NEW BRUNSWICK, N.J.,
July 16, 2019 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced results
for second-quarter 2019. "We delivered solid second-quarter
underlying sales growth and strong earnings growth that enables us
to make investments in innovation to accelerate performance in each
of our businesses," said Alex
Gorsky, Chairman and Chief Executive Officer. "Our pipelines
continue to progress with the launch of new products and several
regulatory submissions and approvals, which positions us well to
deliver the next wave of transformational products and solutions. I
am proud of our talented colleagues across Johnson & Johnson
who continue to deliver significant healthcare advances to improve
the lives of patients and consumers around the world."
OVERALL FINANCIAL RESULTS:
|
SECOND
QUARTER
|
|
($ in Millions,
except EPS)
|
2019
|
2018
|
%
Change
|
Reported
Sales
|
$
20,562
|
$
20,830
|
(1.3)%
|
Net
Earnings
|
5,607
|
3,954
|
41.8%
|
EPS
(diluted)
|
$
2.08
|
$
1.45
|
43.4%
|
|
|
|
|
Non-GAAP*
|
SECOND
QUARTER
|
|
($ in Millions,
except EPS)
|
2019
|
2018
|
%
Change
|
Operational
Sales1,2
|
N/A
|
N/A
|
01.6%
|
Adjusted
Operational Sales1,3
|
N/A
|
N/A
|
03.7%
|
Adjusted Net
Earnings1,4
|
6,950
|
5,718
|
21.5%
|
Adjusted EPS
(diluted)1,4
|
$
2.58
|
$
2.10
|
22.9%
|
1 Non-GAAP financial measure; refer
to reconciliations of non-GAAP financial measures included in
accompanying schedules
|
2 Excludes the impact of
translational currency
|
3 Excludes the net impact of
acquisitions and divestitures and translational currency
|
4 Excludes intangible amortization
expense and special items
|
REGIONAL SALES RESULTS:
|
SECOND
QUARTER
|
%
Change
|
($ in Millions)
1
|
20192
|
20182
|
Reported2
|
Operational1,2
|
Currency2
|
Adjusted
Operational1,3
|
U.S.
|
$
10,403
|
$
10,640
|
(2.2)%
|
(2.2)
|
-
|
0.0
|
International
|
10,159
|
10,190
|
(0.3)%
|
5.5
|
(5.8)
|
7.6
|
Worldwide
|
$
20,562
|
$
20,830
|
(1.3)%
|
1.6
|
(2.9)
|
3.7
|
1 Non-GAAP financial measure; refer
to reconciliations of non-GAAP financial measures included in
accompanying schedules
|
2 Excludes the impact of
translational currency
|
3 Excludes the net impact of
acquisitions and divestitures and translational currency
|
Note: values may have
been rounded
|
SEGMENT SALES RESULTS:
|
SECOND
QUARTER
|
%
Change
|
($ in Millions)
1
|
20191
|
20181
|
Reported2
|
Operational1,2
|
Currency1
|
Adjusted
Operational1,3
|
Consumer
|
$
3,544
|
$
3,504
|
1.2%
|
4.6
|
(3.4)
|
2.3
|
Pharmaceuticals
|
10,529
|
10,354
|
1.7%
|
4.4
|
(2.7)
|
4.4
|
Medical
Devices
|
6,489
|
6,972
|
(6.9)%
|
(4.1)
|
(2.8)
|
3.2
|
Worldwide
|
$
20,562
|
$
20,830
|
(1.3)%
|
1.6
|
(2.9)
|
3.7
|
1 Non-GAAP
financial measure; refer to reconciliations of non-GAAP financial
measures included in accompanying schedules
|
2 Excludes the
impact of translational currency
|
3 Excludes the
net impact of acquisitions and divestitures and translational
currency
|
Note: values may have
been rounded
|
SEGMENT COMMENTARY:
Consumer
Consumer worldwide operational sales,
excluding the net impact of acquisitions and divestitures, grew
2.3%* driven by NEUTROGENA, AVEENO and OGX beauty products,
over-the-counter products including ZYRTEC upper respiratory and
MOTRIN analgesic products, international LISTERINE mouthwash in
Oral Care products and U.S. Baby
Care products.
Pharmaceutical
Pharmaceutical worldwide operational
sales, excluding the net impact of acquisitions and divestitures
grew 4.4%* driven by DARZALEX (daratumumab), for the treatment of
multiple myeloma, STELARA (ustekinumab), a biologic for the
treatment of a number of immune-mediated inflammatory
diseases, IMBRUVICA (ibrutinib), an oral, once-daily therapy
approved for use in treating certain B-cell malignancies, a type of
blood or lymph node cancer, INVEGA SUSTENNA/XEPLION/INVEGA
TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable
atypical antipsychotics for the treatment of schizophrenia in
adults, TREMFYA (guselkumab), a biologic for the treatment of
adults living with moderate to severe plaque psoriasis, OPSUMIT
(macitentan), an oral endothelin receptor antagonist indicated for
the treatment of pulmonary arterial hypertension to delay disease
progression, ERLEADA (apalutamide), a next-generation androgen
receptor inhibitor for the treatment of patients with
non-metastatic castration-resistant prostate cancer and
PREZISTA/PREZCOBIX/REZOLSTA/ SYMTUZA (D/C/F/TAF) for the treatment
of human immunodeficiency virus type 1 (HIV-1) infection,
partially offset by declines in REMICADE (infliximab), a biologic
approved for the treatment of a number of immune-mediated
inflammatory diseases, and U.S. ZYTIGA (abiraterone acetate), an
oral, once-daily medication for use in combination with prednisone
for the treatment of metastatic, castration-resistant prostate
cancer due to biosimilar and generic entrants.
Medical Devices
Worldwide Medical Devices operational
sales, excluding the net impact of acquisitions and divestitures
grew 3.2%* driven by the growth of electrophysiology products in
the Interventional Solutions business, endocutters and
international energy products in the Advanced Surgery business. As
previously disclosed, the divestiture of the ASP business was
completed, resulting in an approximate $2.0
billion pretax gain in the quarter.
NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:
The information contained in this section should be read in
conjunction with Johnson & Johnson's other disclosures filed
with the Securities and Exchange Commission, including its Current
Reports on Form 8-K, Quarterly Reports on Form 10-Q and Annual
Reports on Form 10-K. Copies of these filings are available online
at www.sec.gov, www.jnj.com or on request from Johnson &
Johnson. The reader is also encouraged to review all other news
releases available online in the Investors section of the company's
website at news releases.
Pipeline
Updates
|
Regulatory
Approvals
|
IMBRUVICA (ibrutinib)
– CHMP Positive Opinions in combination with obinutuzumab in CLL
and in combination with rituximab in WM
|
(press
release)
|
DARZALEX
(daratumumab) – Newly diagnosed patients with Multiple Myeloma in
combination with Lenalidomide and Dexamethasone (U.S.)
|
(press
release)
|
Regulatory
Submissions
|
DARZALEX
(daratumumab) – Subcutaneous formulation in multiple myeloma
(U.S.)1
|
(press
release)
|
ERLEADA (apalutamide)
- Metastatic Hormone-Sensitive Prostate Cancer (EU)
|
(press
release)
|
ERLEADA (apalutamide)
– Metastatic Castration - Sensitive Prostate Cancer
(U.S)
|
(press
release)
|
Rilpivirine and
Cabotegravir - Monthly, Injectable, Two-Drug Regimen for Treatment
of HIV
|
(press
release)
|
1 Subsequent to the
quarter
|
FULL YEAR 2019 GUIDANCE:
Johnson & Johnson does not provide GAAP financial measures
on a forward-looking basis because the company is unable to predict
with reasonable certainty the ultimate outcome of legal
proceedings, unusual gains and losses, acquisition-related expenses
and purchase accounting fair value adjustments without unreasonable
effort. These items are uncertain, depend on various factors, and
could be material to Johnson & Johnson's results computed in
accordance with GAAP.
|
July
2019
|
April
2019
|
($ in Billions,
except EPS)
|
|
|
Adjusted Operational
Sales1,2
Change vs. Prior
Year
|
3.2% -
3.7%
|
2.5% -
3.5%
|
Operational
Sales2
Change vs. Prior
Year
|
$82.4 to
$83.2
1.0% -
2.0%
|
$82.0 to
$82.8
0.5% -
1.5%
|
Estimated Reported
Sales3
Change vs. Prior
Year
|
$80.8 to
$81.6
(1.0%) -
0.0%
|
$80.4 to
$81.2
(1.5%) -
(0.5%)
|
|
|
|
Adjusted Operational
EPS (Diluted)2,4
Change vs. Prior
Year
|
$8.73 to
$8.83
6.7% -
7.9%
|
$8.73 to
$8.83
6.7% -
7.9%
|
Adjusted EPS
(Diluted)3,4
Change vs. Prior
Year
|
$8.53 to
$8.63
4.3% -
5.5%
|
$8.53 to
$8.63
4.3% -
5.5%
|
1 Non-GAAP financial measure; excludes the net
impact of acquisitions and divestitures
|
2 Non-GAAP financial measure; excludes the impact of
translational currency
|
3 Calculated using Euro Average Rate: July 2019 =
$1.12; Euro Average Rate: April 2019 = $1.12 (Illustrative purposes
only)
|
4
Non-GAAP financial measure; excludes
intangible amortization expense and special items
|
Other modeling considerations will be provided on the
webcast.
WEBCAST INFORMATION:
Johnson & Johnson will
conduct a conference call with investors to discuss this earnings
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. A replay and podcast will be available
approximately two hours after the live webcast in the Investors
section of the company's website at
events-and-presentations.
ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson,
we believe good health is the foundation of vibrant lives, thriving
communities and forward progress. That's why for more than 130
years, we have aimed to keep people well at every age and every
stage of life. Today, as the world's largest and most broadly-based
health care company, we are committed to using our reach and size
for good. We strive to improve access and affordability, create
healthier communities, and put a healthy mind, body and environment
within reach of everyone, everywhere. We are blending our heart,
science and ingenuity to profoundly change the trajectory of health
for humanity.
NON-GAAP FINANCIAL MEASURES:
*Operational sales growth
excluding the impact of translational currency, adjusted
operational sales growth excluding the net impact of acquisitions
and divestitures and translational currency, as well as adjusted
net earnings, adjusted diluted earnings per share and adjusted
operational 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 Investors
section of the company's website at quarterly-results.
Copies of the financial schedules accompanying this earnings
release are available on the company's website at
quarterly-results. 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
also be found in the Investors section of the company's website at
quarterly-results.
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 new 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; the impact of business combinations and
divestitures; manufacturing difficulties or delays, internally or
within the supply chain; product efficacy or safety concerns
resulting in product recalls or regulatory action; 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; increased scrutiny of the health
care industry by government agencies. 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 December 30, 2018,
including in the sections captioned "Cautionary Note Regarding
Forward-Looking Statements" and "Item 1A. Risk Factors," in the
company's most recently filed Quarterly Report on Form 10-Q and the
company's subsequent filings with the Securities and Exchange
Commission. Copies of these filings are available online at
www.sec.gov, www.jnj.com or on request from Johnson & Johnson.
Any forward-looking statement made in this release speaks only as
of the date of this release. Johnson & Johnson does not
undertake to update any forward-looking statement as a result of
new information or future events or developments.
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2019
|
|
2018
|
|
Total
|
|
Operations
|
|
Currency
|
|
2019
|
|
2018
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
1,537
|
|
1,476
|
|
4.1
|
%
|
4.1
|
|
-
|
|
$
2,975
|
|
2,912
|
|
2.2
|
%
|
2.2
|
|
-
|
International
|
2,007
|
|
2,028
|
|
(1.0)
|
|
4.9
|
|
(5.9)
|
|
3,887
|
|
3,990
|
|
(2.6)
|
|
4.3
|
|
(6.9)
|
|
3,544
|
|
3,504
|
|
1.2
|
|
4.6
|
|
(3.4)
|
|
6,862
|
|
6,902
|
|
(0.6)
|
|
3.4
|
|
(4.0)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
5,783
|
|
5,899
|
|
(2.0)
|
|
(2.0)
|
|
-
|
|
11,365
|
|
11,253
|
|
1.0
|
|
1.0
|
|
-
|
International
|
4,746
|
|
4,455
|
|
6.5
|
|
12.9
|
|
(6.4)
|
|
9,408
|
|
8,945
|
|
5.2
|
|
12.5
|
|
(7.3)
|
|
10,529
|
|
10,354
|
|
1.7
|
|
4.4
|
|
(2.7)
|
|
20,773
|
|
20,198
|
|
2.8
|
|
6.1
|
|
(3.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
3,083
|
|
3,265
|
|
(5.6)
|
|
(5.6)
|
|
-
|
|
6,192
|
|
6,426
|
|
(3.6)
|
|
(3.6)
|
|
-
|
International
|
3,406
|
|
3,707
|
|
(8.1)
|
|
(2.9)
|
|
(5.2)
|
|
6,756
|
|
7,313
|
|
(7.6)
|
|
(1.6)
|
|
(6.0)
|
|
6,489
|
|
6,972
|
|
(6.9)
|
|
(4.1)
|
|
(2.8)
|
|
12,948
|
|
13,739
|
|
(5.7)
|
|
(2.6)
|
|
(3.1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
10,403
|
|
10,640
|
|
(2.2)
|
|
(2.2)
|
|
-
|
|
20,532
|
|
20,591
|
|
(0.3)
|
|
(0.3)
|
|
-
|
International
|
10,159
|
|
10,190
|
|
(0.3)
|
|
5.5
|
|
(5.8)
|
|
20,051
|
|
20,248
|
|
(1.0)
|
|
5.8
|
|
(6.8)
|
Worldwide
|
$
20,562
|
|
20,830
|
|
(1.3)
|
%
|
1.6
|
|
(2.9)
|
|
$
40,583
|
|
40,839
|
|
(0.6)
|
%
|
2.7
|
|
(3.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
Percentages have been calculated using actual, non-rounded figures
and, therefore, may not recalculate precisely.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2019
|
|
2018
|
|
Total
|
|
Operations
|
|
Currency
|
|
2019
|
|
2018
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
10,403
|
|
10,640
|
|
(2.2)
|
%
|
(2.2)
|
|
-
|
|
$
20,532
|
|
20,591
|
|
(0.3)
|
%
|
(0.3)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
4,733
|
|
4,810
|
|
(1.6)
|
|
4.7
|
|
(6.3)
|
|
9,342
|
|
9,607
|
|
(2.8)
|
|
4.6
|
|
(7.4)
|
Western Hemisphere
excluding U.S.
|
1,455
|
|
1,540
|
|
(5.5)
|
|
4.2
|
|
(9.7)
|
|
2,958
|
|
3,107
|
|
(4.8)
|
|
6.5
|
|
(11.3)
|
Asia-Pacific,
Africa
|
3,971
|
|
3,840
|
|
3.4
|
|
7.2
|
|
(3.8)
|
|
7,751
|
|
7,534
|
|
2.9
|
|
7.0
|
|
(4.1)
|
International
|
10,159
|
|
10,190
|
|
(0.3)
|
|
5.5
|
|
(5.8)
|
|
20,051
|
|
20,248
|
|
(1.0)
|
|
5.8
|
|
(6.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
$
20,562
|
|
20,830
|
|
(1.3)
|
%
|
1.6
|
|
(2.9)
|
|
$
40,583
|
|
40,839
|
|
(0.6)
|
%
|
2.7
|
|
(3.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
Percentages have been calculated using actual, non-rounded figures
and, therefore, may not recalculate precisely.
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
SECOND
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
2018
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
20,562
|
|
100.0
|
|
$
20,830
|
|
100.0
|
|
(1.3)
|
Cost of products
sold
|
6,940
|
|
33.8
|
|
6,927
|
|
33.3
|
|
0.2
|
Gross
Profit
|
13,622
|
|
66.2
|
|
13,903
|
|
66.7
|
|
(2.0)
|
Selling, marketing
and administrative expenses
|
5,546
|
|
27.0
|
|
5,743
|
|
27.5
|
|
(3.4)
|
Research and
development expense
|
2,666
|
|
13.0
|
|
2,639
|
|
12.7
|
|
1.0
|
Interest (income)
expense, net
|
(5)
|
|
0.0
|
|
127
|
|
0.6
|
|
|
Other (income)
expense, net
|
(1,683)
|
|
(8.2)
|
|
364
|
|
1.7
|
|
|
Restructuring
|
57
|
|
0.2
|
|
57
|
|
0.3
|
|
|
Earnings before
provision for taxes on income
|
7,041
|
|
34.2
|
|
4,973
|
|
23.9
|
|
41.6
|
Provision for
taxes on income
|
1,434
|
|
6.9
|
|
1,019
|
|
4.9
|
|
40.7
|
Net
earnings
|
$
5,607
|
|
27.3
|
|
$
3,954
|
|
19.0
|
|
41.8
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
2.08
|
|
|
|
$
1.45
|
|
|
|
43.4
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,691.7
|
|
|
|
2,721.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
20.4
|
%
|
|
|
20.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings (1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
8,614
|
|
41.9
|
|
$
7,014
|
|
33.7
|
|
22.8
|
Net
earnings
|
$
6,950
|
|
33.8
|
|
$
5,718
|
|
27.5
|
|
21.5
|
Net earnings per
share (Diluted)
|
$
2.58
|
|
|
|
$
2.10
|
|
|
|
22.9
|
Effective tax
rate
|
19.3
|
%
|
|
|
18.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
SIX
MONTHS
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
2018
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
40,583
|
|
100.0
|
|
$
40,839
|
|
100.0
|
|
(0.6)
|
Cost of products
sold
|
13,555
|
|
33.4
|
|
13,541
|
|
33.2
|
|
0.1
|
Gross
Profit
|
27,028
|
|
66.6
|
|
27,298
|
|
66.8
|
|
(1.0)
|
Selling, marketing
and administrative expenses
|
10,765
|
|
26.5
|
|
11,006
|
|
27.0
|
|
(2.2)
|
Research and
development expense
|
5,524
|
|
13.6
|
|
5,043
|
|
12.3
|
|
9.5
|
In-process
research and development
|
890
|
|
2.2
|
|
-
|
|
-
|
|
|
Interest (income)
expense, net
|
(2)
|
|
0.0
|
|
272
|
|
0.7
|
|
|
Other (income)
expense, net
|
(1,705)
|
|
(4.2)
|
|
424
|
|
1.0
|
|
|
Restructuring
|
93
|
|
0.3
|
|
99
|
|
0.2
|
|
|
Earnings before
provision for taxes on income
|
11,463
|
|
28.2
|
|
10,454
|
|
25.6
|
|
9.7
|
Provision for
taxes on income
|
2,107
|
|
5.1
|
|
2,133
|
|
5.2
|
|
(1.2)
|
Net
earnings
|
$
9,356
|
|
23.1
|
|
$
8,321
|
|
20.4
|
|
12.4
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
3.47
|
|
|
|
$
3.05
|
|
|
|
13.8
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,697.0
|
|
|
|
2,728.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
18.4
|
%
|
|
|
20.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings (1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
15,481
|
|
38.1
|
|
$
13,872
|
|
34.0
|
|
11.6
|
Net
earnings
|
$
12,611
|
|
31.1
|
|
$
11,353
|
|
27.8
|
|
11.1
|
Net earnings per
share (Diluted)
|
$
4.68
|
|
|
|
$
4.16
|
|
|
|
12.5
|
Effective tax
rate
|
18.5
|
%
|
|
|
18.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second
Quarter
|
|
% Incr. /
|
|
|
Six Months
YTD
|
|
% Incr. /
|
|
(Dollars in
Millions Except Per Share Data)
|
|
|
2019
|
|
2018
|
|
(Decr.)
|
|
|
2019
|
|
2018
|
|
(Decr.)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as reported
|
|
|
$
7,041
|
|
4,973
|
|
41.6
|
%
|
|
$
11,463
|
|
10,454
|
|
9.7
|
%
|
Intangible asset
amortization expense
|
|
|
1,118
|
|
1,084
|
|
|
|
|
2,248
|
|
2,199
|
|
|
|
In-process research
and development
|
|
|
-
|
|
-
|
|
|
|
|
890
|
|
-
|
|
|
|
Litigation expense,
net
|
|
|
409
|
|
703
|
|
|
|
|
832
|
|
703
|
|
|
|
Restructuring/Other
(1)
|
|
|
142
|
|
176
|
|
|
|
|
232
|
|
283
|
|
|
|
Actelion acquisition
related cost
|
|
|
51
|
|
64
|
|
|
|
|
90
|
|
160
|
|
|
|
AMO acquisition
related cost
|
|
|
13
|
|
25
|
|
|
|
|
41
|
|
46
|
|
|
|
Auris Health
acquisition related
|
|
|
(9)
|
|
-
|
|
|
|
|
(9)
|
|
-
|
|
|
|
Unrealized
loss/(gain) on securities
|
|
|
(148)
|
|
(39)
|
|
|
|
|
(306)
|
|
(12)
|
|
|
|
Diabetes asset
impairment
|
|
|
-
|
|
4
|
|
|
|
|
-
|
|
4
|
|
|
|
Other
|
|
|
(3)
|
|
24
|
|
|
|
|
-
|
|
35
|
|
|
|
Earnings before
provision for taxes on income - as adjusted
|
|
|
$
8,614
|
|
7,014
|
|
22.8
|
%
|
|
$
15,481
|
|
13,872
|
|
11.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings - as
reported
|
|
|
$
5,607
|
|
3,954
|
|
41.8
|
%
|
|
$
9,356
|
|
8,321
|
|
12.4
|
%
|
Intangible asset
amortization expense
|
|
|
979
|
|
967
|
|
|
|
|
1,825
|
|
1,963
|
|
|
|
In-process research
and development
|
|
|
-
|
|
-
|
|
|
|
|
703
|
|
-
|
|
|
|
Litigation expense,
net
|
|
|
342
|
|
609
|
|
|
|
|
684
|
|
609
|
|
|
|
Restructuring/Other
|
|
|
116
|
|
152
|
|
|
|
|
191
|
|
233
|
|
|
|
Actelion acquisition
related cost
|
|
|
47
|
|
64
|
|
|
|
|
84
|
|
156
|
|
|
|
AMO acquisition
related cost
|
|
|
10
|
|
22
|
|
|
|
|
33
|
|
39
|
|
|
|
Auris Health
acquisition related
|
|
|
(7)
|
|
-
|
|
|
|
|
(7)
|
|
-
|
|
|
|
Unrealized
loss/(gain) on securities
|
|
|
(117)
|
|
(31)
|
|
|
|
|
(242)
|
|
(10)
|
|
|
|
Diabetes asset
impairment
|
|
|
-
|
|
3
|
|
|
|
|
-
|
|
3
|
|
|
|
Impact of tax
legislation (2)
|
|
|
-
|
|
(40)
|
|
|
|
|
-
|
|
12
|
|
|
|
Other
|
|
|
(27)
|
|
18
|
|
|
|
|
(16)
|
|
27
|
|
|
|
Net Earnings - as
adjusted
|
|
|
$
6,950
|
|
5,718
|
|
21.5
|
%
|
|
$
12,611
|
|
11,353
|
|
11.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net Earnings
per share - as reported
|
|
|
$
2.08
|
|
1.45
|
|
43.4
|
%
|
|
$
3.47
|
|
3.05
|
|
13.8
|
%
|
Intangible asset
amortization expense
|
|
|
0.36
|
|
0.36
|
|
|
|
|
0.68
|
|
0.72
|
|
|
|
In-process research
and development
|
|
|
-
|
|
-
|
|
|
|
|
0.26
|
|
-
|
|
|
|
Litigation expense,
net
|
|
|
0.13
|
|
0.22
|
|
|
|
|
0.26
|
|
0.22
|
|
|
|
Restructuring/Other
|
|
|
0.04
|
|
0.06
|
|
|
|
|
0.07
|
|
0.09
|
|
|
|
Actelion acquisition
related cost
|
|
|
0.02
|
|
0.02
|
|
|
|
|
0.03
|
|
0.05
|
|
|
|
AMO acquisition
related cost
|
|
|
-
|
|
0.01
|
|
|
|
|
0.01
|
|
0.01
|
|
|
|
Auris Health
acquisition related
|
|
|
-
|
|
-
|
|
|
|
|
-
|
|
-
|
|
|
|
Unrealized
loss/(gain) on securities
|
|
|
(0.04)
|
|
(0.01)
|
|
|
|
|
(0.09)
|
|
-
|
|
|
|
Diabetes asset
impairment
|
|
|
-
|
|
-
|
|
|
|
|
-
|
|
-
|
|
|
|
Impact of tax
legislation
|
|
|
-
|
|
(0.02)
|
|
|
|
|
-
|
|
0.01
|
|
|
|
Other
|
|
|
(0.01)
|
|
0.01
|
|
|
|
|
(0.01)
|
|
0.01
|
|
|
|
Diluted Net Earnings
per share - as adjusted
|
|
|
$
2.58
|
|
2.10
|
|
22.9
|
%
|
|
$
4.68
|
|
4.16
|
|
12.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
at 2017 foreign
currency exchange rates
|
|
|
|
|
2.04
|
|
|
|
|
|
|
3.97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impact of currency at
2018 foreign currency exchange rates
|
|
|
0.05
|
|
0.06
|
|
|
|
|
0.13
|
|
0.19
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
at 2018 foreign
currency exchange rates
|
|
|
$
2.63
|
|
2.10
|
|
25.2
|
%
|
|
$
4.81
|
|
4.16
|
|
15.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)Includes $38M recorded in cost of
products sold and $47M recorded in other (income) expense for the
second quarter 2019. Includes $61M recorded in cost of products
sold
|
and $78M recorded in
other (income) expense for six months 2019 YTD. Includes $44M
recorded in cost of products sold and $75M recorded in other
(income) expense for the
|
second quarter
2018. Includes $50M recorded in cost of products sold and
$134M recorded in other (income) expense for six months 2018
YTD.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)Includes foreign currency
translation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Operational Sales Growth
|
SECOND
QUARTER 2019 ACTUAL vs. 2018 ACTUAL
|
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
WW As
Reported
|
|
1.2%
|
|
1.7%
|
|
(6.9)%
|
|
(1.3)%
|
U.S.
|
|
4.1%
|
|
(2.0)%
|
|
(5.6)%
|
|
(2.2)%
|
International
|
|
(1.0)%
|
|
6.5%
|
|
(8.1)%
|
|
(0.3)%
|
|
|
|
|
|
|
|
|
|
WW
Currency
|
|
(3.4)
|
|
(2.7)
|
|
(2.8)
|
|
(2.9)
|
U.S.
|
|
-
|
|
-
|
|
-
|
|
-
|
International
|
|
(5.9)
|
|
(6.4)
|
|
(5.2)
|
|
(5.8)
|
|
|
|
|
|
|
|
|
|
WW
Operational
|
|
4.6%
|
|
4.4%
|
|
(4.1)%
|
|
1.6%
|
U.S.
|
|
4.1%
|
|
(2.0)%
|
|
(5.6)%
|
|
(2.2)%
|
International
|
|
4.9%
|
|
12.9%
|
|
(2.9)%
|
|
5.5%
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Nizoral
|
|
0.6
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.3
|
|
|
|
|
|
0.0
|
International
|
|
0.7
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
OTC
|
|
|
|
|
|
|
|
|
Zarbees
|
|
(0.6)
|
|
|
|
|
|
(0.1)
|
U.S.
|
|
(1.4)
|
|
|
|
|
|
(0.2)
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Diabetes
Care
|
|
|
|
|
|
|
|
|
LifeScan
|
|
|
|
|
|
5.1
|
|
1.7
|
U.S.
|
|
|
|
|
|
4.0
|
|
1.2
|
International
|
|
|
|
|
|
6.2
|
|
2.3
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
RoC
|
|
0.7
|
|
|
|
|
|
0.1
|
U.S.
|
|
1.3
|
|
|
|
|
|
0.2
|
International
|
|
0.3
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Dr. Ci Labo -
Japan
|
|
(3.0)
|
|
|
|
|
|
(0.5)
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
(5.2)
|
|
|
|
|
|
(1.0)
|
|
|
|
|
|
|
|
|
|
Specialty
Surgery
|
|
|
|
|
|
|
|
|
Advanced
Sterilization Products
|
|
|
|
|
|
2.0
|
|
0.7
|
U.S.
|
|
|
|
|
|
3.0
|
|
0.9
|
International
|
|
|
|
|
|
1.2
|
|
0.5
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.0
|
|
0.0
|
|
0.1
|
|
0.0
|
U.S.
|
|
0.0
|
|
0.0
|
|
0.1
|
|
0.0
|
International
|
|
0.1
|
|
0.0
|
|
0.1
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Adjusted
Operational
|
|
2.3%
|
|
4.4%
|
|
3.2%
|
|
3.7%
|
U.S.
|
|
4.4%
|
|
(2.0)%
|
|
1.6%
|
|
0.0%
|
International
|
|
0.7%
|
|
12.9%
|
|
4.7%
|
|
7.6%
|
|
|
|
|
|
|
|
|
|
Note:
Percentages are based on actual, non-rounded figures and may not
sum
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Operational Sales Growth
|
SIX MONTHS
2019 ACTUAL vs. 2018 ACTUAL
|
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
WW As
Reported
|
|
(0.6)%
|
|
2.8%
|
|
(5.7)%
|
|
(0.6)%
|
U.S.
|
|
2.2%
|
|
1.0%
|
|
(3.6)%
|
|
(0.3)%
|
International
|
|
(2.6)%
|
|
5.2%
|
|
(7.6)%
|
|
(1.0)%
|
|
|
|
|
|
|
|
|
|
WW
Currency
|
|
(4.0)
|
|
(3.3)
|
|
(3.1)
|
|
(3.3)
|
U.S.
|
|
-
|
|
-
|
|
-
|
|
-
|
International
|
|
(6.9)
|
|
(7.3)
|
|
(6.0)
|
|
(6.8)
|
|
|
|
|
|
|
|
|
|
WW
Operational
|
|
3.4%
|
|
6.1%
|
|
(2.6)%
|
|
2.7%
|
U.S.
|
|
2.2%
|
|
1.0%
|
|
(3.6)%
|
|
(0.3)%
|
International
|
|
4.3%
|
|
12.5%
|
|
(1.6)%
|
|
5.8%
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Nizoral
|
|
0.5
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.3
|
|
|
|
|
|
0.0
|
International
|
|
0.6
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
OTC
|
|
|
|
|
|
|
|
|
Zarbees
|
|
(0.7)
|
|
|
|
|
|
(0.1)
|
U.S.
|
|
(1.7)
|
|
|
|
|
|
(0.2)
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Diabetes
Care
|
|
|
|
|
|
|
|
|
LifeScan
|
|
|
|
|
|
5.1
|
|
1.7
|
U.S.
|
|
|
|
|
|
3.9
|
|
1.2
|
International
|
|
|
|
|
|
6.1
|
|
2.3
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
RoC
|
|
0.8
|
|
|
|
|
|
0.1
|
U.S.
|
|
1.4
|
|
|
|
|
|
0.2
|
International
|
|
0.3
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Dr. Ci Labo -
Japan
|
|
(2.6)
|
|
|
|
|
|
(0.4)
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
(4.4)
|
|
|
|
|
|
(0.9)
|
|
|
|
|
|
|
|
|
|
Specialty
Surgery
|
|
|
|
|
|
|
|
|
Advanced
Sterilization Products
|
|
|
|
|
|
1.1
|
|
0.4
|
U.S.
|
|
|
|
|
|
1.5
|
|
0.5
|
International
|
|
|
|
|
|
0.6
|
|
0.2
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.1
|
|
0.0
|
|
0.1
|
|
0.1
|
U.S.
|
|
0.0
|
|
0.0
|
|
0.2
|
|
0.1
|
International
|
|
0.2
|
|
0.0
|
|
0.1
|
|
0.1
|
|
|
|
|
|
|
|
|
|
WW Adjusted
Operational
|
|
1.5%
|
|
6.1%
|
|
3.8%
|
|
4.6%
|
U.S.
|
|
2.2%
|
|
1.0%
|
|
2.1%
|
|
1.5%
|
International
|
|
1.0%
|
|
12.5%
|
|
5.3%
|
|
7.7%
|
|
|
|
|
|
|
|
|
|
Note:
Percentages are based on actual, non-rounded figures and may not
sum
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
CONSUMER SEGMENT
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
99
|
|
89
|
11.5%
|
11.5%
|
-
|
|
|
$
186
|
|
186
|
-0.2%
|
-0.2%
|
-
|
Intl
|
|
344
|
|
367
|
-6.3%
|
0.0%
|
-6.3%
|
|
|
651
|
|
727
|
-10.5%
|
-3.2%
|
-7.3%
|
WW
|
|
443
|
|
456
|
-2.8%
|
2.2%
|
-5.0%
|
|
|
837
|
|
913
|
-8.4%
|
-2.6%
|
-5.8%
|
BEAUTY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
663
|
|
637
|
4.1%
|
4.1%
|
-
|
|
|
1,251
|
|
1,248
|
0.3%
|
0.3%
|
-
|
Intl
|
|
539
|
|
472
|
14.1%
|
19.5%
|
-5.4%
|
|
|
1,041
|
|
945
|
10.1%
|
16.3%
|
-6.2%
|
WW
|
|
1,202
|
|
1,109
|
8.4%
|
10.7%
|
-2.3%
|
|
|
2,292
|
|
2,193
|
4.5%
|
7.2%
|
-2.7%
|
ORAL CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
155
|
|
157
|
-1.6%
|
-1.6%
|
-
|
|
|
306
|
|
314
|
-2.5%
|
-2.5%
|
-
|
Intl
|
|
234
|
|
236
|
-0.7%
|
5.3%
|
-6.0%
|
|
|
450
|
|
458
|
-1.7%
|
4.9%
|
-6.6%
|
WW
|
|
389
|
|
393
|
-1.1%
|
2.5%
|
-3.6%
|
|
|
756
|
|
772
|
-2.0%
|
1.9%
|
-3.9%
|
OTC
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
484
|
|
454
|
6.6%
|
6.6%
|
-
|
|
|
991
|
|
919
|
7.8%
|
7.8%
|
-
|
Intl
|
|
580
|
|
612
|
-5.1%
|
0.0%
|
-5.1%
|
|
|
1,160
|
|
1,219
|
-4.9%
|
1.4%
|
-6.3%
|
WW
|
|
1,064
|
|
1,066
|
-0.1%
|
2.8%
|
-2.9%
|
|
|
2,151
|
|
2,138
|
0.6%
|
4.2%
|
-3.6%
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3
|
|
4
|
-10.3%
|
-10.3%
|
-
|
|
|
6
|
|
7
|
-3.7%
|
-3.7%
|
-
|
Intl
|
|
250
|
|
276
|
-9.5%
|
-1.3%
|
-8.2%
|
|
|
472
|
|
516
|
-8.6%
|
1.3%
|
-9.9%
|
WW
|
|
253
|
|
280
|
-9.5%
|
-1.4%
|
-8.1%
|
|
|
478
|
|
523
|
-8.5%
|
1.2%
|
-9.7%
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
132
|
|
135
|
-1.9%
|
-1.9%
|
-
|
|
|
234
|
|
238
|
-1.5%
|
-1.5%
|
-
|
Intl
|
|
61
|
|
65
|
-6.4%
|
-2.0%
|
-4.4%
|
|
|
114
|
|
125
|
-8.9%
|
-3.9%
|
-5.0%
|
WW
|
|
193
|
|
200
|
-3.4%
|
-1.9%
|
-1.5%
|
|
|
348
|
|
363
|
-4.0%
|
-2.3%
|
-1.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CONSUMER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,537
|
|
1,476
|
4.1%
|
4.1%
|
-
|
|
|
2,975
|
|
2,912
|
2.2%
|
2.2%
|
-
|
Intl
|
|
2,007
|
|
2,028
|
-1.0%
|
4.9%
|
-5.9%
|
|
|
3,887
|
|
3,990
|
-2.6%
|
4.3%
|
-6.9%
|
WW
|
|
$
3,544
|
|
3,504
|
1.2%
|
4.6%
|
-3.4%
|
|
|
$
6,862
|
|
6,902
|
-0.6%
|
3.4%
|
-4.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
PHARMACEUTICAL
SEGMENT (2)(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
2,379
|
|
2,317
|
2.7%
|
2.7%
|
-
|
|
|
$
4,542
|
|
4,317
|
5.2%
|
5.2%
|
-
|
Intl
|
|
1,087
|
|
1,021
|
6.3%
|
12.5%
|
-6.2%
|
|
|
2,175
|
|
2,063
|
5.4%
|
12.5%
|
-7.1%
|
WW
|
|
3,466
|
|
3,338
|
3.8%
|
5.7%
|
-1.9%
|
|
|
6,717
|
|
6,380
|
5.3%
|
7.6%
|
-2.3%
|
REMICADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
801
|
|
918
|
-12.7%
|
-12.7%
|
-
|
|
|
1,575
|
|
1,834
|
-14.1%
|
-14.1%
|
-
|
US Exports
(3)
|
|
62
|
|
104
|
-40.3%
|
-40.3%
|
-
|
|
|
138
|
|
246
|
-43.9%
|
-43.9%
|
-
|
Intl
|
|
244
|
|
298
|
-18.5%
|
-13.5%
|
-5.0%
|
|
|
496
|
|
629
|
-21.2%
|
-15.5%
|
-5.7%
|
WW
|
|
1,107
|
|
1,320
|
-16.2%
|
-15.1%
|
-1.1%
|
|
|
2,209
|
|
2,709
|
-18.5%
|
-17.1%
|
-1.3%
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
281
|
|
274
|
2.7%
|
2.7%
|
-
|
|
|
544
|
|
498
|
9.1%
|
9.1%
|
-
|
Intl
|
|
282
|
|
274
|
2.7%
|
8.5%
|
-5.8%
|
|
|
543
|
|
568
|
-4.4%
|
2.2%
|
-6.6%
|
WW
|
|
563
|
|
548
|
2.7%
|
5.6%
|
-2.9%
|
|
|
1,087
|
|
1,066
|
1.9%
|
5.4%
|
-3.5%
|
STELARA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,058
|
|
919
|
15.2%
|
15.2%
|
-
|
|
|
1,940
|
|
1,571
|
23.5%
|
23.5%
|
-
|
Intl
|
|
499
|
|
422
|
18.1%
|
25.0%
|
-6.9%
|
|
|
1,022
|
|
831
|
23.0%
|
31.0%
|
-8.0%
|
WW
|
|
1,558
|
|
1,341
|
16.1%
|
18.3%
|
-2.2%
|
|
|
2,963
|
|
2,402
|
23.3%
|
26.1%
|
-2.8%
|
TREMFYA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
176
|
|
102
|
72.3%
|
72.3%
|
-
|
|
|
344
|
|
168
|
*
|
*
|
-
|
Intl
|
|
59
|
|
24
|
*
|
*
|
*
|
|
|
108
|
|
30
|
*
|
*
|
*
|
WW
|
|
235
|
|
126
|
86.5%
|
88.9%
|
-2.4%
|
|
|
452
|
|
198
|
*
|
*
|
*
|
OTHER
IMMUNOLOGY(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
3
|
|
3
|
27.7%
|
27.0%
|
0.7%
|
|
|
6
|
|
5
|
23.6%
|
24.0%
|
-0.4%
|
WW
|
|
3
|
|
3
|
27.7%
|
27.0%
|
0.7%
|
|
|
6
|
|
5
|
23.6%
|
24.0%
|
-0.4%
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
387
|
|
328
|
17.8%
|
17.8%
|
-
|
|
|
744
|
|
661
|
12.5%
|
12.5%
|
-
|
Intl
|
|
475
|
|
521
|
-8.7%
|
-2.5%
|
-6.2%
|
|
|
964
|
|
1,018
|
-5.3%
|
2.5%
|
-7.8%
|
WW
|
|
862
|
|
849
|
1.5%
|
5.4%
|
-3.9%
|
|
|
1,708
|
|
1,679
|
1.7%
|
6.5%
|
-4.8%
|
EDURANT /
rilpivirine
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
12
|
|
15
|
-15.8%
|
-15.8%
|
-
|
|
|
24
|
|
29
|
-17.3%
|
-17.3%
|
-
|
Intl
|
|
198
|
|
196
|
0.5%
|
6.6%
|
-6.1%
|
|
|
397
|
|
392
|
1.4%
|
8.6%
|
-7.2%
|
WW
|
|
210
|
|
211
|
-0.6%
|
5.0%
|
-5.6%
|
|
|
421
|
|
421
|
0.1%
|
6.8%
|
-6.7%
|
PREZISTA / PREZCOBIX
/ REZOLSTA / SYMTUZA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
344
|
|
277
|
24.2%
|
24.2%
|
-
|
|
|
659
|
|
550
|
19.9%
|
19.9%
|
-
|
Intl
|
|
191
|
|
215
|
-11.1%
|
-4.6%
|
-6.5%
|
|
|
399
|
|
420
|
-5.0%
|
3.4%
|
-8.4%
|
WW
|
|
535
|
|
492
|
8.7%
|
11.6%
|
-2.9%
|
|
|
1,058
|
|
970
|
9.1%
|
12.7%
|
-3.6%
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
31
|
|
36
|
-16.6%
|
-16.6%
|
-
|
|
|
61
|
|
82
|
-26.0%
|
-26.0%
|
-
|
Intl
|
|
86
|
|
110
|
-20.8%
|
-14.6%
|
-6.2%
|
|
|
168
|
|
206
|
-18.6%
|
-10.7%
|
-7.9%
|
WW
|
|
117
|
|
146
|
-19.7%
|
-15.1%
|
-4.6%
|
|
|
229
|
|
288
|
-20.7%
|
-15.1%
|
-5.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
664
|
|
639
|
3.8%
|
3.8%
|
-
|
|
|
1,387
|
|
1,263
|
9.8%
|
9.8%
|
-
|
Intl
|
|
875
|
|
889
|
-1.6%
|
3.9%
|
-5.5%
|
|
|
1,780
|
|
1,824
|
-2.4%
|
4.1%
|
-6.5%
|
WW
|
|
1,538
|
|
1,528
|
0.6%
|
3.9%
|
-3.3%
|
|
|
3,167
|
|
3,087
|
2.6%
|
6.4%
|
-3.8%
|
CONCERTA /
methlyphenidate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
15
|
|
68
|
-78.6%
|
-78.6%
|
-
|
|
|
112
|
|
134
|
-16.4%
|
-16.4%
|
-
|
Intl
|
|
123
|
|
115
|
6.2%
|
12.1%
|
-5.9%
|
|
|
239
|
|
222
|
7.3%
|
13.9%
|
-6.6%
|
WW
|
|
137
|
|
183
|
-25.2%
|
-21.5%
|
-3.7%
|
|
|
351
|
|
356
|
-1.6%
|
2.5%
|
-4.1%
|
INVEGA SUSTENNA /
XEPLION /
INVEGA TRINZA / TREVICTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
506
|
|
438
|
15.6%
|
15.6%
|
-
|
|
|
989
|
|
838
|
18.1%
|
18.1%
|
-
|
Intl
|
|
312
|
|
282
|
10.4%
|
17.2%
|
-6.8%
|
|
|
619
|
|
578
|
7.0%
|
14.7%
|
-7.7%
|
WW
|
|
818
|
|
720
|
13.6%
|
16.3%
|
-2.7%
|
|
|
1,608
|
|
1,416
|
13.6%
|
16.7%
|
-3.1%
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
81
|
|
80
|
0.8%
|
0.8%
|
-
|
|
|
158
|
|
162
|
-3.0%
|
-3.0%
|
-
|
Intl
|
|
101
|
|
108
|
-6.5%
|
-0.1%
|
-6.4%
|
|
|
203
|
|
222
|
-8.4%
|
-1.3%
|
-7.1%
|
WW
|
|
182
|
|
188
|
-3.4%
|
0.3%
|
-3.7%
|
|
|
361
|
|
384
|
-6.2%
|
-2.0%
|
-4.2%
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
62
|
|
53
|
16.1%
|
16.1%
|
-
|
|
|
128
|
|
129
|
-0.4%
|
-0.4%
|
-
|
Intl
|
|
340
|
|
384
|
-11.5%
|
-7.3%
|
-4.2%
|
|
|
719
|
|
802
|
-10.3%
|
-4.8%
|
-5.5%
|
WW
|
|
401
|
|
437
|
-8.1%
|
-4.4%
|
-3.7%
|
|
|
847
|
|
931
|
-8.9%
|
-4.1%
|
-4.8%
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,013
|
|
1,085
|
-6.6%
|
-6.6%
|
-
|
|
|
1,975
|
|
2,018
|
-2.1%
|
-2.1%
|
-
|
Intl
|
|
1,684
|
|
1,371
|
22.8%
|
30.5%
|
-7.7%
|
|
|
3,240
|
|
2,749
|
17.9%
|
26.3%
|
-8.4%
|
WW
|
|
2,697
|
|
2,456
|
9.8%
|
14.1%
|
-4.3%
|
|
|
5,215
|
|
4,767
|
9.4%
|
14.3%
|
-4.9%
|
DARZALEX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
369
|
|
298
|
24.4%
|
24.4%
|
-
|
|
|
721
|
|
562
|
28.5%
|
28.5%
|
-
|
Intl
|
|
405
|
|
213
|
89.5%
|
*
|
-13.6%
|
|
|
682
|
|
381
|
78.7%
|
93.0%
|
-14.3%
|
WW
|
|
774
|
|
511
|
51.6%
|
57.3%
|
-5.7%
|
|
|
1,403
|
|
943
|
48.8%
|
54.6%
|
-5.8%
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
367
|
|
250
|
47.0%
|
47.0%
|
-
|
|
|
716
|
|
477
|
50.2%
|
50.2%
|
-
|
Intl
|
|
463
|
|
370
|
25.3%
|
33.9%
|
-8.6%
|
|
|
898
|
|
730
|
23.1%
|
33.0%
|
-9.9%
|
WW
|
|
831
|
|
620
|
34.1%
|
39.2%
|
-5.1%
|
|
|
1,615
|
|
1,207
|
33.8%
|
39.8%
|
-6.0%
|
VELCADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
224
|
|
280
|
-20.1%
|
-16.1%
|
-4.0%
|
|
|
487
|
|
593
|
-17.9%
|
-12.9%
|
-5.0%
|
WW
|
|
224
|
|
280
|
-20.1%
|
-16.1%
|
-4.0%
|
|
|
487
|
|
593
|
-17.9%
|
-12.9%
|
-5.0%
|
ZYTIGA / abiraterone
acetate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
198
|
|
486
|
-59.4%
|
-59.4%
|
-
|
|
|
383
|
|
893
|
-57.1%
|
-57.1%
|
-
|
Intl
|
|
500
|
|
423
|
18.0%
|
24.5%
|
-6.5%
|
|
|
994
|
|
861
|
15.4%
|
22.6%
|
-7.2%
|
WW
|
|
698
|
|
909
|
-23.3%
|
-20.3%
|
-3.0%
|
|
|
1,377
|
|
1,754
|
-21.5%
|
-18.0%
|
-3.5%
|
OTHER
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
78
|
|
51
|
50.5%
|
50.5%
|
-
|
|
|
154
|
|
86
|
77.7%
|
77.7%
|
-
|
Intl
|
|
92
|
|
85
|
8.8%
|
16.2%
|
-7.4%
|
|
|
179
|
|
184
|
-2.5%
|
5.3%
|
-7.8%
|
WW
|
|
170
|
|
136
|
24.7%
|
29.3%
|
-4.6%
|
|
|
333
|
|
270
|
23.2%
|
28.6%
|
-5.4%
|
PULMONARY
HYPERTENSION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
439
|
|
429
|
2.2%
|
2.2%
|
-
|
|
|
869
|
|
790
|
10.0%
|
10.0%
|
-
|
Intl
|
|
251
|
|
236
|
6.7%
|
12.7%
|
-6.0%
|
|
|
477
|
|
460
|
3.7%
|
10.7%
|
-7.0%
|
WW
|
|
690
|
|
665
|
3.8%
|
6.0%
|
-2.2%
|
|
|
1,346
|
|
1,250
|
7.7%
|
10.2%
|
-2.5%
|
OPSUMIT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
203
|
|
180
|
12.8%
|
12.8%
|
-
|
|
|
375
|
|
329
|
14.2%
|
14.2%
|
-
|
Intl
|
|
146
|
|
131
|
11.5%
|
18.1%
|
-6.6%
|
|
|
279
|
|
253
|
10.3%
|
18.0%
|
-7.7%
|
WW
|
|
348
|
|
311
|
12.3%
|
15.0%
|
-2.7%
|
|
|
654
|
|
582
|
12.5%
|
15.8%
|
-3.3%
|
TRACLEER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
41
|
|
71
|
-41.8%
|
-41.8%
|
-
|
|
|
102
|
|
139
|
-26.3%
|
-26.3%
|
-
|
Intl
|
|
62
|
|
72
|
-14.5%
|
-10.9%
|
-3.6%
|
|
|
118
|
|
144
|
-18.7%
|
-14.6%
|
-4.1%
|
WW
|
|
103
|
|
143
|
-28.0%
|
-26.2%
|
-1.8%
|
|
|
220
|
|
283
|
-22.4%
|
-20.3%
|
-2.1%
|
UPTRAVI
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
175
|
|
155
|
13.4%
|
13.4%
|
-
|
|
|
351
|
|
279
|
25.9%
|
25.9%
|
-
|
Intl
|
|
28
|
|
16
|
62.5%
|
71.6%
|
-9.1%
|
|
|
50
|
|
32
|
53.1%
|
63.0%
|
-9.9%
|
WW
|
|
203
|
|
171
|
18.2%
|
19.1%
|
-0.9%
|
|
|
401
|
|
311
|
28.7%
|
29.7%
|
-1.0%
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
20
|
|
23
|
-18.2%
|
-18.2%
|
-
|
|
|
41
|
|
43
|
-8.4%
|
-8.4%
|
-
|
Intl
|
|
16
|
|
17
|
3.7%
|
13.3%
|
-9.6%
|
|
|
31
|
|
31
|
4.1%
|
15.1%
|
-11.0%
|
WW
|
|
37
|
|
40
|
-9.6%
|
-5.8%
|
-3.8%
|
|
|
72
|
|
74
|
-3.4%
|
1.0%
|
-4.4%
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
902
|
|
1,101
|
-18.1%
|
-18.1%
|
-
|
|
|
1,849
|
|
2,204
|
-16.1%
|
-16.1%
|
-
|
Intl
|
|
373
|
|
417
|
-10.5%
|
-5.7%
|
-4.8%
|
|
|
771
|
|
831
|
-7.2%
|
-1.5%
|
-5.7%
|
WW
|
|
1,275
|
|
1,518
|
-16.0%
|
-14.7%
|
-1.3%
|
|
|
2,620
|
|
3,035
|
-13.7%
|
-12.1%
|
-1.6%
|
XARELTO
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
549
|
|
679
|
-19.2%
|
-19.2%
|
-
|
|
|
1,091
|
|
1,257
|
-13.2%
|
-13.2%
|
-
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
WW
|
|
549
|
|
679
|
-19.2%
|
-19.2%
|
-
|
|
|
1,091
|
|
1,257
|
-13.2%
|
-13.2%
|
-
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
132
|
|
169
|
-21.2%
|
-21.2%
|
-
|
|
|
286
|
|
373
|
-23.2%
|
-23.2%
|
-
|
Intl
|
|
43
|
|
46
|
-6.0%
|
-1.5%
|
-4.5%
|
|
|
92
|
|
90
|
2.6%
|
8.9%
|
-6.3%
|
WW
|
|
177
|
|
215
|
-17.9%
|
-16.9%
|
-1.0%
|
|
|
379
|
|
463
|
-18.2%
|
-16.9%
|
-1.3%
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
113
|
|
156
|
-27.5%
|
-27.5%
|
-
|
|
|
261
|
|
345
|
-24.3%
|
-24.3%
|
-
|
Intl
|
|
70
|
|
80
|
-13.4%
|
-9.6%
|
-3.8%
|
|
|
148
|
|
167
|
-11.7%
|
-7.3%
|
-4.4%
|
WW
|
|
183
|
|
236
|
-22.7%
|
-21.4%
|
-1.3%
|
|
|
409
|
|
512
|
-20.2%
|
-18.7%
|
-1.5%
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
107
|
|
97
|
9.3%
|
9.3%
|
-
|
|
|
211
|
|
229
|
-8.2%
|
-8.2%
|
-
|
Intl
|
|
260
|
|
291
|
-10.5%
|
-5.2%
|
-5.3%
|
|
|
531
|
|
574
|
-7.5%
|
-1.4%
|
-6.1%
|
WW
|
|
368
|
|
388
|
-5.5%
|
-1.5%
|
-4.0%
|
|
|
742
|
|
803
|
-7.7%
|
-3.4%
|
-4.3%
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
5,783
|
|
5,899
|
-2.0%
|
-2.0%
|
-
|
|
|
11,365
|
|
11,253
|
1.0%
|
1.0%
|
-
|
Intl
|
|
4,746
|
|
4,455
|
6.5%
|
12.9%
|
-6.4%
|
|
|
9,408
|
|
8,945
|
5.2%
|
12.5%
|
-7.3%
|
WW
|
|
$
10,529
|
|
10,354
|
1.7%
|
4.4%
|
-2.7%
|
|
|
$
20,773
|
|
20,198
|
2.8%
|
6.1%
|
-3.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2019
|
|
2018
|
Reported
|
Operational
(1)
|
Currency
|
MEDICAL DEVICES
SEGMENT (2)(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIABETES
CARE(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
-
|
|
129
|
*
|
*
|
-
|
|
|
$
-
|
|
246
|
*
|
*
|
-
|
Intl
|
|
-
|
|
226
|
*
|
*
|
*
|
|
|
-
|
|
448
|
*
|
*
|
*
|
WW
|
|
-
|
|
355
|
*
|
*
|
*
|
|
|
-
|
|
694
|
*
|
*
|
*
|
INTERVENTIONAL
SOLUTIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
366
|
|
323
|
13.7%
|
13.7%
|
-
|
|
|
709
|
|
627
|
13.2%
|
13.2%
|
-
|
Intl
|
|
385
|
|
344
|
11.6%
|
17.3%
|
-5.7%
|
|
|
774
|
|
680
|
13.7%
|
20.0%
|
-6.3%
|
WW
|
|
750
|
|
667
|
12.6%
|
15.6%
|
-3.0%
|
|
|
1,482
|
|
1,307
|
13.4%
|
16.7%
|
-3.3%
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,331
|
|
1,332
|
-0.1%
|
-0.1%
|
-
|
|
|
2,649
|
|
2,639
|
0.4%
|
0.4%
|
-
|
Intl
|
|
894
|
|
930
|
-3.8%
|
1.5%
|
-5.3%
|
|
|
1,779
|
|
1,873
|
-5.0%
|
1.1%
|
-6.1%
|
WW
|
|
2,224
|
|
2,262
|
-1.6%
|
0.6%
|
-2.2%
|
|
|
4,428
|
|
4,512
|
-1.9%
|
0.7%
|
-2.6%
|
HIPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
216
|
|
211
|
2.1%
|
2.1%
|
-
|
|
|
429
|
|
420
|
2.1%
|
2.1%
|
-
|
Intl
|
|
147
|
|
149
|
-0.7%
|
5.0%
|
-5.7%
|
|
|
295
|
|
303
|
-2.3%
|
4.2%
|
-6.5%
|
WW
|
|
364
|
|
360
|
0.9%
|
3.3%
|
-2.4%
|
|
|
725
|
|
723
|
0.3%
|
3.0%
|
-2.7%
|
KNEES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
218
|
|
229
|
-4.8%
|
-4.8%
|
-
|
|
|
441
|
|
457
|
-3.5%
|
-3.5%
|
-
|
Intl
|
|
153
|
|
153
|
0.4%
|
5.4%
|
-5.0%
|
|
|
299
|
|
312
|
-4.0%
|
1.9%
|
-5.9%
|
WW
|
|
372
|
|
382
|
-2.8%
|
-0.7%
|
-2.1%
|
|
|
741
|
|
769
|
-3.7%
|
-1.3%
|
-2.4%
|
TRAUMA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
407
|
|
394
|
3.3%
|
3.3%
|
-
|
|
|
824
|
|
801
|
2.9%
|
2.9%
|
-
|
Intl
|
|
265
|
|
281
|
-5.9%
|
-0.6%
|
-5.3%
|
|
|
533
|
|
570
|
-6.5%
|
-0.5%
|
-6.0%
|
WW
|
|
672
|
|
675
|
-0.6%
|
1.7%
|
-2.3%
|
|
|
1,357
|
|
1,371
|
-1.0%
|
1.5%
|
-2.5%
|
SPINE &
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
490
|
|
498
|
-1.5%
|
-1.5%
|
-
|
|
|
955
|
|
961
|
-0.6%
|
-0.6%
|
-
|
Intl
|
|
328
|
|
347
|
-5.3%
|
0.0%
|
-5.3%
|
|
|
651
|
|
688
|
-5.4%
|
0.6%
|
-6.0%
|
WW
|
|
818
|
|
845
|
-3.1%
|
-0.9%
|
-2.2%
|
|
|
1,606
|
|
1,649
|
-2.6%
|
-0.1%
|
-2.5%
|
SURGERY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
926
|
|
1,022
|
-9.5%
|
-9.5%
|
-
|
|
|
1,927
|
|
2,015
|
-4.4%
|
-4.4%
|
-
|
Intl
|
|
1,427
|
|
1,493
|
-4.4%
|
1.5%
|
-5.9%
|
|
|
2,821
|
|
2,923
|
-3.5%
|
3.0%
|
-6.5%
|
WW
|
|
2,353
|
|
2,515
|
-6.5%
|
-3.0%
|
-3.5%
|
|
|
4,748
|
|
4,938
|
-3.9%
|
0.0%
|
-3.9%
|
ADVANCED
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
396
|
|
402
|
-1.7%
|
-1.7%
|
-
|
|
|
800
|
|
795
|
0.6%
|
0.6%
|
-
|
Intl
|
|
633
|
|
603
|
5.0%
|
11.2%
|
-6.2%
|
|
|
1,209
|
|
1,176
|
2.8%
|
9.5%
|
-6.7%
|
WW
|
|
1,029
|
|
1,005
|
2.3%
|
6.1%
|
-3.8%
|
|
|
2,009
|
|
1,971
|
1.9%
|
5.9%
|
-4.0%
|
GENERAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
443
|
|
436
|
1.6%
|
1.6%
|
-
|
|
|
868
|
|
859
|
1.0%
|
1.0%
|
-
|
Intl
|
|
674
|
|
733
|
-7.9%
|
-2.4%
|
-5.5%
|
|
|
1,339
|
|
1,437
|
-6.8%
|
-0.4%
|
-6.4%
|
WW
|
|
1,119
|
|
1,169
|
-4.3%
|
-0.9%
|
-3.4%
|
|
|
2,208
|
|
2,296
|
-3.9%
|
0.1%
|
-4.0%
|
SPECIALTY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
87
|
|
184
|
-53.1%
|
-53.1%
|
-
|
|
|
259
|
|
361
|
-28.3%
|
-28.3%
|
-
|
Intl
|
|
120
|
|
157
|
-23.7%
|
-18.2%
|
-5.5%
|
|
|
273
|
|
310
|
-12.1%
|
-5.4%
|
-6.7%
|
WW
|
|
206
|
|
341
|
-39.6%
|
-37.1%
|
-2.5%
|
|
|
531
|
|
671
|
-20.8%
|
-17.8%
|
-3.0%
|
VISION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
461
|
|
459
|
0.4%
|
0.4%
|
-
|
|
|
907
|
|
899
|
1.0%
|
1.0%
|
-
|
Intl
|
|
701
|
|
714
|
-2.0%
|
2.2%
|
-4.2%
|
|
|
1,383
|
|
1,389
|
-0.5%
|
4.7%
|
-5.2%
|
WW
|
|
1,161
|
|
1,173
|
-1.0%
|
1.5%
|
-2.5%
|
|
|
2,290
|
|
2,288
|
0.1%
|
3.2%
|
-3.1%
|
CONTACT LENSES /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
333
|
|
320
|
3.9%
|
3.9%
|
-
|
|
|
654
|
|
629
|
4.0%
|
4.0%
|
-
|
Intl
|
|
509
|
|
524
|
-2.9%
|
1.5%
|
-4.4%
|
|
|
1,011
|
|
1,022
|
-1.0%
|
4.4%
|
-5.4%
|
WW
|
|
842
|
|
844
|
-0.3%
|
2.4%
|
-2.7%
|
|
|
1,666
|
|
1,651
|
0.9%
|
4.2%
|
-3.3%
|
SURGICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
128
|
|
139
|
-7.7%
|
-7.7%
|
-
|
|
|
253
|
|
270
|
-6.1%
|
-6.1%
|
-
|
Intl
|
|
191
|
|
190
|
0.7%
|
4.2%
|
-3.5%
|
|
|
371
|
|
367
|
1.0%
|
5.5%
|
-4.5%
|
WW
|
|
319
|
|
329
|
-2.8%
|
-0.8%
|
-2.0%
|
|
|
624
|
|
637
|
-2.0%
|
0.6%
|
-2.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3,083
|
|
3,265
|
-5.6%
|
-5.6%
|
-
|
|
|
6,192
|
|
6,426
|
-3.6%
|
-3.6%
|
-
|
Intl
|
|
3,406
|
|
3,707
|
-8.1%
|
-2.9%
|
-5.2%
|
|
|
6,756
|
|
7,313
|
-7.6%
|
-1.6%
|
-6.0%
|
WW
|
|
$
6,489
|
|
6,972
|
-6.9%
|
-4.1%
|
-2.8%
|
|
|
$
12,948
|
|
13,739
|
-5.7%
|
-2.6%
|
-3.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note: Columns
and rows within tables may not add due to rounding. Percentages
have been calculated using actual, non-rounded
figures, and therefore, may not recalculate precisely.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Percentage greater
than 100% or not meaningful
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Operational
growth excludes the effect of translational currency
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Reported as U.S.
sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4) Prior year
amounts have been reclassified to conform to current year product
disclosure
|
|
|
|
|
|
|
|
|
|
|
(5) Reflects LifeScan
divestiture October 2, 2018
|
|
|
|
|
|
|
|
|
|
|
|
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2019-second-quarter-results-300885535.html
SOURCE Johnson & Johnson