NEW BRUNSWICK, N.J.,
July 16, 2020 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced results
for second-quarter 2020. "Our second quarter results reflect the
impact of COVID-19 and the enduring strength of our Pharmaceutical
business, where we saw continued growth even in this environment,"
said Alex Gorsky, Chairman and Chief
Executive Officer. "Thanks to the tireless work of our colleagues
around the world and our broad range of capabilities, we continue
to successfully navigate the external landscape, and we remain
focused on advancing the development of a vaccine to help address
this pandemic and save lives." Mr. Gorsky continued, "We are
bringing together our best minds, our global footprint and our
sophisticated supply chain technology to deliver on our commitment
to provide the vaccine on a not-for-profit basis for emergency
pandemic use, globally. We know the need is urgent, and every day
we commit to doing our part to find a solution for the global
good."
OVERALL FINANCIAL RESULTS:
|
|
|
SECOND
QUARTER
|
|
($ in Millions,
except EPS)
|
2020
|
2019
|
%
Change
|
Reported
Sales
|
$
18,336
|
$
20,562
|
(10.8)%
|
Net
Earnings
|
3,626
|
5,607
|
(35.3)%
|
EPS
(diluted)
|
$
1.36
|
$
2.08
|
(34.6)%
|
|
|
|
|
Non-GAAP*
|
SECOND
QUARTER
|
|
($ in Millions,
except EPS)
|
2020
|
2019
|
%
Change
|
Operational
Sales1,2
|
N/A
|
N/A
|
(9.0)%
|
Adjusted
Operational Sales1,3
|
N/A
|
N/A
|
(8.8)%
|
Adjusted Net
Earnings1,4
|
4,446
|
6,950
|
(36.0)%
|
Adjusted EPS
(diluted)1,4
|
$
1.67
|
$
2.58
|
(35.3)%
|
|
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
|
Adjusted
($ in Millions) 1
|
Adjusted
20202
|
Adjusted
20192
|
Adjusted
Reported2
|
Adjusted
Operational1,2
|
Adjusted
Currency2
|
Adjusted
Operational1,3
|
U.S.
|
$
9,539
|
$
10,403
|
(8.3)%
|
(8.3)
|
-
|
(8.1)
|
International
|
8,797
|
10,159
|
(13.4)%
|
(9.6)
|
(3.8)
|
(9.4)
|
Worldwide
|
$
18,336
|
$
20,562
|
(10.8)%
|
(9.0)
|
(1.8)
|
(8.8)
|
|
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
|
Adjusted
($ in Millions) 1
|
Adjusted
20201
|
Adjusted
20191
|
Adjusted
Reported2
|
Adjusted
Operational1,2
|
Adjusted
Currency1
|
Adjusted
Operational1,3
|
Consumer
Health
|
$
3,296
|
$
3,544
|
(7.0)%
|
(3.6)
|
(3.4)
|
(3.4)
|
Pharmaceutical
|
10,752
|
10,529
|
2.1%
|
3.9
|
(1.8)
|
3.9
|
Medical
Devices
|
4,288
|
6,489
|
(33.9)%
|
(32.7)
|
(1.2)
|
(32.5)
|
Worldwide
|
$
18,336
|
$
20,562
|
(10.8)%
|
(9.0)
|
(1.8)
|
(8.8)
|
|
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 Health
Consumer Health worldwide operational
sales, excluding the net impact of acquisitions and divestitures,
declined by 3.4%* as results were negatively impacted by the
COVID-19 pandemic most notably reflected in skin health and beauty
care products, followed by women's health care products and
international baby care products. Partially offsetting this
impact was growth in over-the-counter products including TYLENOL
analgesics; digestive health products and ZARBEE'S NATURALS; and
LISTERINE mouthwash in oral care products. Both
over-the-counter and oral care products were positively impacted by
COVID-19.
Pharmaceutical
Pharmaceutical worldwide operational
sales, excluding the net impact of acquisitions and divestitures,
grew 3.9%* driven by STELARA (ustekinumab), a biologic for the
treatment of a number of immune-mediated inflammatory diseases,
DARZALEX (daratumumab), for the treatment of multiple myeloma,
IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use
in treating certain B-cell malignancies, a type of blood or lymph
node cancer, ERLEADA (apalutamide), a next-generation androgen
receptor inhibitor for the treatment of patients with prostate
cancer, TREMFYA (guselkumab), a biologic for the treatment of
adults living with moderate to severe plaque psoriasis, UPTRAVI
(selexipag), an oral prostacyclin receptor agonist used to treat
pulmonary arterial hypertension and reduce hospitalization, INVEGA
SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate),
long-acting, injectable atypical antipsychotics for the treatment
of schizophrenia in adults, and OPSUMIT (macitentan), an oral
endothelin receptor antagonist indicated for the treatment of
pulmonary arterial hypertension to delay disease progression. This
growth was partially offset by the negative impact of COVID-19
as well as biosimilar and generic competition, with declines
primarily in REMICADE (infliximab), a biologic approved for the
treatment of a number of immune-mediated inflammatory diseases,
international VELCADE (bortezomib), a proteasome inhibitor for the
treatment of multiple myeloma, and ZYTIGA (abiraterone acetate), an
oral, once-daily medication for use in combination with prednisone
for the treatment of metastatic castration-resistant prostate
cancer.
Medical Devices
Medical Devices worldwide
operational sales, excluding the net impact of acquisitions and
divestitures, declined by 32.5%* primarily driven by the negative
impact of the COVID-19 pandemic and the associated deferral of
medical procedures to our Surgery, Orthopaedics, Vision and
Interventional Solutions businesses.
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.
Regulatory
Approvals
|
TREMFYA (guselkumab)
– U.S. Food and Drug Administration (FDA)
Approves for Adult Patients with Active Psoriatic Arthritis
(PsA)¹
|
(press
release)
|
ZABDENO (Ad26.ZEBOV) and
MVABEA (MVA-BN-Filo) – European
Commission Approves Janssen's Preventive Ebola Vaccine¹
|
(press
release)
|
DARZALEX
(daratumumab) – European Commission (EC) Grants Marketing
Authorisation for Subcutaneous Formulation for all Currently
Approved
Intravenous Formulation Indications
|
(press
release)
|
SIRTURO (bedaquiline)
– U.S. FDA Approves New Pediatric Formulation as
Part of Combination Therapy to Treat Children with Pulmonary
Multidrug-
Resistant Tuberculosis
|
(press
release)
|
DARZALEX FASPRO
(daratumumab and hyaluronidase-fihj) – U.S. FDA
Approves a new Subcutaneous Formulation of Daratumumab for the
Treatment
of Patients with Multiple Myeloma
|
(press
release)
|
IMBRUVICA (ibrutinib)
– U.S. FDA Approves IMBRUVICA Plus Rituximab for
Treatment of Patients with Chronic Lymphocytic Leukemia
(CLL)
|
(press
release)
|
Regulatory
Submissions
|
SIMPONI ARIA
(golimumab) – Submission to the U.S. Food and Drug
Administration (FDA) for the Treatment of Polyarticular Juvenile
Idiopathic
Arthritis and Juvenile Psoriatic Arthritis
|
(press
release)
|
Other
|
STELARA (ustekinumab)
Discontinuation of Phase 3 LOTUS Study in Systemic
Lupus Erythematosus
|
(press
release)
|
Johnson & Johnson
Announces Acceleration of its COVID-19 Vaccine
Candidate; Phase 1/2a Clinical Trial to Begin in Second Half of
July
|
(press
release)
|
Biosense Webster
Unveils Late-Breaking Results from PRECEPT Study in Patients
with Persistent Atrial Fibrillation
|
(press
release)
|
1 Subsequent to the
quarter
|
FULL-YEAR 2020 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.
The estimated impact of the COVID-19 pandemic is included in the
guidance below.
|
July 2020
|
April 2020
|
($ in Billions,
except EPS)
|
Adjusted Operational
Sales1,2
Change vs. Prior
Year
|
(0.8%) –
1.0%
|
(3.0%) -
0.5%
|
Operational
Sales2
Change vs. Prior
Year
|
$81.0 to
$82.5
(1.3%) –
0.5%
|
$79.2 to
$82.2
(3.5%) -
0.0%
|
Estimated Reported
Sales3
Change vs. Prior
Year
|
$79.9 to
$81.4
(2.6%) –
(0.8%)
|
$77.5 to $80.5
(5.5%) - (2.0%)
|
|
|
|
Adjusted Operational
EPS (Diluted)2,4
Change vs. Prior
Year
|
$7.85 to
$8.05
(9.6%) -
(7.3%)
|
$7.65 to
$8.05
(11.9%) - (7.3%)
|
Adjusted EPS
(Diluted)3,4
Change vs. Prior
Year
|
$7.75 -
$7.95
(10.7%) –
(8.4%)
|
$7.50 to $7.90
(13.6%) - (9.0%)
|
|
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 2020 = $1.12 Euro Average Rate: April 2020 = $1.09
(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 8:00 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: risks related to the impact of the
COVID-19 global pandemic, such as the scope and duration of the
outbreak, government actions and restrictive measures implemented
in response, material delays and cancellations of medical
procedures, supply chain disruptions and other impacts to the
business, or on the Company's ability to execute business
continuity plans, as a result of the COVID-19 pandemic, 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 29,
2019, 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
|
|
2020
|
|
2019
|
|
Total
|
|
Operations
|
|
Currency
|
|
2020
|
|
2019
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
9,539
|
|
10,403
|
|
(8.3)
|
%
|
(8.3)
|
|
-
|
|
$
20,238
|
|
20,532
|
|
(1.4)
|
%
|
(1.4)
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
4,063
|
|
4,733
|
|
(14.2)
|
|
(11.5)
|
|
(2.7)
|
|
8,890
|
|
9,342
|
|
(4.8)
|
|
(2.1)
|
|
(2.7)
|
Western Hemisphere
excluding U.S.
|
1,133
|
|
1,455
|
|
(22.1)
|
|
(8.9)
|
|
(13.2)
|
|
2,635
|
|
2,958
|
|
(10.9)
|
|
(0.1)
|
|
(10.8)
|
Asia-Pacific,
Africa
|
3,601
|
|
3,971
|
|
(9.3)
|
|
(7.7)
|
|
(1.6)
|
|
7,264
|
|
7,751
|
|
(6.3)
|
|
(4.9)
|
|
(1.4)
|
International
|
8,797
|
|
10,159
|
|
(13.4)
|
|
(9.6)
|
|
(3.8)
|
|
18,789
|
|
20,051
|
|
(6.3)
|
|
(2.9)
|
|
(3.4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
$
18,336
|
|
20,562
|
|
(10.8)
|
%
|
(9.0)
|
|
(1.8)
|
|
$
39,027
|
|
40,583
|
|
(3.8)
|
%
|
(2.2)
|
|
(1.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
2020
|
|
2019
|
|
Total
|
|
Operations
|
|
Currency
|
|
2020
|
|
2019
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
Health
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
1,557
|
|
1,537
|
|
1.3
|
%
|
1.3
|
|
-
|
|
$
3,297
|
|
2,975
|
|
10.8
|
%
|
10.8
|
|
-
|
International
|
1,739
|
|
2,007
|
|
(13.4)
|
|
(7.4)
|
|
(6.0)
|
|
3,624
|
|
3,887
|
|
(6.8)
|
|
(1.9)
|
|
(4.9)
|
|
3,296
|
|
3,544
|
|
(7.0)
|
|
(3.6)
|
|
(3.4)
|
|
6,921
|
|
6,862
|
|
0.9
|
|
3.6
|
|
(2.7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
6,120
|
|
5,783
|
|
5.8
|
|
5.8
|
|
-
|
|
12,181
|
|
11,365
|
|
7.2
|
|
7.2
|
|
-
|
International
|
4,632
|
|
4,746
|
|
(2.4)
|
|
1.4
|
|
(3.8)
|
|
9,705
|
|
9,408
|
|
3.2
|
|
6.7
|
|
(3.5)
|
|
10,752
|
|
10,529
|
|
2.1
|
|
3.9
|
|
(1.8)
|
|
21,886
|
|
20,773
|
|
5.4
|
|
7.0
|
|
(1.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
1,862
|
|
3,083
|
|
(39.6)
|
|
(39.6)
|
|
-
|
|
4,760
|
|
6,192
|
|
(23.1)
|
|
(23.1)
|
|
-
|
International
|
2,426
|
|
3,406
|
|
(28.8)
|
|
(26.4)
|
|
(2.4)
|
|
5,460
|
|
6,756
|
|
(19.2)
|
|
(16.8)
|
|
(2.4)
|
|
4,288
|
|
6,489
|
|
(33.9)
|
|
(32.7)
|
|
(1.2)
|
|
10,220
|
|
12,948
|
|
(21.1)
|
|
(19.8)
|
|
(1.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
9,539
|
|
10,403
|
|
(8.3)
|
|
(8.3)
|
|
-
|
|
20,238
|
|
20,532
|
|
(1.4)
|
|
(1.4)
|
|
-
|
International
|
8,797
|
|
10,159
|
|
(13.4)
|
|
(9.6)
|
|
(3.8)
|
|
18,789
|
|
20,051
|
|
(6.3)
|
|
(2.9)
|
|
(3.4)
|
Worldwide
|
$
18,336
|
|
20,562
|
|
(10.8)
|
%
|
(9.0)
|
|
(1.8)
|
|
$
39,027
|
|
40,583
|
|
(3.8)
|
%
|
(2.2)
|
|
(1.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
2019
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
18,336
|
|
100.0
|
|
$
20,562
|
|
100.0
|
|
(10.8)
|
Cost of products
sold
|
6,579
|
|
35.9
|
|
6,940
|
|
33.8
|
|
(5.2)
|
Gross
Profit
|
11,757
|
|
64.1
|
|
13,622
|
|
66.2
|
|
(13.7)
|
Selling, marketing
and administrative expenses
|
4,993
|
|
27.2
|
|
5,546
|
|
27.0
|
|
(10.0)
|
Research and
development expense
|
2,707
|
|
14.8
|
|
2,666
|
|
13.0
|
|
1.5
|
In-process
research and development
|
6
|
|
0.0
|
|
-
|
|
-
|
|
|
Interest (income)
expense, net
|
26
|
|
0.2
|
|
(5)
|
|
0.0
|
|
|
Other (income)
expense, net
|
24
|
|
0.1
|
|
(1,683)
|
|
(8.2)
|
|
|
Restructuring
|
61
|
|
0.3
|
|
57
|
|
0.2
|
|
|
Earnings before
provision for taxes on income
|
3,940
|
|
21.5
|
|
7,041
|
|
34.2
|
|
(44.0)
|
Provision for
taxes on income
|
314
|
|
1.7
|
|
1,434
|
|
6.9
|
|
(78.1)
|
Net
earnings
|
$
3,626
|
|
19.8
|
|
$
5,607
|
|
27.3
|
|
(35.3)
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
1.36
|
|
|
|
$
2.08
|
|
|
|
(34.6)
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,665.5
|
|
|
|
2,691.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
8.0
|
%
|
|
|
20.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
5,337
|
|
29.1
|
|
$
8,614
|
|
41.9
|
|
(38.0)
|
Net
earnings
|
$
4,446
|
|
24.2
|
|
$
6,950
|
|
33.8
|
|
(36.0)
|
Net earnings per
share (Diluted)
|
$
1.67
|
|
|
|
$
2.58
|
|
|
|
(35.3)
|
Effective tax
rate
|
16.7
|
%
|
|
|
19.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
2019
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
39,027
|
|
100.0
|
|
$
40,583
|
|
100.0
|
|
(3.8)
|
Cost of products
sold
|
13,641
|
|
35.0
|
|
13,555
|
|
33.4
|
|
0.6
|
Gross
Profit
|
25,386
|
|
65.0
|
|
27,028
|
|
66.6
|
|
(6.1)
|
Selling, marketing
and administrative expenses
|
10,196
|
|
26.1
|
|
10,765
|
|
26.5
|
|
(5.3)
|
Research and
development expense
|
5,287
|
|
13.5
|
|
5,524
|
|
13.6
|
|
(4.3)
|
In-process
research and development
|
6
|
|
0.0
|
|
890
|
|
2.2
|
|
|
Interest (income)
expense, net
|
(16)
|
|
0.0
|
|
(2)
|
|
0.0
|
|
|
Other (income)
expense, net
|
(655)
|
|
(1.7)
|
|
(1,705)
|
|
(4.2)
|
|
|
Restructuring
|
119
|
|
0.3
|
|
93
|
|
0.3
|
|
|
Earnings before
provision for taxes on income
|
10,449
|
|
26.8
|
|
11,463
|
|
28.2
|
|
(8.8)
|
Provision for
taxes on income
|
1,027
|
|
2.7
|
|
2,107
|
|
5.1
|
|
(51.3)
|
Net
earnings
|
$
9,422
|
|
24.1
|
|
$
9,356
|
|
23.1
|
|
0.7
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
3.53
|
|
|
|
$
3.47
|
|
|
|
1.7
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,671.0
|
|
|
|
2,697.0
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
9.8
|
%
|
|
|
18.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
12,581
|
|
32.2
|
|
$
15,481
|
|
38.1
|
|
(18.7)
|
Net
earnings
|
$
10,600
|
|
27.2
|
|
$
12,611
|
|
31.1
|
|
(15.9)
|
Net earnings per
share (Diluted)
|
$
3.97
|
|
|
|
$
4.68
|
|
|
|
(15.2)
|
Effective tax
rate
|
15.7
|
%
|
|
|
18.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second
Quarter
|
|
Six Months
Ended
|
|
(Dollars in Millions
Except Per Share Data)
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
Net Earnings, after
tax- as reported
|
$3,626
|
|
$5,607
|
|
$9,422
|
|
$9,356
|
|
|
|
|
|
|
|
|
|
|
Pre-tax
Adjustments
|
|
|
|
|
|
|
|
|
Intangible Asset
Amortization expense
|
1,127
|
|
1,118
|
|
2,245
|
|
2,248
|
|
Litigation expense,
net
|
613
|
|
409
|
|
733
|
|
832
|
|
IPR&D
|
6
|
|
-
|
|
6
|
|
890
|
|
Restructuring
related
|
115
|
|
142
|
|
233
|
|
232
|
|
Acquisition and
Integration related ¹
|
29
|
|
55
|
|
(933)
|
|
122
|
|
Unrealized
(gains)/losses on securities
|
(533)
|
|
(148)
|
|
(206)
|
|
(306)
|
|
Medical Device
Regulation 2
|
37
|
|
-
|
|
51
|
|
-
|
|
Other
|
3
|
|
(3)
|
|
3
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Tax
Adjustments
|
|
|
|
|
|
|
|
|
Tax impact on special
item adjustments 3
|
(253)
|
|
(230)
|
|
(520)
|
|
(763)
|
|
Tax legislation and
related impacts
|
(324)
|
|
-
|
|
(434)
|
|
-
|
|
Adjusted Net
Earnings, after tax
|
$4,446
|
|
$6,950
|
|
$10,600
|
|
$12,611
|
|
Average shares
outstanding (Diluted)
|
2,665.5
|
|
2,691.7
|
|
2,671.0
|
|
2,697.0
|
|
Adjusted net earnings
per share (Diluted)
|
$1.67
|
|
$2.58
|
|
$3.97
|
|
$4.68
|
|
Operational adjusted
net earnings per share (Diluted)
|
$1.69
|
|
|
|
$4.01
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes:
|
|
|
|
|
|
|
|
1
|
Acquisition and
integration related costs for the six months of 2020 primarily
includes a $983M Contingent
Consideration reversal related to the timing of certain
developmental milestones associated with the Auris
Health acquisition.
|
|
|
|
|
|
|
|
|
|
2
|
European Medical
Device Regulation (MDR) costs represent one-time compliance costs
for the Company's
previously registered products. MDR is a replacement of the
existing European Medical Devices Directive
regulatory framework, and manufacturers of currently marketed
medical devices are required to comply with
EU MDR beginning in May 2021. The Company considers the adoption of
EU MDR to be a significant one-
time regulatory change and is not indicative of on-going
operations. The Company has excluded only external
third-party regulatory and consulting costs from its Medical
Devices operating segments' measures of profit
and loss used for making operating decisions and assessing
performance.
|
|
|
|
|
|
|
|
|
|
3
|
The tax impact
related to special item adjustments reflects the current and
deferred income taxes associated
with the above pre-tax special items in arriving at adjusted
earnings.
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted
Operational Sales Growth
|
SECOND
QUARTER 2020 ACTUAL vs. 2019 ACTUAL
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
Health
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
|
|
|
|
|
|
|
WW As
Reported
|
|
(7.0)%
|
|
2.1%
|
|
(33.9)%
|
|
(10.8)%
|
U.S.
|
|
1.3%
|
|
5.8%
|
|
(39.6)%
|
|
(8.3)%
|
International
|
|
(13.4)%
|
|
(2.4)%
|
|
(28.8)%
|
|
(13.4)%
|
|
|
|
|
|
|
|
|
|
WW
Currency
|
|
(3.4)
|
|
(1.8)
|
|
(1.2)
|
|
(1.8)
|
U.S.
|
|
-
|
|
-
|
|
-
|
|
-
|
International
|
|
(6.0)
|
|
(3.8)
|
|
(2.4)
|
|
(3.8)
|
|
|
|
|
|
|
|
|
|
WW
Operational
|
|
(3.6)%
|
|
3.9%
|
|
(32.7)%
|
|
(9.0)%
|
U.S.
|
|
1.3%
|
|
5.8%
|
|
(39.6)%
|
|
(8.3)%
|
International
|
|
(7.4)%
|
|
1.4%
|
|
(26.4)%
|
|
(9.6)%
|
|
|
|
|
|
|
|
|
|
General
Surgery
|
|
|
|
|
|
|
|
|
Advanced
Sterilization Products
|
|
|
|
|
|
0.1
|
|
0.1
|
U.S.
|
|
|
|
|
|
0.0
|
|
0.0
|
International
|
|
|
|
|
|
0.3
|
|
0.2
|
|
|
|
|
|
|
|
|
|
Baby
Care
|
|
|
|
|
|
|
|
|
Baby
Center
|
|
0.3
|
|
|
|
|
|
0.0
|
U.S.
|
|
0.7
|
|
|
|
|
|
0.1
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.0
|
|
0.0
|
|
0.1
|
|
0.1
|
U.S.
|
|
0.0
|
|
0.0
|
|
0.1
|
|
0.0
|
International
|
|
(0.1)
|
|
0.1
|
|
0.0
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Adjusted
Operational
|
|
(3.4)%
|
|
3.9%
|
|
(32.5)%
|
|
(8.8)%
|
U.S.
|
|
2.0%
|
|
5.8%
|
|
(39.5)%
|
|
(8.1)%
|
International
|
|
(7.5)%
|
|
1.5%
|
|
(26.1)%
|
|
(9.4)%
|
|
|
|
|
|
|
|
|
|
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
2020 ACTUAL vs. 2019 ACTUAL
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
Health
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
|
|
|
|
|
|
|
WW As
Reported
|
|
0.9%
|
|
5.4%
|
|
(21.1)%
|
|
(3.8)%
|
U.S.
|
|
10.8%
|
|
7.2%
|
|
(23.1)%
|
|
(1.4)%
|
International
|
|
(6.8)%
|
|
3.2%
|
|
(19.2)%
|
|
(6.3)%
|
|
|
|
|
|
|
|
|
|
WW
Currency
|
|
(2.7)
|
|
(1.6)
|
|
(1.3)
|
|
(1.6)
|
U.S.
|
|
-
|
|
-
|
|
-
|
|
-
|
International
|
|
(4.9)
|
|
(3.5)
|
|
(2.4)
|
|
(3.4)
|
|
|
|
|
|
|
|
|
|
WW
Operational
|
|
3.6%
|
|
7.0%
|
|
(19.8)%
|
|
(2.2)%
|
U.S.
|
|
10.8%
|
|
7.2%
|
|
(23.1)%
|
|
(1.4)%
|
International
|
|
(1.9)%
|
|
6.7%
|
|
(16.8)%
|
|
(2.9)%
|
|
|
|
|
|
|
|
|
|
Skin Health /
Beauty
|
|
|
|
|
|
|
|
|
Dr. Ci Labo -
Japan
|
|
(0.2)
|
|
|
|
|
|
0.0
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
(0.4)
|
|
|
|
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
General
Surgery
|
|
|
|
|
|
|
|
|
Advanced
Sterilization Products
|
|
|
|
|
|
1.0
|
|
0.4
|
U.S.
|
|
|
|
|
|
1.1
|
|
0.4
|
International
|
|
|
|
|
|
0.9
|
|
0.4
|
|
|
|
|
|
|
|
|
|
Baby
Care
|
|
|
|
|
|
|
|
|
Baby
Center
|
|
0.3
|
|
|
|
|
|
0.0
|
U.S.
|
|
0.7
|
|
|
|
|
|
0.1
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
(0.1)
|
|
0.1
|
|
0.0
|
|
0.0
|
U.S.
|
|
0.0
|
|
0.1
|
|
0.0
|
|
0.1
|
International
|
|
(0.2)
|
|
0.0
|
|
0.0
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Adjusted
Operational
|
|
3.6%
|
|
7.0%
|
|
(18.8)%
|
|
(1.7)%
|
U.S.
|
|
11.5%
|
|
7.2%
|
|
(22.0)%
|
|
(0.8)%
|
International
|
|
(2.5)%
|
|
6.7%
|
|
(15.9)%
|
|
(2.6)%
|
|
|
|
|
|
|
|
|
|
Note:
Percentages are based on actual, non-rounded figures and may not
sum
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
SIX
MONTHS
|
|
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
|
%
Change
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
CONSUMER HEALTH
SEGMENT (2,3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
96
|
|
99
|
-3.5%
|
-3.5%
|
-
|
|
|
|
|
$
188
|
|
186
|
1.2%
|
1.2%
|
-
|
Intl
|
|
260
|
|
344
|
-24.3%
|
-16.6%
|
-7.7%
|
|
|
|
|
529
|
|
651
|
-18.7%
|
-12.6%
|
-6.1%
|
WW
|
|
356
|
|
443
|
-19.7%
|
-13.6%
|
-6.1%
|
|
|
|
|
717
|
|
837
|
-14.3%
|
-9.5%
|
-4.8%
|
ORAL CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
170
|
|
155
|
9.7%
|
9.7%
|
-
|
|
|
|
|
346
|
|
306
|
12.9%
|
12.9%
|
-
|
Intl
|
|
227
|
|
234
|
-2.8%
|
4.0%
|
-6.8%
|
|
|
|
|
446
|
|
450
|
-0.8%
|
4.6%
|
-5.4%
|
WW
|
|
397
|
|
389
|
2.2%
|
6.3%
|
-4.1%
|
|
|
|
|
792
|
|
756
|
4.8%
|
8.0%
|
-3.2%
|
OTC
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
627
|
|
484
|
29.6%
|
29.6%
|
-
|
|
|
|
|
1,316
|
|
991
|
32.8%
|
32.8%
|
-
|
Intl
|
|
522
|
|
580
|
-10.1%
|
-5.0%
|
-5.1%
|
|
|
|
|
1,181
|
|
1,160
|
1.8%
|
6.0%
|
-4.2%
|
WW
|
|
1,149
|
|
1,064
|
7.9%
|
10.7%
|
-2.8%
|
|
|
|
|
2,497
|
|
2,151
|
16.1%
|
18.3%
|
-2.2%
|
SKIN HEALTH /
BEAUTY(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
536
|
|
663
|
-19.2%
|
-19.2%
|
-
|
|
|
|
|
1,195
|
|
1,251
|
-4.5%
|
-4.5%
|
-
|
Intl
|
|
471
|
|
539
|
-12.5%
|
-8.2%
|
-4.3%
|
|
|
|
|
929
|
|
1,041
|
-10.7%
|
-7.4%
|
-3.3%
|
WW
|
|
1,007
|
|
1,202
|
-16.2%
|
-14.3%
|
-1.9%
|
|
|
|
|
2,124
|
|
2,292
|
-7.3%
|
-5.8%
|
-1.5%
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3
|
|
3
|
-2.9%
|
-2.9%
|
-
|
|
|
|
|
7
|
|
6
|
14.3%
|
14.3%
|
-
|
Intl
|
|
199
|
|
250
|
-20.4%
|
-12.0%
|
-8.4%
|
|
|
|
|
427
|
|
472
|
-9.6%
|
-2.1%
|
-7.5%
|
WW
|
|
202
|
|
253
|
-20.1%
|
-11.8%
|
-8.3%
|
|
|
|
|
434
|
|
478
|
-9.3%
|
-1.9%
|
-7.4%
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
126
|
|
132
|
-4.7%
|
-4.7%
|
-
|
|
|
|
|
245
|
|
234
|
4.7%
|
4.7%
|
-
|
Intl
|
|
59
|
|
61
|
-2.4%
|
3.7%
|
-6.1%
|
|
|
|
|
111
|
|
114
|
-1.9%
|
2.8%
|
-4.7%
|
WW
|
|
185
|
|
193
|
-4.0%
|
-2.1%
|
-1.9%
|
|
|
|
|
356
|
|
348
|
2.6%
|
4.1%
|
-1.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CONSUMER
HEALTH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,557
|
|
1,537
|
1.3%
|
1.3%
|
-
|
|
|
|
|
3,297
|
|
2,975
|
10.8%
|
10.8%
|
-
|
Intl
|
|
1,739
|
|
2,007
|
-13.4%
|
-7.4%
|
-6.0%
|
|
|
|
|
3,624
|
|
3,887
|
-6.8%
|
-1.9%
|
-4.9%
|
WW
|
|
$
3,296
|
|
3,544
|
-7.0%
|
-3.6%
|
-3.4%
|
|
|
|
|
$
6,921
|
|
6,862
|
0.9%
|
3.6%
|
-2.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
SECOND
QUARTER
|
SIX
MONTHS
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
|
%
Change
|
|
PHARMACEUTICAL
SEGMENT (2,5)
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
2,362
|
|
2,379
|
-0.7%
|
-0.7%
|
-
|
|
|
|
|
$
4,772
|
|
4,542
|
5.1%
|
5.1%
|
-
|
Intl
|
|
1,161
|
|
1,087
|
6.8%
|
11.0%
|
-4.2%
|
|
|
|
|
2,389
|
|
2,175
|
9.8%
|
13.7%
|
-3.9%
|
WW
|
|
3,523
|
|
3,466
|
1.6%
|
3.0%
|
-1.4%
|
|
|
|
|
7,161
|
|
6,717
|
6.6%
|
7.9%
|
-1.3%
|
REMICADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
593
|
|
801
|
-25.8%
|
-25.8%
|
-
|
|
|
|
|
1,218
|
|
1,575
|
-22.7%
|
-22.7%
|
-
|
US Exports
(6)
|
|
133
|
|
62
|
*
|
*
|
-
|
|
|
|
|
243
|
|
138
|
75.7%
|
75.7%
|
-
|
Intl
|
|
208
|
|
244
|
-14.5%
|
-8.7%
|
-5.8%
|
|
|
|
|
464
|
|
496
|
-6.4%
|
-1.6%
|
-4.8%
|
WW
|
|
935
|
|
1,107
|
-15.5%
|
-14.2%
|
-1.3%
|
|
|
|
|
1,925
|
|
2,209
|
-12.9%
|
-11.8%
|
-1.1%
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
256
|
|
281
|
-8.7%
|
-8.7%
|
-
|
|
|
|
|
528
|
|
544
|
-2.9%
|
-2.9%
|
-
|
Intl
|
|
289
|
|
282
|
2.6%
|
6.8%
|
-4.2%
|
|
|
|
|
547
|
|
543
|
0.8%
|
4.8%
|
-4.0%
|
WW
|
|
546
|
|
563
|
-3.0%
|
-0.9%
|
-2.1%
|
|
|
|
|
1,075
|
|
1,087
|
-1.1%
|
1.0%
|
-2.1%
|
STELARA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,138
|
|
1,058
|
7.5%
|
7.5%
|
-
|
|
|
|
|
2,355
|
|
1,940
|
21.4%
|
21.4%
|
-
|
Intl
|
|
558
|
|
499
|
11.9%
|
15.5%
|
-3.6%
|
|
|
|
|
1,161
|
|
1,022
|
13.6%
|
16.9%
|
-3.3%
|
WW
|
|
1,697
|
|
1,558
|
8.9%
|
10.1%
|
-1.2%
|
|
|
|
|
3,516
|
|
2,963
|
18.7%
|
19.8%
|
-1.1%
|
TREMFYA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
241
|
|
176
|
36.7%
|
36.7%
|
-
|
|
|
|
|
428
|
|
344
|
24.4%
|
24.4%
|
-
|
Intl
|
|
101
|
|
59
|
71.0%
|
73.4%
|
-2.4%
|
|
|
|
|
210
|
|
108
|
94.0%
|
97.1%
|
-3.1%
|
WW
|
|
342
|
|
235
|
45.4%
|
46.0%
|
-0.6%
|
|
|
|
|
638
|
|
452
|
41.1%
|
41.8%
|
-0.7%
|
OTHER
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
3
|
|
3
|
11.8%
|
21.6%
|
-9.8%
|
|
|
|
|
6
|
|
6
|
2.7%
|
8.4%
|
-5.7%
|
WW
|
|
3
|
|
3
|
11.8%
|
21.6%
|
-9.8%
|
|
|
|
|
6
|
|
6
|
2.7%
|
8.4%
|
-5.7%
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
416
|
|
387
|
7.4%
|
7.4%
|
-
|
|
|
|
|
852
|
|
744
|
14.5%
|
14.5%
|
-
|
Intl
|
|
463
|
|
475
|
-2.5%
|
2.6%
|
-5.1%
|
|
|
|
|
946
|
|
964
|
-1.8%
|
2.7%
|
-4.5%
|
WW
|
|
878
|
|
862
|
1.9%
|
4.7%
|
-2.8%
|
|
|
|
|
1,798
|
|
1,708
|
5.3%
|
7.8%
|
-2.5%
|
EDURANT /
rilpivirine
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
10
|
|
12
|
-14.0%
|
-14.0%
|
-
|
|
|
|
|
22
|
|
24
|
-6.9%
|
-6.9%
|
-
|
Intl
|
|
246
|
|
198
|
24.5%
|
27.7%
|
-3.2%
|
|
|
|
|
458
|
|
397
|
15.4%
|
18.4%
|
-3.0%
|
WW
|
|
256
|
|
210
|
22.2%
|
25.2%
|
-3.0%
|
|
|
|
|
480
|
|
421
|
14.1%
|
17.0%
|
-2.9%
|
PREZISTA / PREZCOBIX
/ REZOLSTA / SYMTUZA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
379
|
|
344
|
10.5%
|
10.5%
|
-
|
|
|
|
|
775
|
|
659
|
17.7%
|
17.7%
|
-
|
Intl
|
|
130
|
|
191
|
-32.0%
|
-26.1%
|
-5.9%
|
|
|
|
|
314
|
|
399
|
-21.4%
|
-15.8%
|
-5.6%
|
WW
|
|
510
|
|
535
|
-4.7%
|
-2.6%
|
-2.1%
|
|
|
|
|
1,089
|
|
1,058
|
2.9%
|
5.0%
|
-2.1%
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
25
|
|
31
|
-18.7%
|
-18.7%
|
-
|
|
|
|
|
54
|
|
61
|
-11.2%
|
-11.2%
|
-
|
Intl
|
|
87
|
|
86
|
1.0%
|
8.7%
|
-7.7%
|
|
|
|
|
174
|
|
168
|
3.8%
|
9.4%
|
-5.6%
|
WW
|
|
113
|
|
117
|
-4.2%
|
1.5%
|
-5.7%
|
|
|
|
|
229
|
|
229
|
-0.2%
|
3.9%
|
-4.1%
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
|
%
Change
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
778
|
|
664
|
17.4%
|
17.4%
|
-
|
|
|
|
|
1,526
|
|
1,387
|
10.1%
|
10.1%
|
-
|
Intl
|
|
809
|
|
875
|
-7.6%
|
-4.1%
|
-3.5%
|
|
|
|
|
1,719
|
|
1,780
|
-3.5%
|
-0.5%
|
-3.0%
|
WW
|
|
1,587
|
|
1,538
|
3.2%
|
5.2%
|
-2.0%
|
|
|
|
|
3,245
|
|
3,167
|
2.5%
|
4.1%
|
-1.6%
|
CONCERTA /
Methylphenidate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
55
|
|
15
|
*
|
*
|
-
|
|
|
|
|
107
|
|
112
|
-4.2%
|
-4.2%
|
-
|
Intl
|
|
94
|
|
123
|
-23.0%
|
-20.2%
|
-2.8%
|
|
|
|
|
212
|
|
239
|
-11.0%
|
-8.6%
|
-2.4%
|
WW
|
|
149
|
|
137
|
8.7%
|
11.2%
|
-2.5%
|
|
|
|
|
320
|
|
351
|
-8.9%
|
-7.2%
|
-1.7%
|
INVEGA SUSTENNA /
XEPLION /
INVEGA TRINZA / TREVICTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
576
|
|
506
|
13.8%
|
13.8%
|
-
|
|
|
|
|
1,120
|
|
989
|
13.2%
|
13.2%
|
-
|
Intl
|
|
303
|
|
312
|
-2.8%
|
0.3%
|
-3.1%
|
|
|
|
|
642
|
|
619
|
3.7%
|
6.7%
|
-3.0%
|
WW
|
|
879
|
|
818
|
7.5%
|
8.6%
|
-1.1%
|
|
|
|
|
1,762
|
|
1,608
|
9.5%
|
10.7%
|
-1.2%
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
74
|
|
81
|
-9.3%
|
-9.3%
|
-
|
|
|
|
|
150
|
|
158
|
-4.9%
|
-4.9%
|
-
|
Intl
|
|
79
|
|
101
|
-21.2%
|
-18.1%
|
-3.1%
|
|
|
|
|
173
|
|
203
|
-14.9%
|
-11.9%
|
-3.0%
|
WW
|
|
153
|
|
182
|
-15.9%
|
-14.2%
|
-1.7%
|
|
|
|
|
323
|
|
361
|
-10.5%
|
-8.9%
|
-1.6%
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
75
|
|
62
|
21.5%
|
21.5%
|
-
|
|
|
|
|
150
|
|
128
|
16.8%
|
16.8%
|
-
|
Intl
|
|
331
|
|
340
|
-2.5%
|
1.7%
|
-4.2%
|
|
|
|
|
691
|
|
719
|
-3.9%
|
-0.8%
|
-3.1%
|
WW
|
|
406
|
|
401
|
1.2%
|
4.7%
|
-3.5%
|
|
|
|
|
841
|
|
847
|
-0.7%
|
1.8%
|
-2.5%
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,181
|
|
1,013
|
16.6%
|
16.6%
|
-
|
|
|
|
|
2,356
|
|
1,975
|
19.3%
|
19.3%
|
-
|
Intl
|
|
1,609
|
|
1,684
|
-4.4%
|
-0.9%
|
-3.5%
|
|
|
|
|
3,448
|
|
3,240
|
6.4%
|
9.9%
|
-3.5%
|
WW
|
|
2,791
|
|
2,697
|
3.5%
|
5.7%
|
-2.2%
|
|
|
|
|
5,804
|
|
5,215
|
11.3%
|
13.5%
|
-2.2%
|
DARZALEX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
492
|
|
369
|
32.9%
|
32.9%
|
-
|
|
|
|
|
955
|
|
721
|
32.3%
|
32.3%
|
-
|
Intl
|
|
409
|
|
405
|
1.2%
|
5.9%
|
-4.7%
|
|
|
|
|
883
|
|
682
|
29.6%
|
34.7%
|
-5.1%
|
WW
|
|
901
|
|
774
|
16.3%
|
18.8%
|
-2.5%
|
|
|
|
|
1,838
|
|
1,403
|
31.0%
|
33.5%
|
-2.5%
|
ERLEADA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
136
|
|
62
|
*
|
*
|
-
|
|
|
|
|
255
|
|
120
|
*
|
*
|
-
|
Intl
|
|
33
|
|
7
|
*
|
*
|
*
|
|
|
|
|
57
|
|
10
|
*
|
*
|
*
|
WW
|
|
170
|
|
69
|
*
|
*
|
*
|
|
|
|
|
313
|
|
130
|
*
|
*
|
*
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
447
|
|
367
|
21.5%
|
21.5%
|
-
|
|
|
|
|
879
|
|
716
|
22.6%
|
22.6%
|
-
|
Intl
|
|
502
|
|
463
|
8.3%
|
13.4%
|
-5.1%
|
|
|
|
|
1,101
|
|
898
|
22.6%
|
27.4%
|
-4.8%
|
WW
|
|
949
|
|
831
|
14.1%
|
17.0%
|
-2.9%
|
|
|
|
|
1,980
|
|
1,615
|
22.6%
|
25.3%
|
-2.7%
|
VELCADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
98
|
|
224
|
-56.1%
|
-55.2%
|
-0.9%
|
|
|
|
|
206
|
|
487
|
-57.7%
|
-56.9%
|
-0.8%
|
WW
|
|
98
|
|
224
|
-56.1%
|
-55.2%
|
-0.9%
|
|
|
|
|
206
|
|
487
|
-57.7%
|
-56.9%
|
-0.8%
|
ZYTIGA / abiraterone
acetate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
87
|
|
198
|
-55.6%
|
-55.6%
|
-
|
|
|
|
|
226
|
|
383
|
-40.9%
|
-40.9%
|
-
|
Intl
|
|
480
|
|
500
|
-3.9%
|
-2.0%
|
-1.9%
|
|
|
|
|
1,032
|
|
994
|
3.8%
|
6.1%
|
-2.3%
|
WW
|
|
568
|
|
698
|
-18.6%
|
-17.2%
|
-1.4%
|
|
|
|
|
1,258
|
|
1,377
|
-8.6%
|
-7.0%
|
-1.6%
|
OTHER
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
20
|
|
16
|
22.9%
|
22.9%
|
-
|
|
|
|
|
42
|
|
34
|
21.4%
|
21.4%
|
-
|
Intl
|
|
87
|
|
85
|
2.2%
|
5.9%
|
-3.7%
|
|
|
|
|
169
|
|
169
|
-0.3%
|
3.3%
|
-3.6%
|
WW
|
|
106
|
|
101
|
5.5%
|
8.6%
|
-3.1%
|
|
|
|
|
210
|
|
203
|
3.4%
|
6.3%
|
-2.9%
|
PULMONARY
HYPERTENSION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
545
|
|
439
|
24.2%
|
24.2%
|
-
|
|
|
|
|
1,031
|
|
869
|
18.7%
|
18.7%
|
-
|
Intl
|
|
243
|
|
251
|
-3.3%
|
-1.0%
|
-2.3%
|
|
|
|
|
503
|
|
477
|
5.3%
|
7.9%
|
-2.6%
|
WW
|
|
789
|
|
690
|
14.2%
|
15.0%
|
-0.8%
|
|
|
|
|
1,534
|
|
1,346
|
13.9%
|
14.9%
|
-1.0%
|
OPSUMIT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
256
|
|
203
|
26.1%
|
26.1%
|
-
|
|
|
|
|
485
|
|
375
|
29.3%
|
29.3%
|
-
|
Intl
|
|
150
|
|
146
|
3.0%
|
5.7%
|
-2.7%
|
|
|
|
|
310
|
|
279
|
11.2%
|
14.1%
|
-2.9%
|
WW
|
|
406
|
|
348
|
16.5%
|
17.6%
|
-1.1%
|
|
|
|
|
795
|
|
654
|
21.6%
|
22.8%
|
-1.2%
|
UPTRAVI
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
254
|
|
175
|
44.5%
|
44.5%
|
-
|
|
|
|
|
466
|
|
351
|
32.6%
|
32.6%
|
-
|
Intl
|
|
28
|
|
28
|
4.0%
|
7.3%
|
-3.3%
|
|
|
|
|
66
|
|
50
|
33.6%
|
37.6%
|
-4.0%
|
WW
|
|
282
|
|
203
|
39.0%
|
39.5%
|
-0.5%
|
|
|
|
|
532
|
|
401
|
32.7%
|
33.2%
|
-0.5%
|
OTHER PULMONARY
HYPERTENSION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
37
|
|
61
|
-40.2%
|
-40.2%
|
-
|
|
|
|
|
81
|
|
143
|
-43.5%
|
-43.5%
|
-
|
Intl
|
|
64
|
|
78
|
-17.6%
|
-16.4%
|
-1.2%
|
|
|
|
|
126
|
|
149
|
-15.1%
|
-13.7%
|
-1.4%
|
WW
|
|
101
|
|
140
|
-27.5%
|
-26.9%
|
-0.6%
|
|
|
|
|
207
|
|
292
|
-29.0%
|
-28.3%
|
-0.7%
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
837
|
|
902
|
-7.2%
|
-7.2%
|
-
|
|
|
|
|
1,643
|
|
1,849
|
-11.1%
|
-11.1%
|
-
|
Intl
|
|
347
|
|
373
|
-7.0%
|
-2.4%
|
-4.6%
|
|
|
|
|
701
|
|
771
|
-9.1%
|
-5.6%
|
-3.5%
|
WW
|
|
1,184
|
|
1,275
|
-7.1%
|
-5.8%
|
-1.3%
|
|
|
|
|
2,344
|
|
2,620
|
-10.5%
|
-9.5%
|
-1.0%
|
XARELTO
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
559
|
|
549
|
1.7%
|
1.7%
|
-
|
|
|
|
|
1,086
|
|
1,091
|
-0.5%
|
-0.5%
|
-
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
|
|
-
|
|
-
|
-
|
-
|
-
|
WW
|
|
559
|
|
549
|
1.7%
|
1.7%
|
-
|
|
|
|
|
1,086
|
|
1,091
|
-0.5%
|
-0.5%
|
-
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
132
|
|
132
|
-0.8%
|
-0.8%
|
-
|
|
|
|
|
249
|
|
286
|
-13.0%
|
-13.0%
|
-
|
Intl
|
|
47
|
|
43
|
9.1%
|
14.8%
|
-5.7%
|
|
|
|
|
105
|
|
92
|
14.1%
|
18.1%
|
-4.0%
|
WW
|
|
179
|
|
177
|
1.6%
|
3.1%
|
-1.5%
|
|
|
|
|
354
|
|
379
|
-6.4%
|
-5.5%
|
-0.9%
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
70
|
|
113
|
-38.3%
|
-38.3%
|
-
|
|
|
|
|
146
|
|
261
|
-44.1%
|
-44.1%
|
-
|
Intl
|
|
66
|
|
70
|
-5.0%
|
-2.3%
|
-2.7%
|
|
|
|
|
145
|
|
148
|
-2.2%
|
-0.1%
|
-2.1%
|
WW
|
|
136
|
|
183
|
-25.6%
|
-24.6%
|
-1.0%
|
|
|
|
|
291
|
|
409
|
-28.9%
|
-28.2%
|
-0.7%
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
78
|
|
107
|
-27.7%
|
-27.7%
|
-
|
|
|
|
|
163
|
|
211
|
-22.9%
|
-22.9%
|
-
|
Intl
|
|
234
|
|
260
|
-10.2%
|
-5.3%
|
-4.9%
|
|
|
|
|
451
|
|
531
|
-15.0%
|
-11.3%
|
-3.7%
|
WW
|
|
312
|
|
368
|
-15.3%
|
-11.8%
|
-3.5%
|
|
|
|
|
614
|
|
742
|
-17.3%
|
-14.6%
|
-2.7%
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
6,120
|
|
5,783
|
5.8%
|
5.8%
|
-
|
|
|
|
|
12,181
|
|
11,365
|
7.2%
|
7.2%
|
-
|
Intl
|
|
4,632
|
|
4,746
|
-2.4%
|
1.4%
|
-3.8%
|
|
|
|
|
9,705
|
|
9,408
|
3.2%
|
6.7%
|
-3.5%
|
WW
|
|
$
10,752
|
|
10,529
|
2.1%
|
3.9%
|
-1.8%
|
|
|
|
|
$
21,886
|
|
20,773
|
5.4%
|
7.0%
|
-1.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
SECOND
QUARTER
|
|
SIX
MONTHS
|
|
|
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
|
%
Change
|
MEDICAL DEVICES
SEGMENT (2,5)
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
|
2020
|
|
2019
|
Reported
|
Operational
(1)
|
Currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERVENTIONAL
SOLUTIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
255
|
|
366
|
-30.5%
|
-30.5%
|
-
|
|
|
|
|
620
|
|
709
|
-12.6%
|
-12.6%
|
-
|
Intl
|
|
335
|
|
385
|
-12.8%
|
-10.9%
|
-1.9%
|
|
|
|
|
697
|
|
774
|
-9.9%
|
-8.0%
|
-1.9%
|
WW
|
|
590
|
|
750
|
-21.5%
|
-20.5%
|
-1.0%
|
|
|
|
|
1,317
|
|
1,482
|
-11.2%
|
-10.2%
|
-1.0%
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
869
|
|
1,331
|
-34.7%
|
-34.7%
|
-
|
|
|
|
|
2,119
|
|
2,649
|
-20.0%
|
-20.0%
|
-
|
Intl
|
|
583
|
|
894
|
-34.8%
|
-32.6%
|
-2.2%
|
|
|
|
|
1,371
|
|
1,779
|
-22.9%
|
-20.6%
|
-2.3%
|
WW
|
|
1,451
|
|
2,224
|
-34.7%
|
-33.9%
|
-0.8%
|
|
|
|
|
3,489
|
|
4,428
|
-21.2%
|
-20.3%
|
-0.9%
|
HIPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
137
|
|
216
|
-36.5%
|
-36.5%
|
-
|
|
|
|
|
343
|
|
429
|
-20.1%
|
-20.1%
|
-
|
Intl
|
|
88
|
|
147
|
-39.8%
|
-37.3%
|
-2.5%
|
|
|
|
|
220
|
|
295
|
-25.4%
|
-22.8%
|
-2.6%
|
WW
|
|
226
|
|
364
|
-37.8%
|
-36.8%
|
-1.0%
|
|
|
|
|
563
|
|
725
|
-22.3%
|
-21.2%
|
-1.1%
|
KNEES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
108
|
|
218
|
-50.5%
|
-50.5%
|
-
|
|
|
|
|
322
|
|
441
|
-27.1%
|
-27.1%
|
-
|
Intl
|
|
66
|
|
153
|
-56.8%
|
-55.3%
|
-1.5%
|
|
|
|
|
196
|
|
299
|
-34.6%
|
-32.7%
|
-1.9%
|
WW
|
|
174
|
|
372
|
-53.1%
|
-52.5%
|
-0.6%
|
|
|
|
|
517
|
|
741
|
-30.1%
|
-29.3%
|
-0.8%
|
TRAUMA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
354
|
|
407
|
-12.9%
|
-12.9%
|
-
|
|
|
|
|
761
|
|
824
|
-7.6%
|
-7.6%
|
-
|
Intl
|
|
198
|
|
265
|
-25.2%
|
-22.6%
|
-2.6%
|
|
|
|
|
445
|
|
533
|
-16.5%
|
-13.9%
|
-2.6%
|
WW
|
|
553
|
|
672
|
-17.8%
|
-16.7%
|
-1.1%
|
|
|
|
|
1,207
|
|
1,357
|
-11.1%
|
-10.0%
|
-1.1%
|
SPINE, SPORTS &
OTHER(7)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
270
|
|
490
|
-45.0%
|
-45.0%
|
-
|
|
|
|
|
693
|
|
955
|
-27.4%
|
-27.4%
|
-
|
Intl
|
|
230
|
|
328
|
-29.9%
|
-27.9%
|
-2.0%
|
|
|
|
|
510
|
|
651
|
-21.7%
|
-19.6%
|
-2.1%
|
WW
|
|
499
|
|
818
|
-39.0%
|
-38.2%
|
-0.8%
|
|
|
|
|
1,202
|
|
1,606
|
-25.1%
|
-24.3%
|
-0.8%
|
SURGERY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
490
|
|
926
|
-47.0%
|
-47.0%
|
-
|
|
|
|
|
1,334
|
|
1,927
|
-30.8%
|
-30.8%
|
-
|
Intl
|
|
1,060
|
|
1,427
|
-25.7%
|
-22.6%
|
-3.1%
|
|
|
|
|
2,317
|
|
2,821
|
-17.9%
|
-14.8%
|
-3.1%
|
WW
|
|
1,551
|
|
2,353
|
-34.1%
|
-32.2%
|
-1.9%
|
|
|
|
|
3,651
|
|
4,748
|
-23.1%
|
-21.3%
|
-1.8%
|
ADVANCED
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
277
|
|
396
|
-30.0%
|
-30.0%
|
-
|
|
|
|
|
658
|
|
800
|
-17.7%
|
-17.7%
|
-
|
Intl
|
|
498
|
|
633
|
-21.2%
|
-18.4%
|
-2.8%
|
|
|
|
|
1,065
|
|
1,209
|
-11.9%
|
-8.9%
|
-3.0%
|
WW
|
|
775
|
|
1,029
|
-24.6%
|
-22.9%
|
-1.7%
|
|
|
|
|
1,723
|
|
2,009
|
-14.2%
|
-12.4%
|
-1.8%
|
GENERAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
213
|
|
530
|
-59.8%
|
-59.8%
|
-
|
|
|
|
|
676
|
|
1,127
|
-40.0%
|
-40.0%
|
-
|
Intl
|
|
562
|
|
794
|
-29.2%
|
-26.0%
|
-3.2%
|
|
|
|
|
1,252
|
|
1,612
|
-22.4%
|
-19.2%
|
-3.2%
|
WW
|
|
775
|
|
1,325
|
-41.5%
|
-39.5%
|
-2.0%
|
|
|
|
|
1,928
|
|
2,739
|
-29.6%
|
-27.8%
|
-1.8%
|
VISION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
248
|
|
461
|
-46.1%
|
-46.1%
|
-
|
|
|
|
|
687
|
|
907
|
-24.2%
|
-24.2%
|
-
|
Intl
|
|
447
|
|
701
|
-36.1%
|
-34.8%
|
-1.3%
|
|
|
|
|
1,075
|
|
1,383
|
-22.3%
|
-20.8%
|
-1.5%
|
WW
|
|
695
|
|
1,161
|
-40.1%
|
-39.3%
|
-0.8%
|
|
|
|
|
1,762
|
|
2,290
|
-23.0%
|
-22.2%
|
-0.8%
|
CONTACT LENSES /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
203
|
|
333
|
-39.0%
|
-39.0%
|
-
|
|
|
|
|
549
|
|
654
|
-16.1%
|
-16.1%
|
-
|
Intl
|
|
352
|
|
509
|
-30.9%
|
-29.6%
|
-1.3%
|
|
|
|
|
819
|
|
1,011
|
-19.0%
|
-17.6%
|
-1.4%
|
WW
|
|
554
|
|
842
|
-34.1%
|
-33.3%
|
-0.8%
|
|
|
|
|
1,368
|
|
1,666
|
-17.9%
|
-17.0%
|
-0.9%
|
SURGICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
45
|
|
128
|
-64.6%
|
-64.6%
|
-
|
|
|
|
|
138
|
|
253
|
-45.3%
|
-45.3%
|
-
|
Intl
|
|
96
|
|
191
|
-49.9%
|
-48.8%
|
-1.1%
|
|
|
|
|
256
|
|
371
|
-31.0%
|
-29.6%
|
-1.4%
|
WW
|
|
141
|
|
319
|
-55.8%
|
-55.2%
|
-0.6%
|
|
|
|
|
394
|
|
624
|
-36.8%
|
-36.0%
|
-0.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,862
|
|
3,083
|
-39.6%
|
-39.6%
|
-
|
|
|
|
|
4,760
|
|
6,192
|
-23.1%
|
-23.1%
|
-
|
Intl
|
|
2,426
|
|
3,406
|
-28.8%
|
-26.4%
|
-2.4%
|
|
|
|
|
5,460
|
|
6,756
|
-19.2%
|
-16.8%
|
-2.4%
|
WW
|
|
$
4,288
|
|
6,489
|
-33.9%
|
-32.7%
|
-1.2%
|
|
|
|
|
$
10,220
|
|
12,948
|
-21.1%
|
-19.8%
|
-1.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
(6) Reported as U.S.
sales
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Operational
growth excludes the effect of translational currency
|
|
(7) Previously
referred to as Spine & Other
|
|
|
|
|
|
|
|
|
|
|
|
(2)
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Previously
referred to as Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4) Previously
referred to as Beauty
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5) Certain prior
year amounts have been reclassified to conform to current year
product disclosures
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2020-second-quarter-results-301094705.html
SOURCE Johnson & Johnson