5,575
|
|
31.4
|
|
5,294
|
|
30.3
|
|
5.3
|
Provision for
taxes on income
|
1,153
|
|
6.5
|
|
837
|
|
4.8
|
|
37.8
|
Net
earnings
|
4,422
|
|
24.9
|
|
4,457
|
|
25.5
|
|
(0.8)
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
1.61
|
|
|
|
$
1.59
|
|
|
|
1.3
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,754.5
|
|
|
|
2,803.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
20.7
|
%
|
|
|
15.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
6,103
|
|
34.4
|
|
$
5,801
|
|
33.2
|
|
5.2
|
Net
earnings
|
$
5,038
|
|
28.4
|
|
$
4,854
|
|
27.8
|
|
3.8
|
Net earnings per
share (Diluted)
|
$
1.83
|
|
|
|
$
1.73
|
|
|
|
5.8
|
Effective tax
rate
|
17.5
|
%
|
|
|
16.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Quarter
|
|
% Incr. /
|
|
(Dollars in
Millions Except Per Share Data)
|
|
2017
|
|
2016
|
|
(Decr.)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as reported
|
|
$
5,575
|
|
5,294
|
|
5.3
|
%
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
|
329
|
|
282
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring/Other
(1)
|
|
161
|
|
137
|
|
|
|
|
|
|
|
|
|
|
|
Litigation expense,
net
|
|
-
|
|
66
|
|
|
|
|
|
|
|
|
|
|
|
AMO acquisition
related cost
|
|
38
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
-
|
|
22
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as adjusted
|
|
$
6,103
|
|
5,801
|
|
5.2
|
%
|
|
|
|
|
|
|
|
|
Net Earnings - as
reported
|
|
$
4,422
|
|
4,457
|
|
(0.8)
|
%
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
|
244
|
|
205
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring/Other
|
|
121
|
|
120
|
|
|
|
|
|
|
|
|
|
|
|
Litigation expense,
net
|
|
-
|
|
56
|
|
|
|
|
|
|
|
|
|
|
|
AMO acquisition
related cost
|
|
251
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
-
|
|
16
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings - as
adjusted
|
|
$
5,038
|
|
4,854
|
|
3.8
|
%
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as reported
|
|
$
1.61
|
|
1.59
|
|
1.3
|
%
|
|
|
|
|
|
|
|
|
Intangible asset
amortization expense
|
|
0.09
|
|
0.07
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring/Other
|
|
0.04
|
|
0.04
|
|
|
|
|
|
|
|
|
|
|
|
Litigation expense,
net
|
|
-
|
|
0.02
|
|
|
|
|
|
|
|
|
|
|
|
AMO acquisition
related cost
|
|
0.09
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
-
|
|
0.01
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as adjusted
|
|
$
1.83
|
|
1.73
|
|
5.8
|
%
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted at 2015 foreign currency
exchange rates
|
|
|
|
1.77
|
|
|
|
|
|
|
|
|
|
|
|
Impact of currency at
2016 foreign currency exchange rates
|
|
0.03
|
|
(0.04)
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted at 2016 foreign currency
exchange rates
|
|
$
1.86
|
|
1.73
|
|
7.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
Includes $4M recorded in cost of products sold and $72M recorded in
other (income) expense in the first quarter 2017 and $17M
recorded in cost of products sold in the first quarter
2016.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Sales
Growth Excluding Acquisitions and Divestitures
|
FIRST
QUARTER 2017 ACTUAL vs. 2016 ACTUAL
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational
%(1)
|
|
|
WW As
Reported:
|
|
0.8%
|
|
1.4%
|
|
3.4%
|
|
2.0%
|
U.S.
|
|
4.1%
|
|
(1.3)%
|
|
2.2%
|
|
0.6%
|
International
|
|
(1.6)%
|
|
5.6%
|
|
4.7%
|
|
3.6%
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Vogue
|
|
(3.0)
|
|
|
|
|
|
(0.6)
|
U.S.
|
|
(6.3)
|
|
|
|
|
|
(0.9)
|
International
|
|
(0.7)
|
|
|
|
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
Other
Neuroscience
|
|
|
|
|
|
|
|
|
Controlled
Substance Raw Material and API Business
|
|
|
|
0.8
|
|
|
|
0.4
|
U.S.
|
|
|
|
0.9
|
|
|
|
0.5
|
International
|
|
|
|
0.5
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
Diagnostics
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics
|
|
|
|
|
|
0.5
|
|
0.2
|
U.S.
|
|
|
|
|
|
0.0
|
|
0.0
|
International
|
|
|
|
|
|
1.0
|
|
0.4
|
|
|
|
|
|
|
|
|
|
Vision
Care
|
|
|
|
|
|
|
|
|
Abbott Medical
Optics
|
|
|
|
|
|
(2.0)
|
|
(0.7)
|
U.S.
|
|
|
|
|
|
(1.7)
|
|
(0.6)
|
International
|
|
|
|
|
|
(2.3)
|
|
(0.9)
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
(0.1)
|
|
|
|
(0.2)
|
|
(0.1)
|
U.S.
|
|
(0.7)
|
|
|
|
(0.7)
|
|
(0.3)
|
International
|
|
0.4
|
|
|
|
0.3
|
|
0.2
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
(2.3)%
|
|
2.2%
|
|
1.7%
|
|
1.2%
|
U.S.
|
|
(2.9)%
|
|
(0.4)%
|
|
(0.2)%
|
|
(0.7)%
|
International
|
|
(1.9)%
|
|
6.1%
|
|
3.7%
|
|
3.4%
|
|
|
|
|
|
|
|
|
|
(1)Operational growth excludes the effect
of translational currency
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FIRST
QUARTER
|
|
|
|
|
|
%
Change
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
CONSUMER SEGMENT
(2) (3)
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
US
|
|
$
113
|
|
121
|
-6.6%
|
-6.6%
|
-
|
Intl
|
|
342
|
|
362
|
-5.5%
|
-6.1%
|
0.6%
|
WW
|
|
455
|
|
483
|
-5.8%
|
-6.3%
|
0.5%
|
BEAUTY
|
|
|
|
|
|
|
|
US
|
|
567
|
|
484
|
17.1%
|
17.1%
|
-
|
Intl
|
|
414
|
|
395
|
4.8%
|
5.0%
|
-0.2%
|
WW
|
|
981
|
|
879
|
11.6%
|
11.7%
|
-0.1%
|
ORAL CARE
|
|
|
|
|
|
|
|
US
|
|
156
|
|
170
|
-8.2%
|
-8.2%
|
-
|
Intl
|
|
206
|
|
215
|
-4.2%
|
-4.5%
|
0.3%
|
WW
|
|
362
|
|
385
|
-6.0%
|
-6.2%
|
0.2%
|
OTC
|
|
|
|
|
|
|
|
US
|
|
477
|
|
466
|
2.4%
|
2.4%
|
-
|
Intl
|
|
536
|
|
533
|
0.6%
|
0.7%
|
-0.1%
|
WW
|
|
1,013
|
|
999
|
1.4%
|
1.5%
|
-0.1%
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
US
|
|
3
|
|
6
|
-50.0%
|
-50.0%
|
-
|
Intl
|
|
239
|
|
245
|
-2.4%
|
-4.2%
|
1.8%
|
WW
|
|
242
|
|
251
|
-3.6%
|
-5.3%
|
1.7%
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
US
|
|
98
|
|
111
|
-11.7%
|
-11.7%
|
-
|
Intl
|
|
77
|
|
87
|
-11.5%
|
-12.3%
|
0.8%
|
WW
|
|
175
|
|
198
|
-11.6%
|
-11.9%
|
0.3%
|
|
|
|
|
|
|
|
|
TOTAL
CONSUMER
|
|
|
|
|
|
|
|
US
|
|
1,414
|
|
1,358
|
4.1%
|
4.1%
|
-
|
Intl
|
|
1,814
|
|
1,837
|
-1.3%
|
-1.6%
|
0.3%
|
WW
|
|
$
3,228
|
|
3,195
|
1.0%
|
0.8%
|
0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FIRST
QUARTER
|
|
|
|
|
|
%
Change
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
PHARMACEUTICAL
SEGMENT (2) (3)
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
US
|
|
$
2,123
|
|
2,171
|
-2.2%
|
-2.2%
|
-
|
Intl
|
|
807
|
|
739
|
9.2%
|
9.0%
|
0.2%
|
WW
|
|
2,930
|
|
2,910
|
0.7%
|
0.6%
|
0.1%
|
REMICADE
|
|
|
|
|
|
|
|
US
|
|
1,182
|
|
1,211
|
-2.4%
|
-2.4%
|
-
|
US Exports
(4)
|
|
165
|
|
233
|
-29.2%
|
-29.2%
|
-
|
Intl
|
|
325
|
|
335
|
-3.0%
|
-4.8%
|
1.8%
|
WW
|
|
1,672
|
|
1,779
|
-6.0%
|
-6.3%
|
0.3%
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
US
|
|
229
|
|
216
|
6.0%
|
6.0%
|
-
|
Intl
|
|
199
|
|
174
|
14.4%
|
13.4%
|
1.0%
|
WW
|
|
428
|
|
390
|
9.7%
|
9.2%
|
0.5%
|
STELARA
|
|
|
|
|
|
|
|
US
|
|
547
|
|
511
|
7.0%
|
7.0%
|
-
|
Intl
|
|
276
|
|
224
|
23.2%
|
26.1%
|
-2.9%
|
WW
|
|
823
|
|
735
|
12.0%
|
12.9%
|
-0.9%
|
OTHER
IMMUNOLOGY
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
7
|
|
6
|
16.7%
|
12.1%
|
4.6%
|
WW
|
|
7
|
|
6
|
16.7%
|
12.1%
|
4.6%
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
US
|
|
326
|
|
358
|
-8.9%
|
-8.9%
|
-
|
Intl
|
|
423
|
|
418
|
1.2%
|
2.8%
|
-1.6%
|
WW
|
|
749
|
|
776
|
-3.5%
|
-2.6%
|
-0.9%
|
EDURANT /
RILPIVIRINE
|
|
|
|
|
|
|
|
US
|
|
12
|
|
11
|
9.1%
|
9.1%
|
-
|
Intl
|
|
137
|
|
108
|
26.9%
|
30.4%
|
-3.5%
|
WW
|
|
149
|
|
119
|
25.2%
|
28.3%
|
-3.1%
|
PREZISTA / PREZCOBIX
/ REZOLSTA
|
|
|
|
|
|
|
|
US
|
|
259
|
|
277
|
-6.5%
|
-6.5%
|
-
|
Intl
|
|
171
|
|
175
|
-2.3%
|
0.2%
|
-2.5%
|
WW
|
|
430
|
|
452
|
-4.9%
|
-3.9%
|
-1.0%
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
US
|
|
55
|
|
70
|
-21.4%
|
-21.4%
|
-
|
Intl
|
|
115
|
|
135
|
-14.8%
|
-15.9%
|
1.1%
|
WW
|
|
170
|
|
205
|
-17.1%
|
-17.8%
|
0.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FIRST
QUARTER
|
|
|
|
|
|
%
Change
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
US
|
|
664
|
|
680
|
-2.4%
|
-2.4%
|
-
|
Intl
|
|
833
|
|
869
|
-4.1%
|
-2.9%
|
-1.2%
|
WW
|
|
1,497
|
|
1,549
|
-3.4%
|
-2.7%
|
-0.7%
|
CONCERTA /
METHYLPHENIDATE
|
|
|
|
|
|
|
|
US
|
|
108
|
|
134
|
-19.4%
|
-19.4%
|
-
|
Intl
|
|
101
|
|
97
|
4.1%
|
4.2%
|
-0.1%
|
WW
|
|
209
|
|
231
|
-9.5%
|
-9.5%
|
0.0%
|
INVEGA SUSTENNA /
XEPLION / TRINZA
|
|
|
|
|
|
|
|
US
|
|
372
|
|
305
|
22.0%
|
22.0%
|
-
|
Intl
|
|
232
|
|
208
|
11.5%
|
14.3%
|
-2.8%
|
WW
|
|
604
|
|
513
|
17.7%
|
18.8%
|
-1.1%
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
US
|
|
95
|
|
95
|
0.0%
|
0.0%
|
-
|
Intl
|
|
112
|
|
136
|
-17.6%
|
-15.7%
|
-1.9%
|
WW
|
|
207
|
|
231
|
-10.4%
|
-9.3%
|
-1.1%
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
US
|
|
89
|
|
146
|
-39.0%
|
-39.0%
|
-
|
Intl
|
|
388
|
|
428
|
-9.3%
|
-8.9%
|
-0.4%
|
WW
|
|
477
|
|
574
|
-16.9%
|
-16.6%
|
-0.3%
|
ONCOLOGY
|
|
|
|
|
|
|
|
US
|
|
664
|
|
549
|
20.9%
|
20.9%
|
-
|
Intl
|
|
930
|
|
805
|
15.5%
|
18.3%
|
-2.8%
|
WW
|
|
1,594
|
|
1,354
|
17.7%
|
19.3%
|
-1.6%
|
DARZALEX
|
|
|
|
|
|
|
|
US
|
|
201
|
|
101
|
99.0%
|
99.0%
|
-
|
Intl
|
|
54
|
|
-
|
*
|
*
|
0.0%
|
WW
|
|
255
|
|
101
|
*
|
*
|
0.0%
|
IMBRUVICA
|
|
|
|
|
|
|
|
US
|
|
190
|
|
132
|
43.9%
|
43.9%
|
-
|
Intl
|
|
219
|
|
129
|
69.8%
|
73.7%
|
-3.9%
|
WW
|
|
409
|
|
261
|
56.7%
|
58.6%
|
-1.9%
|
VELCADE
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
280
|
|
304
|
-7.9%
|
-5.0%
|
-2.9%
|
WW
|
|
280
|
|
304
|
-7.9%
|
-5.0%
|
-2.9%
|
ZYTIGA
|
|
|
|
|
|
|
|
US
|
|
233
|
|
272
|
-14.3%
|
-14.3%
|
-
|
Intl
|
|
290
|
|
286
|
1.4%
|
2.7%
|
-1.3%
|
WW
|
|
523
|
|
558
|
-6.3%
|
-5.6%
|
-0.7%
|
OTHER
ONCOLOGY
|
|
|
|
|
|
|
|
US
|
|
40
|
|
44
|
-9.1%
|
-9.1%
|
-
|
Intl
|
|
87
|
|
86
|
1.2%
|
4.1%
|
-2.9%
|
WW
|
|
127
|
|
130
|
-2.3%
|
-0.4%
|
-1.9%
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FIRST
QUARTER
|
|
|
|
|
|
%
Change
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
|
|
US
|
|
1,095
|
|
1,179
|
-7.1%
|
-7.1%
|
-
|
Intl
|
|
380
|
|
410
|
-7.3%
|
-4.5%
|
-2.8%
|
WW
|
|
1,475
|
|
1,589
|
-7.2%
|
-6.5%
|
-0.7%
|
XARELTO
|
|
|
|
|
|
|
|
US
|
|
513
|
|
567
|
-9.5%
|
-9.5%
|
-
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
WW
|
|
513
|
|
567
|
-9.5%
|
-9.5%
|
-
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
US
|
|
247
|
|
297
|
-16.8%
|
-16.8%
|
-
|
Intl
|
|
37
|
|
28
|
32.1%
|
32.8%
|
-0.7%
|
WW
|
|
284
|
|
325
|
-12.6%
|
-12.5%
|
-0.1%
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
US
|
|
169
|
|
183
|
-7.7%
|
-7.7%
|
-
|
Intl
|
|
78
|
|
91
|
-14.3%
|
-13.1%
|
-1.2%
|
WW
|
|
247
|
|
274
|
-9.9%
|
-9.5%
|
-0.4%
|
OTHER
|
|
|
|
|
|
|
|
US
|
|
166
|
|
132
|
25.8%
|
25.8%
|
-
|
Intl
|
|
265
|
|
291
|
-8.9%
|
-5.4%
|
-3.5%
|
WW
|
|
431
|
|
423
|
1.9%
|
4.3%
|
-2.4%
|
|
|
|
|
|
|
|
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
US
|
|
4,872
|
|
4,937
|
-1.3%
|
-1.3%
|
-
|
Intl
|
|
3,373
|
|
3,241
|
4.1%
|
5.6%
|
-1.5%
|
WW
|
|
$
8,245
|
|
8,178
|
0.8%
|
1.4%
|
-0.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FIRST
QUARTER
|
|
|
|
|
|
%
Change
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
MEDICAL DEVICES
SEGMENT (2)
|
|
|
|
|
|
|
|
CARDIOVASCULAR
|
|
|
|
|
|
|
|
US
|
|
$
259
|
|
231
|
12.1%
|
12.1%
|
-
|
Intl
|
|
240
|
|
212
|
13.2%
|
14.2%
|
-1.0%
|
WW
|
|
499
|
|
443
|
12.6%
|
13.1%
|
-0.5%
|
DIABETES
CARE
|
|
|
|
|
|
|
|
US
|
|
154
|
|
180
|
-14.4%
|
-14.4%
|
-
|
Intl
|
|
245
|
|
249
|
-1.6%
|
-0.8%
|
-0.8%
|
WW
|
|
399
|
|
429
|
-7.0%
|
-6.5%
|
-0.5%
|
DIAGNOSTICS
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
1
|
|
28
|
**
|
**
|
**
|
WW
|
|
1
|
|
28
|
**
|
**
|
**
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
US
|
|
1,379
|
|
1,392
|
-0.9%
|
-0.9%
|
-
|
Intl
|
|
946
|
|
949
|
-0.3%
|
1.0%
|
-1.3%
|
WW
|
|
2,325
|
|
2,341
|
-0.7%
|
-0.2%
|
-0.5%
|
HIPS
|
|
|
|
|
|
|
|
US
|
|
209
|
|
203
|
3.0%
|
3.0%
|
-
|
Intl
|
|
143
|
|
139
|
2.9%
|
4.5%
|
-1.6%
|
WW
|
|
352
|
|
342
|
2.9%
|
3.5%
|
-0.6%
|
KNEES
|
|
|
|
|
|
|
|
US
|
|
246
|
|
244
|
0.8%
|
0.8%
|
-
|
Intl
|
|
152
|
|
145
|
4.8%
|
7.0%
|
-2.2%
|
WW
|
|
398
|
|
389
|
2.3%
|
3.1%
|
-0.8%
|
TRAUMA
|
|
|
|
|
|
|
|
US
|
|
391
|
|
381
|
2.6%
|
2.6%
|
-
|
Intl
|
|
251
|
|
261
|
-3.8%
|
-3.1%
|
-0.7%
|
WW
|
|
642
|
|
642
|
0.0%
|
0.3%
|
-0.3%
|
SPINE &
OTHER
|
|
|
|
|
|
|
|
US
|
|
533
|
|
564
|
-5.5%
|
-5.5%
|
-
|
Intl
|
|
400
|
|
404
|
-1.0%
|
0.3%
|
-1.3%
|
WW
|
|
933
|
|
968
|
-3.6%
|
-3.1%
|
-0.5%
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FIRST
QUARTER
|
|
|
|
|
|
%
Change
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
SURGERY
|
|
|
|
|
|
|
|
US
|
|
995
|
|
981
|
1.4%
|
1.4%
|
-
|
Intl
|
|
1,276
|
|
1,247
|
2.3%
|
3.3%
|
-1.0%
|
WW
|
|
2,271
|
|
2,228
|
1.9%
|
2.5%
|
-0.6%
|
ADVANCED
|
|
|
|
|
|
|
|
US
|
|
392
|
|
352
|
11.4%
|
11.4%
|
-
|
Intl
|
|
485
|
|
464
|
4.5%
|
5.9%
|
-1.4%
|
WW
|
|
877
|
|
816
|
7.5%
|
8.3%
|
-0.8%
|
GENERAL
|
|
|
|
|
|
|
|
US
|
|
423
|
|
419
|
1.0%
|
1.0%
|
-
|
Intl
|
|
651
|
|
651
|
0.0%
|
1.2%
|
-1.2%
|
WW
|
|
1,074
|
|
1,070
|
0.4%
|
1.1%
|
-0.7%
|
SPECIALTY
|
|
|
|
|
|
|
|
US
|
|
180
|
|
210
|
-14.3%
|
-14.3%
|
-
|
Intl
|
|
140
|
|
132
|
6.1%
|
4.8%
|
1.3%
|
WW
|
|
320
|
|
342
|
-6.4%
|
-6.9%
|
0.5%
|
VISION
CARE
|
|
|
|
|
|
|
|
US
|
|
305
|
|
242
|
26.0%
|
26.0%
|
-
|
Intl
|
|
493
|
|
398
|
23.9%
|
23.6%
|
0.3%
|
WW
|
|
798
|
|
640
|
24.7%
|
24.5%
|
0.2%
|
CONTACT LENSES /
OTHER
|
|
|
|
|
|
|
|
US
|
|
256
|
|
242
|
5.8%
|
5.8%
|
-
|
Intl
|
|
427
|
|
398
|
7.3%
|
7.0%
|
0.3%
|
WW
|
|
683
|
|
640
|
6.7%
|
6.5%
|
0.2%
|
SURGICAL
|
|
|
|
|
|
|
|
US
|
|
49
|
|
-
|
**
|
**
|
-
|
Intl
|
|
66
|
|
-
|
**
|
**
|
0.0%
|
WW
|
|
115
|
|
-
|
**
|
**
|
0.0%
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
US
|
|
3,092
|
|
3,026
|
2.2%
|
2.2%
|
-
|
Intl
|
|
3,201
|
|
3,083
|
3.8%
|
4.7%
|
-0.9%
|
WW
|
|
$
6,293
|
|
6,109
|
3.0%
|
3.4%
|
-0.4%
|
|
|
|
|
|
|
|
|
* 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
|
|
|
|
|
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2017-first-quarter-results-300440779.html
SOURCE Johnson & Johnson