NEW BRUNSWICK, N.J.,
Jan. 23, 2018 /PRNewswire/
-- Johnson & Johnson (NYSE: JNJ) today announced sales of
$20.2 billion for the fourth quarter
of 2017, an increase of 11.5% as compared to the fourth quarter of
2016. Operational sales results increased 9.4% and the positive
impact of currency was 2.1%. Domestic sales increased 9.8%.
International sales increased 13.5%, reflecting operational growth
of 9.0% and a positive currency impact of 4.5%. Excluding the net
impact of acquisitions and divestitures, on an operational basis,
worldwide sales for the fourth quarter of 2017 increased 4.2%,
domestic sales increased 4.1% and international sales increased
4.3%.*
Worldwide sales for the full-year 2017 were $76.5 billion, an increase of 6.3% versus 2016.
Operational results increased 6.0% and the positive impact of
currency was 0.3%. Domestic sales increased 5.4%. International
sales increased 7.4%, reflecting operational growth of 6.6% and a
positive currency impact of 0.8%. Excluding the net impact of
acquisitions and divestitures, on an operational basis, worldwide
sales for the full-year 2017 increased 2.4%, domestic sales
increased 1.6% and international sales increased
3.3%.*
Net loss and diluted loss per share for the fourth quarter of
2017 were $10.7 billion and
$3.99, respectively. Fourth-quarter
2017 net loss included after-tax intangible amortization expense of
approximately $0.9 billion and a net
charge for after-tax special items of approximately $14.6 billion. Included in these special items is
a provisional amount of approximately $13.6
billion associated with the recent enactment of tax
legislation.** Fourth-quarter 2016 net earnings included
after-tax intangible amortization expense of approximately
$0.3 billion and a net charge for
after-tax special items of approximately $0.3 billion. Excluding after-tax intangible
amortization expense and special items, adjusted net earnings for
the current quarter were $4.8 billion
and adjusted diluted earnings per share were $1.74, representing increases of 9.5% and 10.1%,
respectively, as compared to the same period in 2016.*
On an operational basis, adjusted diluted earnings per share
increased 5.7%.* A reconciliation of non-GAAP financial
measures is included as an accompanying schedule.
Net earnings and diluted earnings per share for the full-year
2017 were $1.3 billion and
$0.47, respectively. Full-year
net earnings included after-tax intangible amortization expense of
approximately $2.5 billion and a
charge for after-tax special items of approximately $16.2 billion. Included in these special items is
a provisional amount of approximately $13.6
billion associated with the recent enactment of tax
legislation.** Full-year 2016 net earnings included
after-tax intangible amortization expense of approximately
$0.9 billion and a charge for
after-tax special items of approximately $1.3 billion. Excluding after-tax intangible
amortization expense and special items, adjusted net earnings for
the full-year of 2017 were $20.0
billion and adjusted diluted earnings per share were
$7.30, representing increases of 6.8%
and 8.5%, respectively, as compared to the same period in
2016.* On an operational basis, adjusted diluted
earnings per share also increased 7.6%.* A
reconciliation of non-GAAP financial measures is included as an
accompanying schedule.
"Johnson & Johnson delivered strong adjusted earnings per
share growth of 8.5% and total shareholder return of greater than
24% in 2017, driven by the robust performance of our Pharmaceutical
business, while continuing to make investments in acquisitions,
innovation and strategic partnerships to accelerate growth in each
of our businesses," said Alex
Gorsky, Chairman and Chief Executive Officer. "As we enter
2018 and look beyond, we are experiencing an incredible pace of
change in health care. Johnson & Johnson is uniquely positioned
to lead during this dynamic era and deliver innovative solutions
for patients and consumers that drive sustainable, long-term
growth. We are pleased with the passage of recent legislation
modernizing the U.S. tax system, which enables Johnson &
Johnson to invest in innovation at higher levels to help address
the most challenging unmet medical needs facing health care
today."
Mr. Gorsky continued, "I want to thank all of our talented
colleagues for their commitment, passion and dedication to
transforming the lives of patients and consumers worldwide."
The Company announced its 2018 full-year guidance for sales of
$80.6 billion to $81.4 billion reflecting expected operational
growth in the range of 3.5% to 4.5%. The Company also announced
adjusted earnings guidance for full-year 2018 of $8.00 to $8.20 per
share reflecting expected operational growth in the range of 6.8%
to 9.6%.* Adjusted earnings guidance excludes the impact
of after-tax intangible amortization expense and special items.
Segment Sales Performance
Worldwide Consumer sales of $13.6
billion for the full-year 2017 represented an increase of
2.2% versus the prior year, consisting of an operational increase
of 1.3% and a positive impact from currency of 0.9%. Domestic sales
increased 2.7%; international sales increased 1.9%, which reflected
an operational increase of 0.4% and a positive currency impact of
1.5%. Excluding the net impact of acquisitions and divestitures, on
an operational basis, worldwide sales decreased 0.5%, domestic
sales decreased 0.7% and international sales decreased
0.3%*.
Worldwide operational results, excluding the net impact of
acquisitions and divestitures, were negatively impacted by declines
in the Baby Care and Oral Care businesses, mostly offset by growth
in over-the-counter products, including TYLENOL®
analgesics and upper respiratory products, and
NEUTROGENA® beauty products.
Worldwide Pharmaceutical sales of $36.3
billion for the full-year 2017 represented an increase of
8.3% versus the prior year with an operational increase of 8.0% and
a positive impact from currency of 0.3%. Domestic sales increased
6.7%; international sales increased 10.8%, which reflected an
operational increase of 10.1% and a positive currency impact of
0.7%. Sales included the impact of the acquisition of Actelion Ltd.
which was completed in June 2017 and
contributed 4.2% to worldwide operational sales growth. Excluding
the net impact of acquisitions and divestitures, on an operational
basis, worldwide sales increased 4.2%, domestic sales increased
3.1% and international sales increased 5.8%.*
Worldwide operational sales growth was negatively impacted by
approximately 1.8 points due to a positive adjustment of U.S.
rebate accruals in the first half of 2016, which did not repeat in
the first half of 2017.
Worldwide operational results, excluding the net impact of
acquisitions and divestitures, were driven by new products and the
strength of core products. Strong growth in new products include
DARZALEX® (daratumumab), for the treatment of patients
with multiple myeloma, IMBRUVICA® (ibrutinib), an oral,
once-daily therapy approved for use in treating certain B-cell
malignancies, a type of blood or lymph node cancer and
TREMFYA® (guselkumab), for the treatment of adults
living with moderate to severe plaque psoriasis.
Additional contributors to operational sales growth included
STELARA® (ustekinumab), a biologic for the treatment
of a number of immune-mediated inflammatory diseases,
INVEGA®
SUSTENNA®/XEPLION®/TRINZA®
(paliperidone palmitate), long-acting, injectable atypical
antipsychotics for the treatment of schizophrenia in adults,
ZYTIGA® (abiraterone acetate), an oral, once-daily
medication for use in combination with prednisone for the treatment
of metastatic, castration-resistant prostate cancer, and
XARELTO® (rivaroxaban), an oral anticoagulant, partially
offset by declines in REMICADE® (infliximab), a biologic
approved for the treatment of a number of immune-mediated
inflammatory diseases, due to biosimilar entrants.
During the quarter, the U.S. Food and Drug Administration (FDA)
approved JULUCA® (rilpivirine and dolutegravir), the
first, complete, single-pill, two-drug regimen for the treatment of
human immunodeficiency virus type 1 (HIV-1) infection; a 10 mg
once-daily dose of XARELTO® (rivaroxaban) for reducing
the continued risk for recurrent venous thromboembolism after
completing at least six months of initial anticoagulation therapy;
and SIMPONI ARIA® (golimumab) for the treatment of
adults with active psoriatic arthritis or active ankylosing
spondylitis. The European Commission approved TREMFYA®
(guselkumab) for the treatment of adults with moderate to severe
plaque psoriasis and granted approval to broaden the existing
marketing authorization for ZYTIGA® (abiraterone
acetate) plus prednisone / prednisolone to include the treatment of
newly-diagnosed high-risk metastatic hormone-sensitive prostate
cancer.
Regulatory applications for approval were submitted to the FDA
and European Medicines Agency to expand the current indication of
DARZALEX® (daratumumab) for use in combination with
bortezomib, melphalan and prednisone, as a treatment for newly
diagnosed patients with multiple myeloma ineligible for autologous
stem cell transplantation. In addition, a supplemental New
Drug Application was submitted to the FDA for two new
XARELTO® (rivaroxaban) vascular indications: reducing
the risk of major cardiovascular (CV) events such as CV death,
heart attack or stroke in patients with chronic coronary and/or
peripheral artery disease (CAD/PAD), and for reducing the risk of
acute limb ischemia in patients with PAD.
Also in the quarter, a worldwide collaboration and license
agreement was executed with Legend Biotech, a subsidiary of
GenScript Biotech Corporation, to develop, manufacture and
commercialize a chimeric antigen receptor (CAR) T-cell therapy,
LCAR-B38M, targeting BCMA for the treatment of multiple
myeloma.
Worldwide Medical Devices sales of $26.6
billion for the full-year 2017 represented an increase of
5.9% versus the prior year consisting of an operational increase of
5.7% and a positive currency impact of 0.2%. Domestic sales
increased 4.5%; international sales increased 7.1%, which reflected
an operational increase of 6.7% and a positive currency impact of
0.4%. Sales included the impact of the acquisition of Abbott
Medical Optics which contributed 4.5%, to worldwide operational
sales growth. Excluding the net impact of acquisitions and
divestitures, on an operational basis, worldwide sales increased
1.5%, domestic sales were flat and international sales increased
3.0%.*
Worldwide operational results, excluding the net impact of
acquisitions and divestitures, were driven by electrophysiology
products in the Cardiovascular business; endocutters and
biosurgicals in the Advanced Surgery business; ACUVUE®
contact lenses in the Vision Care business; and wound closure
products in the General Surgery business, partially offset by
declines in the Diabetes Care business and spine products in the
Orthopaedics business.
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.
* Operational sales growth excluding the net impact
of acquisitions and divestitures, as well as adjusted net earnings,
adjusted diluted earnings per share and operational adjusted
diluted earnings per share excluding after-tax intangible
amortization expense and special items, are non-GAAP financial
measures and should not be considered replacements for, and should
be read together with, the most comparable GAAP financial measures.
Except for guidance measures, reconciliations of these non-GAAP
financial measures to the most directly comparable GAAP financial
measures can be found in the accompanying financial schedules of
the earnings release and the Investor Relations section of the
company's website at www.investor.jnj.com. Johnson & Johnson
does not provide GAAP financial measures on a forward-looking basis
because the company is unable to predict with reasonable certainty
the ultimate outcome of legal proceedings, unusual gains and
losses, acquisition-related expenses and purchase accounting fair
value adjustments without unreasonable effort. These items are
uncertain, depend on various factors, and could be material to
Johnson & Johnson's results computed in accordance with
GAAP.
** The provisional estimates are based on the
Company's initial analysis of the Tax Cuts and Jobs Act (the "Act")
as of January 18, 2018. Given
the significant complexity of the Act, anticipated guidance from
the U. S. Treasury about implementing the Act, and the potential
for additional guidance from the Securities and Exchange Commission
or the Financial Accounting Standards Board related to the Act,
these estimates may be adjusted during 2018.
Johnson & Johnson will conduct a conference call with
investors to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast
of the call for investors and other interested parties may be
accessed by visiting the Johnson & Johnson website at
www.investor.jnj.com. A replay and podcast will be available
approximately two hours after the live webcast by visiting
www.investor.jnj.com.
Copies of the financial schedules accompanying this press
release are available at www.investor.jnj.com/historical-sales.cfm.
These schedules include supplementary sales data, a condensed
consolidated statement of earnings, reconciliations of non-GAAP
financial measures, and sales of key products/franchises.
Additional information on Johnson & Johnson, including adjusted
income before tax by segment, a pharmaceutical pipeline of selected
compounds in late stage development and a copy of today's earnings
call presentation can be found on the company's website at
www.investor.jnj.com.
NOTE TO INVESTORS CONCERNING FORWARD-LOOKING
STATEMENTS
This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995
regarding, among other things, future operating and financial
performance, product development, market position and business
strategy. The reader is cautioned not to rely on these
forward-looking statements. These statements are based on current
expectations of future events. If underlying assumptions prove
inaccurate or known or unknown risks or uncertainties materialize,
actual results could vary materially from the expectations and
projections of Johnson & Johnson. Risks and uncertainties
include, but are not limited to: economic and financial market
factors, such as interest rate and currency exchange rate
fluctuations; competition, including technological advances, new
products and patents attained by competitors; challenges inherent
in product research and development, including uncertainty of
clinical success and obtaining regulatory approvals; uncertainty of
commercial success for new and existing products; challenges to
patents; the impact of patent expirations; the ability of the
Company to successfully execute strategic plans, including
restructuring plans; the impact of business combinations and
divestitures; significant adverse litigation or government action,
including related to product liability claims and allegations
concerning opioid marketing practices; changes to applicable laws
and regulations, including tax laws and global health care reforms;
trends toward health care cost containment; changes in behavior and
spending patterns of purchasers of health care products and
services; financial instability of international economies and
legal systems and sovereign risk; manufacturing difficulties or
delays, internally or within the supply chain; product efficacy or
safety concerns resulting in product recalls or regulatory action;
increased scrutiny of the health care industry by government
agencies; and the potential failure to meet obligations in
compliance agreements with government bodies. A further list and
descriptions of these risks, uncertainties and other factors can be
found in Johnson & Johnson's Annual Report on Form 10-K for the
fiscal year ended January 1, 2017,
including under "Item 1A. Risk Factors," its most recently filed
Quarterly Report on Form 10-Q, including in the section captioned
"Cautionary Note Regarding Forward-Looking Statements," and the
company's subsequent filings with the Securities and Exchange
Commission. Copies of these filings are available online at
www.sec.gov, www.investor.jnj.com, or on request from Johnson &
Johnson. Any forward-looking statement made in this release speaks
only as of the date of this release. Johnson & Johnson does not
undertake to update any forward-looking statement as a result of
new information or future events or developments.
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2017
|
|
2016
|
|
Total
|
|
Operations
|
|
Currency
|
|
2017
|
|
2016
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
1,379
|
|
1,387
|
|
(0.6)
|
%
|
(0.6)
|
|
-
|
|
$
5,565
|
|
5,420
|
|
2.7
|
%
|
2.7
|
|
-
|
International
|
2,161
|
|
2,045
|
|
5.7
|
|
1.2
|
|
4.5
|
|
8,037
|
|
7,887
|
|
1.9
|
|
0.4
|
|
1.5
|
|
3,540
|
|
3,432
|
|
3.1
|
|
0.4
|
|
2.7
|
|
13,602
|
|
13,307
|
|
2.2
|
|
1.3
|
|
0.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
5,776
|
|
5,002
|
|
15.5
|
|
15.5
|
|
-
|
|
21,474
|
|
20,125
|
|
6.7
|
|
6.7
|
|
-
|
International
|
3,905
|
|
3,230
|
|
20.9
|
|
15.5
|
|
5.4
|
|
14,782
|
|
13,339
|
|
10.8
|
|
10.1
|
|
0.7
|
|
9,681
|
|
8,232
|
|
17.6
|
|
15.5
|
|
2.1
|
|
36,256
|
|
33,464
|
|
8.3
|
|
8.0
|
|
0.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
3,314
|
|
3,148
|
|
5.3
|
|
5.3
|
|
-
|
|
12,824
|
|
12,266
|
|
4.5
|
|
4.5
|
|
-
|
International
|
3,660
|
|
3,294
|
|
11.1
|
|
7.5
|
|
3.6
|
|
13,768
|
|
12,853
|
|
7.1
|
|
6.7
|
|
0.4
|
|
6,974
|
|
6,442
|
|
8.3
|
|
6.5
|
|
1.8
|
|
26,592
|
|
25,119
|
|
5.9
|
|
5.7
|
|
0.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
10,469
|
|
9,537
|
|
9.8
|
|
9.8
|
|
-
|
|
39,863
|
|
37,811
|
|
5.4
|
|
5.4
|
|
-
|
International
|
9,726
|
|
8,569
|
|
13.5
|
|
9.0
|
|
4.5
|
|
36,587
|
|
34,079
|
|
7.4
|
|
6.6
|
|
0.8
|
Worldwide
|
$
20,195
|
|
18,106
|
|
11.5
|
%
|
9.4
|
|
2.1
|
|
$
76,450
|
|
71,890
|
|
6.3
|
%
|
6.0
|
|
0.3
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2017
|
|
2016
|
|
Total
|
|
Operations
|
|
Currency
|
|
2017
|
|
2016
|
|
Total
|
|
Operations
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
10,469
|
|
9,537
|
|
9.8
|
%
|
9.8
|
|
-
|
|
$
39,863
|
|
37,811
|
|
5.4
|
%
|
5.4
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
4,728
|
|
4,001
|
|
18.2
|
|
10.1
|
|
8.1
|
|
17,126
|
|
15,770
|
|
8.6
|
|
7.2
|
|
1.4
|
Western Hemisphere
excluding U.S.
|
1,519
|
|
1,465
|
|
3.7
|
|
1.8
|
|
1.9
|
|
6,041
|
|
5,734
|
|
5.4
|
|
2.8
|
|
2.6
|
Asia-Pacific,
Africa
|
3,479
|
|
3,103
|
|
12.1
|
|
11.1
|
|
1.0
|
|
13,420
|
|
12,575
|
|
6.7
|
|
7.5
|
|
(0.8)
|
International
|
9,726
|
|
8,569
|
|
13.5
|
|
9.0
|
|
4.5
|
|
36,587
|
|
34,079
|
|
7.4
|
|
6.6
|
|
0.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
$
20,195
|
|
18,106
|
|
11.5
|
%
|
9.4
|
|
2.1
|
|
$
76,450
|
|
71,890
|
|
6.3
|
%
|
6.0
|
|
0.3
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
FOURTH
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
2016
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
20,195
|
|
100.0
|
|
$
18,106
|
|
100.0
|
|
11.5
|
Cost of products
sold
|
7,243
|
|
35.9
|
|
5,534
|
|
30.5
|
|
30.9
|
Selling, marketing
and administrative expenses
|
6,025
|
|
29.8
|
|
5,309
|
|
29.3
|
|
13.5
|
Research and
development expense
|
3,635
|
|
18.0
|
|
2,640
|
|
14.6
|
|
37.7
|
In-process
research and development
|
408
|
|
2.0
|
|
-
|
|
-
|
|
|
Interest (income)
expense, net
|
189
|
|
0.9
|
|
84
|
|
0.5
|
|
|
Other (income)
expense, net
|
(9)
|
|
0.0
|
|
20
|
|
0.1
|
|
|
Restructuring
|
144
|
|
0.7
|
|
195
|
|
1.1
|
|
|
Earnings before
provision for taxes on income
|
2,560
|
|
12.7
|
|
4,324
|
|
23.9
|
|
(40.8)
|
Provision for
taxes on income
|
13,273
|
|
65.7
|
|
510
|
|
2.8
|
|
|
Net
earnings/(Loss)
|
$
(10,713)
|
|
(53.0)
|
|
$
3,814
|
|
21.1
|
|
(380.9)
|
|
|
|
|
|
|
|
|
|
|
Net
earnings/(Loss) per share (Basic/Diluted)*
|
$
(3.99)
|
|
|
|
$
1.38
|
|
|
|
(389.1)
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Basic/Diluted)*
|
2,684.9
|
|
|
|
2,764.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
518.5
|
%
|
|
|
11.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
5,251
|
|
26.0
|
|
$
5,103
|
|
28.2
|
|
2.9
|
Net
earnings
|
$
4,777
|
|
23.7
|
|
$
4,361
|
|
24.1
|
|
9.5
|
Net earnings per
share (Diluted)
|
$
1.74
|
|
|
|
$
1.58
|
|
|
|
10.1
|
Average shares
outstanding (Diluted)**
|
2,740.7
|
|
|
|
2,764.5
|
|
|
|
|
Effective tax
rate
|
9.0
|
%
|
|
|
14.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*Basic shares are
used to calculate loss per share as use of diluted shares when in a
loss position would be anti-dilutive.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
**Difference of 55.8
shares due to anti-dilutive impact on net loss position.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
TWELVE
MONTHS
|
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
2016
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
76,450
|
|
100.0
|
|
$
71,890
|
|
100.0
|
|
6.3
|
Cost of products
sold
|
25,354
|
|
33.2
|
|
21,685
|
|
30.2
|
|
16.9
|
Selling, marketing
and administrative expenses
|
21,420
|
|
28.0
|
|
19,945
|
|
27.7
|
|
7.4
|
Research and
development expense
|
10,554
|
|
13.8
|
|
9,095
|
|
12.7
|
|
16.0
|
In-process
research and development
|
408
|
|
0.6
|
|
29
|
|
0.0
|
|
|
Interest (income)
expense, net
|
549
|
|
0.7
|
|
358
|
|
0.5
|
|
|
Other (income)
expense, net
|
183
|
|
0.2
|
|
484
|
|
0.7
|
|
|
Restructuring
|
309
|
|
0.4
|
|
491
|
|
0.7
|
|
|
Earnings before
provision for taxes on income
|
17,673
|
|
23.1
|
|
19,803
|
|
27.5
|
|
(10.8)
|
Provision for
taxes on income
|
16,373
|
|
21.4
|
|
3,263
|
|
4.5
|
|
401.8
|
Net
earnings
|
$
1,300
|
|
1.7
|
|
$
16,540
|
|
23.0
|
|
(92.1)
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
0.47
|
|
|
|
$
5.93
|
|
|
|
(92.1)
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,745.3
|
|
|
|
2,788.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
92.6
|
%
|
|
|
16.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
24,212
|
|
31.7
|
|
$
22,759
|
|
31.7
|
|
6.4
|
Net
earnings
|
$
20,040
|
|
26.2
|
|
$
18,764
|
|
26.1
|
|
6.8
|
Net earnings per
share (Diluted)
|
$
7.30
|
|
|
|
$
6.73
|
|
|
|
8.5
|
Effective tax
rate
|
17.2
|
%
|
|
|
17.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fourth
Quarter
|
|
% Incr. /
|
|
|
Twelve
Months
|
|
% Incr. /
|
|
(Dollars in
Millions Except Per Share Data)
|
|
2017
|
|
2016
|
|
(Decr.)
|
|
|
2017
|
|
2016
|
|
(Decr.)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as reported
|
|
$
2,560
|
|
4,324
|
|
(40.8)
|
%
|
|
$ 17,673
|
|
19,803
|
|
(10.8)
|
%
|
Intangible asset
amortization expense
|
|
1,077
|
|
344
|
|
|
|
|
2,963
|
|
1,271
|
|
|
|
Litigation expense,
net
|
|
645
|
|
96
|
|
|
|
|
1,256
|
|
817
|
|
|
|
Actelion acquisition
related cost
|
|
217
|
|
-
|
|
|
|
|
797
|
|
-
|
|
|
|
Restructuring/Other
(1)
|
|
284
|
|
298
|
|
|
|
|
760
|
|
685
|
|
|
|
In-process research
and development
|
|
408
|
|
-
|
|
|
|
|
408
|
|
29
|
|
|
|
Diabetes asset
impairment
|
|
35
|
|
-
|
|
|
|
|
215
|
|
-
|
|
|
|
AMO acquisition
related cost
|
|
25
|
|
-
|
|
|
|
|
140
|
|
-
|
|
|
|
DePuy ASR™ Hip
program
|
|
-
|
|
9
|
|
|
|
|
-
|
|
9
|
|
|
|
Other
|
|
-
|
|
32
|
|
|
|
|
-
|
|
145
|
|
|
|
Earnings before
provision for taxes on income - as adjusted
|
|
$
5,251
|
|
5,103
|
|
2.9
|
%
|
|
$ 24,212
|
|
22,759
|
|
6.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings/(Loss) -
as reported
|
|
$ (10,713)
|
|
3,814
|
|
(380.9)
|
%
|
|
$
1,300
|
|
16,540
|
|
(92.1)
|
%
|
Impact of tax
legislation
|
|
13,556
|
|
-
|
|
|
|
|
13,556
|
|
-
|
|
|
|
Intangible asset
amortization expense
|
|
926
|
|
252
|
|
|
|
|
2,481
|
|
931
|
|
|
|
Litigation expense,
net
|
|
506
|
|
80
|
|
|
|
|
955
|
|
675
|
|
|
|
Actelion acquisition
related cost
|
|
313
|
|
-
|
|
|
|
|
767
|
|
-
|
|
|
|
Restructuring/Other
|
|
237
|
|
251
|
|
|
|
|
595
|
|
544
|
|
|
|
In-process research
and development
|
|
266
|
|
-
|
|
|
|
|
266
|
|
23
|
|
|
|
Diabetes asset
impairment
|
|
(116)
|
|
-
|
|
|
|
|
4
|
|
-
|
|
|
|
AMO acquisition
related cost
|
|
(198)
|
|
-
|
|
|
|
|
116
|
|
-
|
|
|
|
DePuy ASR™ Hip
program
|
|
-
|
|
7
|
|
|
|
|
-
|
|
7
|
|
|
|
Other
|
|
-
|
|
(43)
|
|
|
|
|
-
|
|
44
|
|
|
|
Net Earnings - as
adjusted
|
|
$
4,777
|
|
4,361
|
|
9.5
|
%
|
|
$ 20,040
|
|
18,764
|
|
6.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net
Earnings/(Loss) per share - as reported
|
|
$
(3.99)
|
|
1.38
|
|
(389.1)
|
%
|
|
$
0.47
|
|
5.93
|
|
(92.1)
|
%
|
Dilutive impact of
shares excluded due to net loss position
|
|
0.08
|
|
-
|
|
|
|
|
-
|
|
-
|
|
|
|
Impact of tax
legislation
|
|
4.94
|
|
-
|
|
|
|
|
4.94
|
|
-
|
|
|
|
Intangible asset
amortization expense
|
|
0.34
|
|
0.09
|
|
|
|
|
0.90
|
|
0.33
|
|
|
|
Litigation expense,
net
|
|
0.19
|
|
0.03
|
|
|
|
|
0.35
|
|
0.24
|
|
|
|
Actelion acquisition
related cost
|
|
0.11
|
|
-
|
|
|
|
|
0.28
|
|
-
|
|
|
|
Restructuring/Other
|
|
0.08
|
|
0.09
|
|
|
|
|
0.22
|
|
0.20
|
|
|
|
In-process research
and development
|
|
0.10
|
|
-
|
|
|
|
|
0.10
|
|
0.01
|
|
|
|
Diabetes asset
impairment
|
|
(0.04)
|
|
-
|
|
|
|
|
-
|
|
-
|
|
|
|
AMO acquisition
related cost
|
|
(0.07)
|
|
-
|
|
|
|
|
0.04
|
|
-
|
|
|
|
DePuy ASR™ Hip
program
|
|
-
|
|
-
|
|
|
|
|
-
|
|
-
|
|
|
|
Other
|
|
-
|
|
(0.01)
|
|
|
|
|
-
|
|
0.02
|
|
|
|
Diluted Net Earnings
per share - as adjusted
|
|
$
1.74
|
|
1.58
|
|
10.1
|
%
|
|
$
7.30
|
|
6.73
|
|
8.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted at 2015
foreign currency exchange rates
|
|
|
|
1.59
|
|
|
|
|
|
|
6.78
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impact of currency at
2016 foreign currency exchange rates
|
|
(0.07)
|
|
(0.01)
|
|
|
|
|
(0.06)
|
|
(0.05)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted at 2016
foreign currency exchange rates
|
|
$
1.67
|
|
1.58
|
|
5.7
|
%
|
|
$
7.24
|
|
6.73
|
|
7.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Includes $42M
recorded in cost of products sold and $98M recorded in other
(income) expense for the fourth quarter 2017, and $18M recorded in
cost of products sold
|
|
and $85M recorded in other
(income) expense for the fourth quarter 2016.
|
|
|
|
|
|
|
|
|
|
|
|
|
Includes $88M recorded in
cost of products sold and $363M recorded in other (income) expense
for twelve months YTD 2017, and $45M recorded in cost of products
sold
|
|
and $149M recorded in other
(income) expense for twelve months YTD 2016.
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Sales
Growth Excluding Acquisitions and Divestitures
|
FOURTH
QUARTER 2017 ACTUAL vs. 2016 ACTUAL
|
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(1)
|
WW As
Reported:
|
|
0.4%
|
|
15.5%
|
|
6.5%
|
|
9.4%
|
U.S.
|
|
(0.6)%
|
|
15.5%
|
|
5.3%
|
|
9.8%
|
International
|
|
1.2%
|
|
15.5%
|
|
7.5%
|
|
9.0%
|
|
|
|
|
|
|
|
|
|
Vision
Care
|
|
|
|
|
|
|
|
|
Abbott Medical
Optics
|
|
|
|
|
|
(5.4)
|
|
(1.9)
|
U.S.
|
|
|
|
|
|
(4.9)
|
|
(1.7)
|
International
|
|
|
|
|
|
(5.8)
|
|
(2.2)
|
|
|
|
|
|
|
|
|
|
Pulmonary
Hypertension
|
|
|
|
|
|
|
|
|
Actelion
|
|
|
|
(7.4)
|
|
|
|
(3.4)
|
U.S.
|
|
|
|
(7.3)
|
|
|
|
(3.8)
|
International
|
|
|
|
(7.6)
|
|
|
|
(2.8)
|
|
|
|
|
|
|
|
|
|
Cardiovascular /
Metabolism / Other
|
|
|
|
|
|
|
|
|
Actelion
|
|
|
|
(0.5)
|
|
|
|
(0.2)
|
U.S.
|
|
|
|
(0.3)
|
|
|
|
(0.2)
|
International
|
|
|
|
(0.7)
|
|
|
|
(0.3)
|
|
|
|
|
|
|
|
|
|
Spine &
Other
|
|
|
|
|
|
1.2
|
|
0.5
|
Codman
Neuroscience
|
|
|
|
|
|
0.8
|
|
0.2
|
U.S.
|
|
|
|
|
|
1.6
|
|
0.6
|
International
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
(0.2)
|
|
|
|
(0.3)
|
|
(0.2)
|
U.S.
|
|
0.0
|
|
|
|
(0.9)
|
|
(0.2)
|
International
|
|
(0.5)
|
|
|
|
0.3
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
0.2%
|
|
7.6%
|
|
2.0%
|
|
4.2%
|
U.S.
|
|
(0.6)%
|
|
7.9%
|
|
0.3%
|
|
4.1%
|
International
|
|
0.7%
|
|
7.2%
|
|
3.6%
|
|
4.3%
|
|
|
|
|
|
|
|
|
|
(1)Operational growth excludes the effect
of translational currency
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Sales
Growth Excluding Acquisitions and Divestitures
|
TWELVE
MONTHS 2017 ACTUAL vs. 2016 ACTUAL
|
|
|
|
|
|
|
|
|
|
|
Segments
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(1)
|
WW As
Reported:
|
|
1.3%
|
|
8.0%
|
|
5.7%
|
|
6.0%
|
U.S.
|
|
2.7%
|
|
6.7%
|
|
4.5%
|
|
5.4%
|
International
|
|
0.4%
|
|
10.1%
|
|
6.7%
|
|
6.6%
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Vogue
|
|
(1.5)
|
|
|
|
|
|
(0.3)
|
U.S.
|
|
(3.1)
|
|
|
|
|
|
(0.4)
|
International
|
|
(0.4)
|
|
|
|
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
Other
Neuroscience
|
|
|
|
|
|
|
|
|
Controlled
Substance Raw Material and API Business
|
|
|
|
0.4
|
|
|
|
0.2
|
U.S.
|
|
|
|
0.5
|
|
|
|
0.2
|
International
|
|
|
|
0.2
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
Diagnostics
|
|
|
|
|
|
|
|
|
Ortho-Clinical
Diagnostics
|
|
|
|
|
|
0.2
|
|
0.0
|
U.S.
|
|
|
|
|
|
0.0
|
|
0.0
|
International
|
|
|
|
|
|
0.5
|
|
0.1
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Dr. Ci:
Labo
|
|
(0.3)
|
|
|
|
|
|
(0.1)
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
(0.6)
|
|
|
|
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
Vision
Care
|
|
|
|
|
|
|
|
|
Abbott Medical
Optics
|
|
|
|
|
|
(4.5)
|
|
(1.5)
|
U.S.
|
|
|
|
|
|
(4.0)
|
|
(1.3)
|
International
|
|
|
|
|
|
(4.9)
|
|
(1.8)
|
|
|
|
|
|
|
|
|
|
Pulmonary
Hypertension
|
|
|
|
|
|
|
|
|
Actelion
|
|
|
|
(4.0)
|
|
|
|
(1.9)
|
U.S.
|
|
|
|
(3.8)
|
|
|
|
(2.0)
|
International
|
|
|
|
(4.2)
|
|
|
|
(1.7)
|
|
|
|
|
|
|
|
|
|
Cardiovascular /
Metabolism / Other
|
|
|
|
|
|
|
|
|
Actelion
|
|
|
|
(0.2)
|
|
|
|
(0.1)
|
U.S.
|
|
|
|
(0.3)
|
|
|
|
(0.1)
|
International
|
|
|
|
(0.3)
|
|
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
Spine &
Other
|
|
|
|
|
|
|
|
|
Codman
Neuroscience
|
|
|
|
|
|
0.3
|
|
0.1
|
U.S.
|
|
|
|
|
|
0.2
|
|
0.1
|
International
|
|
|
|
|
|
0.5
|
|
0.2
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.0
|
|
|
|
(0.2)
|
|
0.0
|
U.S.
|
|
(0.3)
|
|
|
|
(0.7)
|
|
(0.3)
|
International
|
|
0.3
|
|
|
|
0.2
|
|
0.1
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
(0.5)%
|
|
4.2%
|
|
1.5%
|
|
2.4%
|
U.S.
|
|
(0.7)%
|
|
3.1%
|
|
0.0%
|
|
1.6%
|
International
|
|
(0.3)%
|
|
5.8%
|
|
3.0%
|
|
3.3%
|
|
|
|
|
|
|
|
|
|
(1)Operational growth excludes the effect
of translational currency
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
CONSUMER SEGMENT
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
123
|
|
$
123
|
0.0%
|
0.0%
|
-
|
|
|
$
449
|
|
$
488
|
-8.0%
|
-8.0%
|
-
|
Intl
|
|
367
|
|
370
|
-0.8%
|
-3.2%
|
2.4%
|
|
|
1,467
|
|
1,513
|
-3.0%
|
-3.6%
|
0.6%
|
WW
|
|
490
|
|
493
|
-0.6%
|
-2.4%
|
1.8%
|
|
|
1,916
|
|
2,001
|
-4.2%
|
-4.7%
|
0.5%
|
BEAUTY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
596
|
|
580
|
2.8%
|
2.8%
|
-
|
|
|
2,335
|
|
2,135
|
9.4%
|
9.4%
|
-
|
Intl
|
|
514
|
|
483
|
6.4%
|
2.0%
|
4.4%
|
|
|
1,865
|
|
1,762
|
5.8%
|
4.5%
|
1.3%
|
WW
|
|
1,110
|
|
1,063
|
4.4%
|
2.4%
|
2.0%
|
|
|
4,200
|
|
3,897
|
7.8%
|
7.2%
|
0.6%
|
ORAL CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
156
|
|
163
|
-4.3%
|
-4.3%
|
-
|
|
|
616
|
|
648
|
-4.9%
|
-4.9%
|
-
|
Intl
|
|
237
|
|
234
|
1.3%
|
-2.6%
|
3.9%
|
|
|
915
|
|
920
|
-0.5%
|
-1.8%
|
1.3%
|
WW
|
|
393
|
|
397
|
-1.0%
|
-3.3%
|
2.3%
|
|
|
1,531
|
|
1,568
|
-2.4%
|
-3.2%
|
0.8%
|
OTC
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
406
|
|
418
|
-2.9%
|
-2.9%
|
-
|
|
|
1,716
|
|
1,675
|
2.4%
|
2.4%
|
-
|
Intl
|
|
699
|
|
621
|
12.6%
|
6.3%
|
6.3%
|
|
|
2,410
|
|
2,302
|
4.7%
|
2.7%
|
2.0%
|
WW
|
|
1,105
|
|
1,039
|
6.4%
|
2.6%
|
3.8%
|
|
|
4,126
|
|
3,977
|
3.7%
|
2.6%
|
1.1%
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3
|
|
3
|
0.0%
|
0.0%
|
-
|
|
|
12
|
|
19
|
-36.8%
|
-36.8%
|
-
|
Intl
|
|
259
|
|
261
|
-0.8%
|
-4.5%
|
3.7%
|
|
|
1,038
|
|
1,048
|
-1.0%
|
-3.1%
|
2.1%
|
WW
|
|
262
|
|
264
|
-0.8%
|
-4.4%
|
3.6%
|
|
|
1,050
|
|
1,067
|
-1.6%
|
-3.7%
|
2.1%
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
95
|
|
100
|
-5.0%
|
-5.0%
|
-
|
|
|
437
|
|
455
|
-4.0%
|
-4.0%
|
-
|
Intl
|
|
85
|
|
76
|
11.8%
|
6.1%
|
5.7%
|
|
|
342
|
|
342
|
0.0%
|
-1.7%
|
1.7%
|
WW
|
|
180
|
|
176
|
2.3%
|
-0.1%
|
2.4%
|
|
|
779
|
|
797
|
-2.3%
|
-3.0%
|
0.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CONSUMER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,379
|
|
1,387
|
-0.6%
|
-0.6%
|
-
|
|
|
5,565
|
|
5,420
|
2.7%
|
2.7%
|
-
|
Intl
|
|
2,161
|
|
2,045
|
5.7%
|
1.2%
|
4.5%
|
|
|
8,037
|
|
7,887
|
1.9%
|
0.4%
|
1.5%
|
WW
|
|
$
3,540
|
|
$
3,432
|
3.1%
|
0.4%
|
2.7%
|
|
|
$
13,602
|
|
$
13,307
|
2.2%
|
1.3%
|
0.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
PHARMACEUTICAL
SEGMENT (2) (3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
2,227
|
|
$
2,157
|
3.2%
|
3.2%
|
-
|
|
|
$
8,871
|
|
$
8,846
|
0.3%
|
0.3%
|
-
|
Intl
|
|
859
|
|
779
|
10.3%
|
5.2%
|
5.1%
|
|
|
3,373
|
|
3,122
|
8.0%
|
6.7%
|
1.3%
|
WW
|
|
3,086
|
|
2,936
|
5.1%
|
3.7%
|
1.4%
|
|
|
12,244
|
|
11,968
|
2.3%
|
2.0%
|
0.3%
|
REMICADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,073
|
|
1,173
|
-8.5%
|
-8.5%
|
-
|
|
|
4,525
|
|
4,842
|
-6.5%
|
-6.5%
|
-
|
US Exports
(4)
|
|
115
|
|
109
|
5.5%
|
5.5%
|
-
|
|
|
563
|
|
782
|
-28.0%
|
-28.0%
|
-
|
Intl
|
|
278
|
|
342
|
-18.7%
|
-22.6%
|
3.9%
|
|
|
1,227
|
|
1,342
|
-8.6%
|
-10.2%
|
1.6%
|
WW
|
|
1,466
|
|
1,624
|
-9.7%
|
-10.5%
|
0.8%
|
|
|
6,315
|
|
6,966
|
-9.3%
|
-9.6%
|
0.3%
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
253
|
|
243
|
4.1%
|
4.1%
|
-
|
|
|
954
|
|
959
|
-0.5%
|
-0.5%
|
-
|
Intl
|
|
237
|
|
183
|
29.5%
|
25.1%
|
4.4%
|
|
|
879
|
|
786
|
11.8%
|
10.9%
|
0.9%
|
WW
|
|
490
|
|
426
|
15.0%
|
13.1%
|
1.9%
|
|
|
1,833
|
|
1,745
|
5.0%
|
4.6%
|
0.4%
|
STELARA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
740
|
|
632
|
17.1%
|
17.1%
|
-
|
|
|
2,767
|
|
2,263
|
22.3%
|
22.3%
|
-
|
Intl
|
|
341
|
|
247
|
38.1%
|
30.6%
|
7.5%
|
|
|
1,244
|
|
969
|
28.4%
|
27.2%
|
1.2%
|
WW
|
|
1,081
|
|
879
|
23.0%
|
20.9%
|
2.1%
|
|
|
4,011
|
|
3,232
|
24.1%
|
23.7%
|
0.4%
|
OTHER
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
46
|
|
-
|
*
|
*
|
-
|
|
|
62
|
|
-
|
*
|
*
|
-
|
Intl
|
|
3
|
|
7
|
-57.1%
|
-57.1%
|
0.0%
|
|
|
23
|
|
25
|
-8.0%
|
-9.3%
|
1.3%
|
WW
|
|
49
|
|
7
|
*
|
*
|
0.0%
|
|
|
85
|
|
25
|
*
|
*
|
1.3%
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
338
|
|
354
|
-4.5%
|
-4.5%
|
-
|
|
|
1,358
|
|
1,461
|
-7.0%
|
-7.0%
|
-
|
Intl
|
|
462
|
|
407
|
13.5%
|
5.9%
|
7.6%
|
|
|
1,796
|
|
1,747
|
2.8%
|
1.0%
|
1.8%
|
WW
|
|
800
|
|
761
|
5.1%
|
1.0%
|
4.1%
|
|
|
3,154
|
|
3,208
|
-1.7%
|
-2.7%
|
1.0%
|
EDURANT /
rilpivirine
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
14
|
|
14
|
0.0%
|
0.0%
|
-
|
|
|
58
|
|
52
|
11.5%
|
11.5%
|
-
|
Intl
|
|
178
|
|
151
|
17.9%
|
8.9%
|
9.0%
|
|
|
656
|
|
521
|
25.9%
|
23.1%
|
2.8%
|
WW
|
|
192
|
|
165
|
16.4%
|
8.2%
|
8.2%
|
|
|
714
|
|
573
|
24.6%
|
22.1%
|
2.5%
|
PREZISTA / PREZCOBIX
/ REZOLSTA / SYMTUZA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
285
|
|
283
|
0.7%
|
0.7%
|
-
|
|
|
1,109
|
|
1,143
|
-3.0%
|
-3.0%
|
-
|
Intl
|
|
185
|
|
164
|
12.8%
|
5.5%
|
7.3%
|
|
|
712
|
|
708
|
0.6%
|
-0.8%
|
1.4%
|
WW
|
|
470
|
|
447
|
5.1%
|
2.4%
|
2.7%
|
|
|
1,821
|
|
1,851
|
-1.6%
|
-2.1%
|
0.5%
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
39
|
|
57
|
-31.6%
|
-31.6%
|
-
|
|
|
191
|
|
266
|
-28.2%
|
-28.2%
|
-
|
Intl
|
|
99
|
|
92
|
7.6%
|
1.5%
|
6.1%
|
|
|
428
|
|
518
|
-17.4%
|
-18.7%
|
1.3%
|
WW
|
|
138
|
|
149
|
-7.4%
|
-11.1%
|
3.7%
|
|
|
619
|
|
784
|
-21.0%
|
-21.9%
|
0.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
|
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
699
|
|
631
|
10.8%
|
10.8%
|
-
|
|
|
2,630
|
|
2,628
|
0.1%
|
0.1%
|
-
|
|
|
Intl
|
|
825
|
|
839
|
-1.7%
|
-5.3%
|
3.6%
|
|
|
3,356
|
|
3,457
|
-2.9%
|
-3.0%
|
0.1%
|
|
|
WW
|
|
1,524
|
|
1,470
|
3.7%
|
1.6%
|
2.1%
|
|
|
5,986
|
|
6,085
|
-1.6%
|
-1.6%
|
0.0%
|
|
|
CONCERTA /
METHYLPHENIDATE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
100
|
|
103
|
-2.9%
|
-2.9%
|
-
|
|
|
384
|
|
468
|
-17.9%
|
-17.9%
|
-
|
|
|
Intl
|
|
103
|
|
101
|
2.0%
|
-0.6%
|
2.6%
|
|
|
407
|
|
395
|
3.0%
|
2.8%
|
0.2%
|
|
|
WW
|
|
203
|
|
204
|
-0.5%
|
-1.8%
|
1.3%
|
|
|
791
|
|
863
|
-8.3%
|
-8.4%
|
0.1%
|
|
|
INVEGA SUSTENNA /
XEPLION / TRINZA / TREVICTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
436
|
|
360
|
21.1%
|
21.1%
|
-
|
|
|
1,590
|
|
1,343
|
18.4%
|
18.4%
|
-
|
|
|
Intl
|
|
257
|
|
225
|
14.2%
|
8.0%
|
6.2%
|
|
|
979
|
|
871
|
12.4%
|
11.6%
|
0.8%
|
|
|
WW
|
|
693
|
|
585
|
18.5%
|
16.1%
|
2.4%
|
|
|
2,569
|
|
2,214
|
16.0%
|
15.7%
|
0.3%
|
|
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
87
|
|
92
|
-5.4%
|
-5.4%
|
-
|
|
|
360
|
|
381
|
-5.5%
|
-5.5%
|
-
|
|
|
Intl
|
|
110
|
|
118
|
-6.8%
|
-11.5%
|
4.7%
|
|
|
445
|
|
512
|
-13.1%
|
-13.4%
|
0.3%
|
|
|
WW
|
|
197
|
|
210
|
-6.2%
|
-8.8%
|
2.6%
|
|
|
805
|
|
893
|
-9.9%
|
-10.1%
|
0.2%
|
|
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
76
|
|
76
|
0.0%
|
0.0%
|
-
|
|
|
296
|
|
436
|
-32.1%
|
-32.1%
|
-
|
|
|
Intl
|
|
355
|
|
395
|
-10.1%
|
-12.2%
|
2.1%
|
|
|
1,525
|
|
1,679
|
-9.2%
|
-8.7%
|
-0.5%
|
|
|
WW
|
|
431
|
|
471
|
-8.5%
|
-10.2%
|
1.7%
|
|
|
1,821
|
|
2,115
|
-13.9%
|
-13.5%
|
-0.4%
|
|
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
891
|
|
595
|
49.7%
|
49.7%
|
-
|
|
|
3,098
|
|
2,335
|
32.7%
|
32.7%
|
-
|
|
|
Intl
|
|
1,148
|
|
867
|
32.4%
|
26.0%
|
6.4%
|
|
|
4,160
|
|
3,472
|
19.8%
|
19.1%
|
0.7%
|
|
|
WW
|
|
2,039
|
|
1,462
|
39.5%
|
35.7%
|
3.8%
|
|
|
7,258
|
|
5,807
|
25.0%
|
24.6%
|
0.4%
|
|
|
DARZALEX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
241
|
|
151
|
59.6%
|
59.6%
|
-
|
|
|
884
|
|
471
|
87.7%
|
87.7%
|
-
|
|
|
Intl
|
|
130
|
|
49
|
*
|
*
|
*
|
|
|
358
|
|
101
|
*
|
*
|
*
|
|
|
WW
|
|
371
|
|
200
|
85.5%
|
82.3%
|
3.2%
|
|
|
1,242
|
|
572
|
*
|
*
|
*
|
|
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
219
|
|
158
|
38.6%
|
38.6%
|
-
|
|
|
841
|
|
613
|
37.2%
|
37.2%
|
-
|
|
|
Intl
|
|
303
|
|
188
|
61.2%
|
52.2%
|
9.0%
|
|
|
1,052
|
|
638
|
64.9%
|
63.2%
|
1.7%
|
|
|
WW
|
|
522
|
|
346
|
50.9%
|
46.0%
|
4.9%
|
|
|
1,893
|
|
1,251
|
51.3%
|
50.4%
|
0.9%
|
|
|
VELCADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
Intl
|
|
271
|
|
274
|
-1.1%
|
-5.6%
|
4.5%
|
|
|
1,114
|
|
1,224
|
-9.0%
|
-8.8%
|
-0.2%
|
|
|
WW
|
|
271
|
|
274
|
-1.1%
|
-5.6%
|
4.5%
|
|
|
1,114
|
|
1,224
|
-9.0%
|
-8.8%
|
-0.2%
|
|
|
ZYTIGA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
402
|
|
249
|
61.4%
|
61.4%
|
-
|
|
|
1,228
|
|
1,089
|
12.8%
|
12.8%
|
-
|
|
|
Intl
|
|
353
|
|
270
|
30.7%
|
25.0%
|
5.7%
|
|
|
1,277
|
|
1,171
|
9.1%
|
8.5%
|
0.6%
|
|
|
WW
|
|
755
|
|
519
|
45.5%
|
42.5%
|
3.0%
|
|
|
2,505
|
|
2,260
|
10.8%
|
10.5%
|
0.3%
|
|
|
OTHER
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
29
|
|
37
|
-21.6%
|
-21.6%
|
-
|
|
|
145
|
|
162
|
-10.5%
|
-10.5%
|
-
|
|
|
Intl
|
|
91
|
|
86
|
5.8%
|
0.5%
|
5.3%
|
|
|
359
|
|
338
|
6.2%
|
5.6%
|
0.6%
|
|
|
WW
|
|
120
|
|
123
|
-2.4%
|
-6.1%
|
3.7%
|
|
|
504
|
|
500
|
0.8%
|
0.4%
|
0.4%
|
|
|
PULMONARY
HYPERTENSION(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
365
|
|
-
|
*
|
*
|
-
|
|
|
773
|
|
-
|
*
|
*
|
-
|
|
|
Intl
|
|
245
|
|
-
|
*
|
*
|
-
|
|
|
554
|
|
-
|
*
|
*
|
-
|
|
|
WW
|
|
610
|
|
-
|
*
|
*
|
-
|
|
|
1,327
|
|
-
|
*
|
*
|
-
|
|
|
OPSUMIT
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
146
|
|
-
|
*
|
*
|
-
|
|
|
320
|
|
-
|
*
|
*
|
-
|
|
|
Intl
|
|
123
|
|
-
|
*
|
*
|
-
|
|
|
253
|
|
-
|
*
|
*
|
-
|
|
|
WW
|
|
269
|
|
-
|
*
|
*
|
-
|
|
|
573
|
|
-
|
*
|
*
|
-
|
|
|
TRACLEER
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
76
|
|
-
|
*
|
*
|
-
|
|
|
161
|
|
-
|
*
|
*
|
-
|
|
|
Intl
|
|
91
|
|
-
|
*
|
*
|
-
|
|
|
242
|
|
-
|
*
|
*
|
-
|
|
|
WW
|
|
167
|
|
-
|
*
|
*
|
-
|
|
|
403
|
|
-
|
*
|
*
|
-
|
|
|
UPTRAVI
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
117
|
|
-
|
*
|
*
|
-
|
|
|
238
|
|
-
|
*
|
*
|
-
|
|
|
Intl
|
|
13
|
|
-
|
*
|
*
|
-
|
|
|
25
|
|
-
|
*
|
*
|
-
|
|
|
WW
|
|
130
|
|
-
|
*
|
*
|
-
|
|
|
263
|
|
-
|
*
|
*
|
-
|
|
|
OTHER(6)
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
26
|
|
-
|
*
|
*
|
-
|
|
|
54
|
|
-
|
*
|
*
|
-
|
|
|
Intl
|
|
18
|
|
-
|
*
|
*
|
-
|
|
|
34
|
|
-
|
*
|
*
|
-
|
|
|
WW
|
|
44
|
|
-
|
*
|
*
|
-
|
|
|
88
|
|
-
|
*
|
*
|
-
|
|
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,256
|
|
1,265
|
-0.7%
|
-0.7%
|
-
|
|
|
4,744
|
|
4,855
|
-2.3%
|
-2.3%
|
-
|
|
|
Intl
|
|
366
|
|
338
|
8.3%
|
3.2%
|
5.1%
|
|
|
1,543
|
|
1,541
|
0.1%
|
0.5%
|
-0.4%
|
|
|
WW
|
|
1,622
|
|
1,603
|
1.2%
|
0.1%
|
1.1%
|
|
|
6,287
|
|
6,396
|
-1.7%
|
-1.6%
|
-0.1%
|
|
|
XARELTO
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
710
|
|
598
|
18.7%
|
18.7%
|
-
|
|
|
2,500
|
|
2,288
|
9.3%
|
9.3%
|
-
|
|
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
WW
|
|
710
|
|
598
|
18.7%
|
18.7%
|
-
|
|
|
2,500
|
|
2,288
|
9.3%
|
9.3%
|
-
|
|
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
221
|
|
334
|
-33.8%
|
-33.8%
|
-
|
|
|
944
|
|
1,273
|
-25.8%
|
-25.8%
|
-
|
|
|
Intl
|
|
46
|
|
37
|
24.3%
|
16.4%
|
7.9%
|
|
|
167
|
|
134
|
24.6%
|
23.7%
|
0.9%
|
|
|
WW
|
|
267
|
|
371
|
-28.0%
|
-28.8%
|
0.8%
|
|
|
1,111
|
|
1,407
|
-21.0%
|
-21.1%
|
0.1%
|
|
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
164
|
|
186
|
-11.8%
|
-11.8%
|
-
|
|
|
675
|
|
767
|
-12.0%
|
-12.0%
|
-
|
|
|
Intl
|
|
68
|
|
73
|
-6.8%
|
-12.1%
|
5.3%
|
|
|
297
|
|
338
|
-12.1%
|
-13.0%
|
0.9%
|
|
|
WW
|
|
232
|
|
259
|
-10.4%
|
-11.9%
|
1.5%
|
|
|
972
|
|
1,105
|
-12.0%
|
-12.3%
|
0.3%
|
|
|
OTHER(6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
161
|
|
147
|
9.5%
|
9.5%
|
-
|
|
|
625
|
|
527
|
18.6%
|
18.6%
|
-
|
|
|
Intl
|
|
252
|
|
228
|
10.5%
|
5.9%
|
4.6%
|
|
|
1,079
|
|
1,069
|
0.9%
|
1.9%
|
-1.0%
|
|
|
WW
|
|
413
|
|
375
|
10.1%
|
7.3%
|
2.8%
|
|
|
1,704
|
|
1,596
|
6.8%
|
7.5%
|
-0.7%
|
|
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
5,776
|
|
5,002
|
15.5%
|
15.5%
|
-
|
|
|
21,474
|
|
20,125
|
6.7%
|
6.7%
|
-
|
|
|
Intl
|
|
3,905
|
|
3,230
|
20.9%
|
15.5%
|
5.4%
|
|
|
14,782
|
|
13,339
|
10.8%
|
10.1%
|
0.7%
|
|
|
WW
|
|
$
9,681
|
|
$
8,232
|
17.6%
|
15.5%
|
2.1%
|
|
|
$
36,256
|
|
$
33,464
|
8.3%
|
8.0%
|
0.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
MEDICAL DEVICES
SEGMENT (2)
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2017
|
|
2016
|
Reported
|
Operational
(1)
|
Currency
|
|
|
CARDIOVASCULAR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
286
|
|
$
247
|
15.8%
|
15.8%
|
-
|
|
|
$
1,071
|
|
$
948
|
13.0%
|
13.0%
|
-
|
|
|
Intl
|
|
282
|
|
238
|
18.5%
|
15.6%
|
2.9%
|
|
|
1,025
|
|
901
|
13.8%
|
14.0%
|
-0.2%
|
|
|
WW
|
|
568
|
|
485
|
17.1%
|
15.7%
|
1.4%
|
|
|
2,096
|
|
1,849
|
13.4%
|
13.5%
|
-0.1%
|
|
|
DIABETES
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
130
|
|
191
|
-31.9%
|
-31.9%
|
-
|
|
|
612
|
|
739
|
-17.2%
|
-17.2%
|
-
|
|
|
Intl
|
|
260
|
|
271
|
-4.1%
|
-9.3%
|
5.2%
|
|
|
1,003
|
|
1,050
|
-4.5%
|
-5.8%
|
1.3%
|
|
|
WW
|
|
390
|
|
462
|
-15.6%
|
-18.7%
|
3.1%
|
|
|
1,615
|
|
1,789
|
-9.7%
|
-10.5%
|
0.8%
|
|
|
DIAGNOSTICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
1
|
|
66
|
*
|
*
|
*
|
|
|
WW
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
1
|
|
66
|
*
|
*
|
*
|
|
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,389
|
|
1,422
|
-2.3%
|
-2.3%
|
-
|
|
|
5,481
|
|
5,521
|
-0.7%
|
-0.7%
|
-
|
|
|
Intl
|
|
950
|
|
965
|
-1.6%
|
-5.8%
|
4.2%
|
|
|
3,777
|
|
3,813
|
-0.9%
|
-1.6%
|
0.7%
|
|
|
WW
|
|
2,339
|
|
2,387
|
-2.0%
|
-3.7%
|
1.7%
|
|
|
9,258
|
|
9,334
|
-0.8%
|
-1.1%
|
0.3%
|
|
|
HIPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
215
|
|
208
|
3.4%
|
3.4%
|
-
|
|
|
827
|
|
798
|
3.6%
|
3.6%
|
-
|
|
|
Intl
|
|
149
|
|
142
|
4.9%
|
0.4%
|
4.5%
|
|
|
567
|
|
563
|
0.7%
|
0.0%
|
0.7%
|
|
|
WW
|
|
364
|
|
350
|
4.0%
|
2.2%
|
1.8%
|
|
|
1,394
|
|
1,361
|
2.4%
|
2.1%
|
0.3%
|
|
|
KNEES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
246
|
|
247
|
-0.4%
|
-0.4%
|
-
|
|
|
948
|
|
943
|
0.5%
|
0.5%
|
-
|
|
|
Intl
|
|
151
|
|
148
|
2.0%
|
-2.5%
|
4.5%
|
|
|
575
|
|
581
|
-1.0%
|
-1.6%
|
0.6%
|
|
|
WW
|
|
397
|
|
395
|
0.5%
|
-1.2%
|
1.7%
|
|
|
1,523
|
|
1,524
|
-0.1%
|
-0.3%
|
0.2%
|
|
|
TRAUMA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
397
|
|
394
|
0.8%
|
0.8%
|
-
|
|
|
1,576
|
|
1,545
|
2.0%
|
2.0%
|
-
|
|
|
Intl
|
|
272
|
|
260
|
4.6%
|
0.4%
|
4.2%
|
|
|
1,040
|
|
1,024
|
1.6%
|
0.7%
|
0.9%
|
|
|
WW
|
|
669
|
|
654
|
2.3%
|
0.6%
|
1.7%
|
|
|
2,616
|
|
2,569
|
1.8%
|
1.5%
|
0.3%
|
|
|
SPINE &
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
531
|
|
573
|
-7.3%
|
-7.3%
|
-
|
|
|
2,130
|
|
2,235
|
-4.7%
|
-4.7%
|
-
|
|
|
Intl
|
|
378
|
|
415
|
-8.9%
|
-13.0%
|
4.1%
|
|
|
1,595
|
|
1,645
|
-3.0%
|
-3.6%
|
0.6%
|
|
|
WW
|
|
909
|
|
988
|
-8.0%
|
-9.7%
|
1.7%
|
|
|
3,725
|
|
3,880
|
-4.0%
|
-4.2%
|
0.2%
|
|
|
SURGERY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,076
|
|
1,023
|
5.2%
|
5.2%
|
-
|
|
|
4,085
|
|
4,026
|
1.5%
|
1.5%
|
-
|
|
|
Intl
|
|
1,482
|
|
1,364
|
8.7%
|
5.4%
|
3.3%
|
|
|
5,474
|
|
5,270
|
3.9%
|
3.5%
|
0.4%
|
|
|
WW
|
|
2,558
|
|
2,387
|
7.2%
|
5.3%
|
1.9%
|
|
|
9,559
|
|
9,296
|
2.8%
|
2.6%
|
0.2%
|
|
|
ADVANCED
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
430
|
|
393
|
9.4%
|
9.4%
|
-
|
|
|
1,620
|
|
1,524
|
6.3%
|
6.3%
|
-
|
|
|
Intl
|
|
593
|
|
515
|
15.1%
|
11.7%
|
3.4%
|
|
|
2,136
|
|
1,993
|
7.2%
|
7.0%
|
0.2%
|
|
|
WW
|
|
1,023
|
|
908
|
12.7%
|
10.8%
|
1.9%
|
|
|
3,756
|
|
3,517
|
6.8%
|
6.7%
|
0.1%
|
|
|
GENERAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
452
|
|
415
|
8.9%
|
8.9%
|
-
|
|
|
1,728
|
|
1,669
|
3.5%
|
3.5%
|
-
|
|
|
Intl
|
|
718
|
|
687
|
4.5%
|
1.0%
|
3.5%
|
|
|
2,735
|
|
2,693
|
1.6%
|
1.2%
|
0.4%
|
|
|
WW
|
|
1,170
|
|
1,102
|
6.2%
|
4.0%
|
2.2%
|
|
|
4,463
|
|
4,362
|
2.3%
|
2.0%
|
0.3%
|
|
|
SPECIALTY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
194
|
|
215
|
-9.8%
|
-9.8%
|
-
|
|
|
737
|
|
833
|
-11.5%
|
-11.5%
|
-
|
|
|
Intl
|
|
171
|
|
162
|
5.6%
|
3.1%
|
2.5%
|
|
|
603
|
|
584
|
3.3%
|
2.4%
|
0.9%
|
|
|
WW
|
|
365
|
|
377
|
-3.2%
|
-4.3%
|
1.1%
|
|
|
1,340
|
|
1,417
|
-5.4%
|
-5.8%
|
0.4%
|
|
|
VISION
CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
433
|
|
265
|
63.4%
|
63.4%
|
-
|
|
|
1,575
|
|
1,032
|
52.6%
|
52.6%
|
-
|
|
|
Intl
|
|
686
|
|
456
|
50.4%
|
48.2%
|
2.2%
|
|
|
2,488
|
|
1,753
|
41.9%
|
42.0%
|
-0.1%
|
|
|
WW
|
|
1,119
|
|
721
|
55.2%
|
53.8%
|
1.4%
|
|
|
4,063
|
|
2,785
|
45.9%
|
46.0%
|
-0.1%
|
|
|
CONTACT LENSES /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
290
|
|
265
|
9.4%
|
9.4%
|
-
|
|
|
1,122
|
|
1,032
|
8.7%
|
8.7%
|
-
|
|
|
Intl
|
|
510
|
|
456
|
11.8%
|
9.6%
|
2.2%
|
|
|
1,914
|
|
1,753
|
9.2%
|
9.3%
|
-0.1%
|
|
|
WW
|
|
800
|
|
721
|
11.0%
|
9.6%
|
1.4%
|
|
|
3,036
|
|
2,785
|
9.0%
|
9.1%
|
-0.1%
|
|
|
SURGICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
143
|
|
-
|
*
|
*
|
-
|
|
|
453
|
|
-
|
*
|
*
|
-
|
|
|
Intl
|
|
176
|
|
-
|
*
|
*
|
-
|
|
|
574
|
|
-
|
*
|
*
|
-
|
|
|
WW
|
|
319
|
|
-
|
*
|
*
|
-
|
|
|
1,027
|
|
-
|
*
|
*
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3,314
|
|
3,148
|
5.3%
|
5.3%
|
-
|
|
|
12,824
|
|
12,266
|
4.5%
|
4.5%
|
-
|
|
|
Intl
|
|
3,660
|
|
3,294
|
11.1%
|
7.5%
|
3.6%
|
|
|
13,768
|
|
12,853
|
7.1%
|
6.7%
|
0.4%
|
|
|
WW
|
|
$
6,974
|
|
6,442
|
8.3%
|
6.5%
|
1.8%
|
|
|
$
26,592
|
|
$
25,119
|
5.9%
|
5.7%
|
0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Percentage greater
than 100% or not meaningful
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Operational
growth excludes the effect of translational currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)
Unaudited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Prior year
amounts have been reclassified to conform to current year product
disclosure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4) Reported as U.S.
sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5) Actelion
acquisition completed June 16, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6) All non-PAH
Actelion products were reclassified to Other within the
Cardiovascular/Metabolisim/Other therapeutic area. See
supplementary schedule.
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
Supplemental Schedule
|
|
|
|
|
|
Prior quarter
amounts have been reclassified to
conform to current quarter product disclosure
($MM)
|
|
|
|
|
|
|
|
2017
|
|
|
|
|
|
|
|
|
Q2
|
|
Q3
|
|
PHARMACEUTICAL
SEGMENT(1)
|
|
|
|
|
|
PULMONARY
HYPERTENSION
|
|
|
|
|
|
US
|
|
37
|
|
371
|
|
Intl
|
|
48
|
|
261
|
|
WW
|
|
85
|
|
632
|
|
OTHER(2)
|
|
|
|
|
|
US
|
|
3
|
|
25
|
|
Intl
|
|
2
|
|
14
|
|
WW
|
|
5
|
|
39
|
|
|
|
|
|
|
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
US
|
|
1,214
|
|
1,179
|
|
Intl
|
|
391
|
|
406
|
|
WW
|
|
1,605
|
|
1,585
|
|
OTHER(3)
|
|
|
|
|
|
US
|
|
142
|
|
156
|
|
Intl
|
|
271
|
|
291
|
|
WW
|
|
413
|
|
447
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
Unaudited
|
|
|
|
|
|
(2) All non-PAH
Actelion products removed; Previously included All Other PAH &
Non-PAH products.
|
(3) Includes Actelion
non-PAH products; Previously included in Pulmonary Hypertension
Other.
|
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multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2017-fourth-quarter-results-300586431.html
SOURCE Johnson & Johnson