NEW BRUNSWICK, N.J.,
Jan. 22, 2019 /PRNewswire/ -- Johnson
& Johnson (NYSE: JNJ) today announced sales of $20.4 billion for the fourth quarter of 2018, an
increase of 1.0% as compared to the fourth quarter of 2017.
Operational sales results increased 3.3% and the negative impact of
currency was 2.3%. Domestic sales increased 1.5%. International
sales increased 0.4%, reflecting operational growth of 5.1% and a
negative currency impact of 4.7%. Excluding the net impact of
acquisitions and divestitures, on an operational basis, worldwide
sales for the fourth quarter of 2018 increased 5.3%, domestic sales
increased 2.6% and international sales increased
8.3%.*
Worldwide sales for the full-year 2018 were $81.6 billion, an increase of 6.7% versus 2017.
Operational results increased 6.3% and the positive impact of
currency was 0.4%. Domestic sales increased 5.1%. International
sales increased 8.5%, reflecting operational growth of 7.7% 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 2018 increased 5.5%, domestic sales
increased 3.4% and international sales increased
7.8%.*
Net earnings and diluted earnings per share for the fourth
quarter of 2018 were $3.0 billion and
$1.12, respectively. Fourth-quarter
2018 net earnings included after-tax intangible amortization
expense of approximately $1.0 billion
and a net charge for after-tax special items of approximately
$1.4 billion.
Fourth-quarter 2017 net earnings 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 was the provisional
amount of approximately $13.6 billion
associated with the enactment of tax legislation. Excluding
after-tax intangible amortization expense and special items,
adjusted net earnings for the current quarter were $5.4 billion and adjusted diluted earnings per
share were $1.97, representing
increases of 12.5% and 13.2%, respectively, as compared to the same
period in 2017.* On an operational basis, adjusted
diluted earnings per share increased 16.1%.* A
reconciliation of non-GAAP financial measures is included as an
accompanying schedule.
Net earnings and diluted earnings per share for the full-year
2018 were $15.3 billion and
$5.61, respectively. Full-year
net earnings included after-tax intangible amortization expense of
approximately $3.9 billion and a net
charge for after-tax special items of approximately $3.1 billion. Full-year 2017 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 was a provisional amount of approximately $13.6 billion associated with the enactment of
tax legislation. Excluding after-tax intangible amortization
expense and special items, adjusted net earnings for the full-year
of 2018 were $22.3 billion and
adjusted diluted earnings per share were $8.18, representing increases of 11.4% and 12.1%,
respectively, as compared to the same period in 2017.*
On an operational basis, adjusted diluted earnings per share also
increased 10.4%.* A reconciliation of non-GAAP financial
measures is included as an accompanying schedule.
"Johnson & Johnson delivered another year of strong
operational sales growth of 6.3% and achieved our 35th consecutive
year of adjusted operational earnings growth at 9.8% in 2018. This
can be attributed to accelerated underlying sales performance
across each of our businesses, where we also leveraged our scale
across the enterprise to improve margins," said Alex Gorsky, Chairman and Chief Executive
Officer. "Looking ahead, the strength of our broad-based
business and disciplined approach to portfolio management positions
us to continue to fuel investments in innovation that enable us to
capitalize on strategic opportunities and deliver strong
performance over the long-term."
Mr. Gorsky continued, "Our performance is the result of our
talented Johnson & Johnson colleagues and their extraordinary
dedication to help advance health and well-being for patients and
customers around the world."
In December, the Company announced a share repurchase program of
up to $5.0 billion of the Company's
common stock. Repurchases may be made at management's discretion
from time to time on the open market or through privately
negotiated transactions. The repurchase program has no time limit
and may be suspended for periods or discontinued at any time.
The Company announced its 2019 full-year guidance for sales of
$80.4 billion to $81.2 billion reflecting expected operational
growth in the range of 0.0% to 1.0% and expected adjusted
operational growth in the range of 2.0% to 3.0%. The Company also
announced adjusted earnings guidance for full-year 2019 of
$8.50 to $8.65 per share reflecting expected operational
growth in the range of 5.7% to 7.6%.* Adjusted earnings
guidance excludes the impact of after-tax intangible amortization
expense and special items.
Segment Sales Performance
Worldwide Consumer sales of $13.9
billion for the full-year 2018 represented an increase of
1.8% versus the prior year, consisting of an operational increase
of 2.2% and a negative impact from currency of 0.4%. Domestic sales
increased 3.5%; international sales increased 0.7%, which reflected
an operational increase of 1.4% and a negative currency impact of
0.7%. Excluding the net impact of acquisitions and divestitures, on
an operational basis, worldwide sales increased 3.2%, domestic
sales increased 3.1% and international sales increased
3.3%*.
Worldwide operational results, excluding the net impact of
acquisitions and divestitures, were driven by growth in
over-the-counter products, including TYLENOL and MOTRIN analgesics
and digestive health products; NEUTROGENA and OGX beauty products;
and LISTERINE oral care products. Subsequent to the quarter,
the Company announced the completion of the acquisition of Ci:z
Holdings Co., Ltd., which markets the DR.CI:LABO, LABO LABO
and GENOMER line of skincare products.
Worldwide Pharmaceutical sales of $40.7
billion for the full-year 2018 represented an increase of
12.4% versus the prior year with an operational increase of 11.8%
and a positive impact from currency of 0.6%. Domestic sales
increased 8.4%; international sales increased 18.0%, which
reflected an operational increase of 16.5% and a positive currency
impact of 1.5%. Sales included the impact of Actelion Ltd which
contributed 3.4%, to worldwide operational sales growth. Excluding
the net impact of acquisitions and divestitures, on an operational
basis, worldwide sales increased 8.4%, domestic sales increased
4.9% and international sales increased 13.5%.*
Worldwide operational results, excluding the net impact of
acquisitions and divestitures, were driven by STELARA (ustekinumab)
and SIMPONI/SIMPONI ARIA (golimumab), biologics for the treatment
of a number of immune-mediated inflammatory diseases, ZYTIGA
(abiraterone acetate), an oral, once-daily medication for use in
combination with prednisone for the treatment of metastatic,
castration-resistant prostate cancer, 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, TREMFYA (guselkumab), for the treatment of adults living
with moderate to severe plaque psoriasis,
INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA
(paliperidone palmitate), a long-acting, injectable atypical
antipsychotics for the treatment of schizophrenia in adults,
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 an additional indication for INVOKANA (canagliflozin) to
reduce the risk of major adverse cardiovascular (CV) events,
including heart attack, stroke or death due to a cardiovascular
cause in adults with type 2 diabetes who have established CV
disease. In addition, the European Commission approved apalutamide,
a next generation oral androgen receptor inhibitor for the
treatment of adult patients with non-metastatic
castration-resistant prostate cancer (nmCRPC) who are at high risk
of developing metastatic disease.
A supplemental Biologics License Application was submitted to
the FDA and a Type II Variation Application was submitted to
European Medicines Agency (EMA) seeking approval of STELARA
(ustekinumab) for the treatment of adults with moderately to
severely active ulcerative colitis. A supplemental New Drug
Application was submitted to the FDA seeking to broaden the use of
XARELTO (rivaroxaban) for the prevention of venous thromboembolism
(VTE), or blood clots, in medically ill patients. Two Type II
Variation Applications were submitted to EMA for the expanded use
of IMBRUVICA (ibrutinib) in combination with obinutuzumab in
previously untreated adults with chronic lymphocytic leukemia and
in combination with rituximab for the treatment of previously
untreated and relapsed/refractory adults with Waldenström's
macroglobulinemia.
Additionally, the Company entered into a worldwide collaboration
and license agreement with argenx BVBA and argenx SE to develop and
commercialize cusatuzumab (ARGX-110), an investigational
therapeutic antibody that targets CD70, an immune checkpoint
implicated in numerous cancers, including hematological
malignancies.
Worldwide Medical Devices sales of $27.0
billion for the full-year 2018 represented an increase of
1.5% versus the prior year consisting of an operational increase of
1.1% and a positive currency impact of 0.4%. Domestic sales
increased 0.1%; international sales increased 2.8%, which reflected
an operational increase of 1.9% and a positive currency impact of
0.9%. Sales included the impact of the divestiture of its Lifescan
business which negatively impacted worldwide operational sales
growth by 1.4%. Excluding the net impact of acquisitions and
divestitures, on an operational basis, worldwide sales increased
2.6%, domestic sales increased 1.0% and international sales
increased 4.0%.*
Worldwide operational results, excluding the net impact of
acquisitions and divestitures, were driven by electrophysiology
products in the Interventional Solutions business; ACUVUE contact
lenses and surgical products in the Vision business; wound closure
products in the General Surgery business; along with endocutters
and biosurgicals in the Advanced Surgery 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.
Johnson & Johnson will conduct a conference call with
investors to discuss this news release today at 8:30 a.m., Eastern Time. A simultaneous webcast
of the call for investors and other interested parties may be
accessed by visiting the Johnson & Johnson website at
www.investor.jnj.com. A replay and podcast will be available
approximately two hours after the live webcast by visiting
www.investor.jnj.com.
Copies of the financial schedules accompanying this press
release are available at www.investor.jnj.com/historical-sales.cfm.
These schedules include supplementary sales data, a condensed
consolidated statement of earnings, reconciliations of non-GAAP
financial measures, and sales of key products/franchises.
Additional information on Johnson & Johnson, including adjusted
income before tax by segment, a pharmaceutical pipeline of selected
compounds in late stage development and a copy of today's earnings
call presentation can be found on the company's website at
www.investor.jnj.com.
NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995
regarding, among other things: future operating and financial
performance, product development, market position and business
strategy. The reader is cautioned not to rely on these
forward-looking statements. These statements are based on current
expectations of future events. If underlying assumptions prove
inaccurate or known or unknown risks or uncertainties materialize,
actual results could vary materially from the expectations and
projections of Johnson & Johnson. Risks and uncertainties
include, but are not limited to: economic factors, such as interest
rate and currency exchange rate fluctuations; competition,
including technological advances, new products and patents attained
by competitors; challenges inherent in new product research and
development, including unexpected clinical trial results,
additional analysis of existing clinical data, uncertainty of
clinical success and obtaining regulatory approvals; uncertainty of
commercial success for new and existing products; the impact of
business combinations and divestitures; challenges to patents; the
impact of patent expirations; the ability of the company to
successfully execute strategic plans, including restructuring
plans; 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, global health care reforms and import/export
and trade laws; 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 31,
2017, 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 in 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.
(Unaudited; Dollars
in Millions)
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2018
|
|
2017
|
|
Total
|
|
Operations
|
|
Currency
|
|
2018
|
|
2017
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
segment of
business
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
1,479
|
|
1,379
|
|
7.3
|
%
|
7.3
|
|
-
|
|
$
5,761
|
|
5,565
|
|
3.5
|
%
|
3.5
|
|
-
|
International
|
2,057
|
|
2,161
|
|
(4.8)
|
|
0.8
|
|
(5.6)
|
|
8,092
|
|
8,037
|
|
0.7
|
|
1.4
|
|
(0.7)
|
|
3,536
|
|
3,540
|
|
(0.1)
|
|
3.3
|
|
(3.4)
|
|
13,853
|
|
13,602
|
|
1.8
|
|
2.2
|
|
(0.4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceutical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
5,936
|
|
5,776
|
|
2.8
|
|
2.8
|
|
-
|
|
23,286
|
|
21,474
|
|
8.4
|
|
8.4
|
|
-
|
International
|
4,254
|
|
3,905
|
|
8.9
|
|
13.7
|
|
(4.8)
|
|
17,448
|
|
14,782
|
|
18.0
|
|
16.5
|
|
1.5
|
|
10,190
|
|
9,681
|
|
5.3
|
|
7.2
|
|
(1.9)
|
|
40,734
|
|
36,256
|
|
12.4
|
|
11.8
|
|
0.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Medical
Devices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
3,214
|
|
3,314
|
|
(3.0)
|
|
(3.0)
|
|
-
|
|
12,837
|
|
12,824
|
|
0.1
|
|
0.1
|
|
-
|
International
|
3,454
|
|
3,660
|
|
(5.6)
|
|
(1.4)
|
|
(4.2)
|
|
14,157
|
|
13,768
|
|
2.8
|
|
1.9
|
|
0.9
|
|
6,668
|
|
6,974
|
|
(4.4)
|
|
(2.2)
|
|
(2.2)
|
|
26,994
|
|
26,592
|
|
1.5
|
|
1.1
|
|
0.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
10,629
|
|
10,469
|
|
1.5
|
|
1.5
|
|
-
|
|
41,884
|
|
39,863
|
|
5.1
|
|
5.1
|
|
-
|
International
|
9,765
|
|
9,726
|
|
0.4
|
|
5.1
|
|
(4.7)
|
|
39,697
|
|
36,587
|
|
8.5
|
|
7.7
|
|
0.8
|
Worldwide
|
$
20,394
|
|
20,195
|
|
1.0
|
%
|
3.3
|
|
(2.3)
|
|
$
81,581
|
|
76,450
|
|
6.7
|
%
|
6.3
|
|
0.4
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplementary
Sales Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; Dollars
in Millions)
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
Percent
Change
|
|
|
|
|
|
Percent
Change
|
|
2018
|
|
2017
|
|
Total
|
|
Operations
|
|
Currency
|
|
2018
|
|
2017
|
|
Total
|
|
Operations
|
|
Currency
|
Sales to customers
by
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
geographic
area
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S.
|
$
10,629
|
|
10,469
|
|
1.5
|
%
|
1.5
|
|
-
|
|
$
41,884
|
|
39,863
|
|
5.1
|
%
|
5.1
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Europe
|
4,730
|
|
4,728
|
|
0.0
|
|
3.9
|
|
(3.9)
|
|
18,753
|
|
17,126
|
|
9.5
|
|
6.2
|
|
3.3
|
Western Hemisphere
excluding U.S.
|
1,456
|
|
1,519
|
|
(4.1)
|
|
7.7
|
|
(11.8)
|
|
6,113
|
|
6,041
|
|
1.2
|
|
8.2
|
|
(7.0)
|
Asia-Pacific,
Africa
|
3,579
|
|
3,479
|
|
2.9
|
|
5.8
|
|
(2.9)
|
|
14,831
|
|
13,420
|
|
10.5
|
|
9.4
|
|
1.1
|
International
|
9,765
|
|
9,726
|
|
0.4
|
|
5.1
|
|
(4.7)
|
|
39,697
|
|
36,587
|
|
8.5
|
|
7.7
|
|
0.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide
|
$
20,394
|
|
20,195
|
|
1.0
|
%
|
3.3
|
|
(2.3)
|
|
$
81,581
|
|
76,450
|
|
6.7
|
%
|
6.3
|
|
0.4
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
FOURTH
QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
2017*
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
20,394
|
|
100.0
|
|
$
20,195
|
|
100.0
|
|
1.0
|
Cost of products
sold
|
6,961
|
|
34.1
|
|
7,259
|
|
36.0
|
|
(4.1)
|
Gross
Profit
|
13,433
|
|
65.9
|
|
12,936
|
|
64.0
|
|
3.8
|
Selling, marketing
and administrative expenses
|
5,991
|
|
29.4
|
|
6,045
|
|
29.9
|
|
(0.9)
|
Research and
development expense
|
3,224
|
|
15.8
|
|
3,643
|
|
18.1
|
|
(11.5)
|
In-process
research and development
|
-
|
|
-
|
|
408
|
|
2.0
|
|
|
Interest (income)
expense, net
|
54
|
|
0.3
|
|
189
|
|
0.9
|
|
|
Other (income)
expense, net
|
978
|
|
4.8
|
|
(53)
|
|
(0.3)
|
|
|
Restructuring
|
64
|
|
0.3
|
|
144
|
|
0.7
|
|
|
Earnings before
provision for taxes on income
|
3,122
|
|
15.3
|
|
2,560
|
|
12.7
|
|
22.0
|
Provision for
taxes on income
|
80
|
|
0.4
|
|
13,273
|
|
65.7
|
|
N/M
|
Net
earnings/(Loss)
|
$
3,042
|
|
14.9
|
|
$
(10,713)
|
|
(53.0)
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
Net
earnings/(Loss) per share (Diluted/Basic)**
|
$
1.12
|
|
|
|
$
(3.99)
|
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted/Basic)**
|
2,724.0
|
|
|
|
2,684.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
2.6
|
%
|
|
|
518.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
6,046
|
|
29.6
|
|
$
5,251
|
|
26.0
|
|
15.1
|
Net
earnings
|
$
5,372
|
|
26.3
|
|
$
4,777
|
|
23.7
|
|
12.5
|
Net earnings per
share (Diluted)
|
$
1.97
|
|
|
|
$
1.74
|
|
|
|
13.2
|
Average shares outstanding (Diluted)***
|
2,724.0
|
|
|
|
2,740.7
|
|
|
|
|
Effective tax
rate
|
11.1
|
%
|
|
|
9.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 2017 Statement of
Earnings line items have been restated to reflect impact of ASU
2017-07
|
|
|
|
|
|
|
|
|
** In 2017 basic
shares are used to calculate loss per share as use of diluted
shares when in a loss position would be
anti-dilutive
|
|
|
|
|
*** In 2017
difference of 55.8 shares due to anti-dilutive impact on net loss
position
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
N/M = Not
Meaningful
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
Condensed
Consolidated Statement of Earnings
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited; in
Millions Except Per Share Figures)
|
TWELVE
MONTHS
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
2017*
|
|
Percent
|
|
|
|
Percent
|
|
|
|
Percent
|
|
Increase
|
|
Amount
|
|
to
Sales
|
|
Amount
|
|
to
Sales
|
|
(Decrease)
|
Sales to
customers
|
$
81,581
|
|
100.0
|
|
$
76,450
|
|
100.0
|
|
6.7
|
Cost of products
sold
|
27,091
|
|
33.2
|
|
25,439
|
|
33.3
|
|
6.5
|
Gross
Profit
|
54,490
|
|
66.8
|
|
51,011
|
|
66.7
|
|
6.8
|
Selling, marketing
and administrative expenses
|
22,540
|
|
27.6
|
|
21,520
|
|
28.1
|
|
4.7
|
Research and
development expense
|
10,775
|
|
13.2
|
|
10,594
|
|
13.9
|
|
1.7
|
In-process
research and development
|
1,126
|
|
1.4
|
|
408
|
|
0.6
|
|
|
Interest (income)
expense, net
|
394
|
|
0.5
|
|
549
|
|
0.7
|
|
|
Other (income)
expense, net
|
1,405
|
|
1.7
|
|
(42)
|
|
(0.1)
|
|
|
Restructuring
|
251
|
|
0.3
|
|
309
|
|
0.4
|
|
|
Earnings before
provision for taxes on income
|
17,999
|
|
22.1
|
|
17,673
|
|
23.1
|
|
1.8
|
Provision for
taxes on income
|
2,702
|
|
3.3
|
|
16,373
|
|
21.4
|
|
N/M
|
Net
earnings
|
$
15,297
|
|
18.8
|
|
$
1,300
|
|
1.7
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
Net earnings per
share (Diluted)
|
$
5.61
|
|
|
|
$
0.47
|
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
Average shares
outstanding (Diluted)
|
2,728.7
|
|
|
|
2,745.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax
rate
|
15.0
|
%
|
|
|
92.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted earnings
before provision for taxes and net earnings
(1)
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income
|
$
26,698
|
|
32.7
|
|
$
24,212
|
|
31.7
|
|
10.3
|
Net
earnings
|
$
22,315
|
|
27.4
|
|
$
20,040
|
|
26.2
|
|
11.4
|
Net earnings per
share (Diluted)
|
$
8.18
|
|
|
|
$
7.30
|
|
|
|
12.1
|
Effective tax
rate
|
16.4
|
%
|
|
|
17.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* 2017 Statement of
Earnings line items have been restated to reflect impact of ASU
2017-07
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)See
Reconciliation of Non-GAAP Financial Measures.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
N/M = Not
Meaningful
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fourth
Quarter
|
|
% Incr. /
|
|
|
Twelve
Months
|
|
% Incr. /
|
|
|
(Dollars in
Millions Except Per Share Data)
|
|
2018
|
|
2017
|
|
(Decr.)
|
|
|
2018
|
|
2017
|
|
(Decr.)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
provision for taxes on income - as reported
|
$
3,122
|
|
2,560
|
|
22.0
|
%
|
|
$ 17,999
|
|
17,673
|
|
1.8
|
%
|
|
Intangible asset
amortization expense
|
|
1,073
|
|
1,077
|
|
|
|
|
4,357
|
|
2,963
|
|
|
|
|
Litigation expense,
net
|
|
1,288
|
|
645
|
|
|
|
|
1,991
|
|
1,256
|
|
|
|
|
Actelion acquisition
related cost
|
|
43
|
|
217
|
|
|
|
|
243
|
|
797
|
|
|
|
|
Restructuring/Other(1)
|
|
227
|
|
284
|
|
|
|
|
700
|
|
760
|
|
|
|
|
In-process research
and development
|
|
-
|
|
408
|
|
|
|
|
1,126
|
|
408
|
|
|
|
|
Diabetes asset
impairment
|
|
-
|
|
35
|
|
|
|
|
4
|
|
215
|
|
|
|
|
AMO acquisition
related cost
|
|
27
|
|
25
|
|
|
|
|
109
|
|
140
|
|
|
|
|
Contingent liability
reversal
|
|
-
|
|
-
|
|
|
|
|
(184)
|
|
-
|
|
|
|
|
Unrealized
loss/(gain) on securities
|
|
182
|
|
-
|
|
|
|
|
179
|
|
-
|
|
|
|
|
Impact of tax
legislation
|
|
72
|
|
-
|
|
|
|
|
72
|
|
-
|
|
|
|
|
Other
|
|
12
|
|
-
|
|
|
|
|
102
|
|
-
|
|
|
|
|
Earnings before
provision for taxes on income - as adjusted
|
$
6,046
|
|
5,251
|
|
15.1
|
%
|
|
$ 26,698
|
|
24,212
|
|
10.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Earnings/(Loss) -
as reported
|
|
$
3,042
|
|
(10,713)
|
|
N/M
|
%
|
|
$ 15,297
|
|
1,300
|
|
N/M
|
%
|
|
Intangible asset
amortization expense
|
|
957
|
|
926
|
|
|
|
|
3,888
|
|
2,481
|
|
|
|
|
Litigation expense,
net
|
|
1,113
|
|
506
|
|
|
|
|
1,722
|
|
955
|
|
|
|
|
Actelion acquisition
related cost
|
|
39
|
|
313
|
|
|
|
|
232
|
|
767
|
|
|
|
|
Restructuring/Other
|
|
190
|
|
237
|
|
|
|
|
585
|
|
595
|
|
|
|
|
In-process research
and development
|
|
-
|
|
266
|
|
|
|
|
859
|
|
266
|
|
|
|
|
Diabetes asset
impairment
|
|
-
|
|
(116)
|
|
|
|
|
3
|
|
4
|
|
|
|
|
AMO acquisition
related cost
|
|
21
|
|
(198)
|
|
|
|
|
89
|
|
116
|
|
|
|
|
Contingent liability
reversal
|
|
-
|
|
-
|
|
|
|
|
(184)
|
|
-
|
|
|
|
|
Unrealized
loss/(gain) on securities
|
|
143
|
|
-
|
|
|
|
|
141
|
|
-
|
|
|
|
|
Impact of tax
legislation(2)
|
|
(137)
|
|
13,556
|
|
|
|
|
(390)
|
|
13,556
|
|
|
|
|
Other
|
|
4
|
|
-
|
|
|
|
|
73
|
|
-
|
|
|
|
|
Net Earnings - as
adjusted
|
|
$
5,372
|
|
4,777
|
|
12.5
|
%
|
|
$ 22,315
|
|
20,040
|
|
11.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational
Increase
|
|
|
|
|
|
15.4
|
%
|
|
|
|
|
|
9.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Currency
Increase/(Decrease)
|
|
|
|
|
|
(2.9)
|
%
|
|
|
|
|
|
1.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted Net
Earnings/(Loss) per share - as reported
|
|
$
1.12
|
|
(3.99)
|
|
N/M
|
%
|
|
$
5.61
|
|
0.47
|
|
N/M
|
%
|
|
Dilutive impact of
shares excluded due to net loss position
|
-
|
|
0.08
|
|
|
|
|
-
|
|
-
|
|
|
|
|
Intangible asset
amortization expense
|
|
0.35
|
|
0.34
|
|
|
|
|
1.42
|
|
0.90
|
|
|
|
|
Litigation expense,
net
|
|
0.41
|
|
0.19
|
|
|
|
|
0.63
|
|
0.35
|
|
|
|
|
Actelion acquisition
related cost
|
|
0.01
|
|
0.11
|
|
|
|
|
0.09
|
|
0.28
|
|
|
|
|
Restructuring/Other
|
|
0.07
|
|
0.08
|
|
|
|
|
0.21
|
|
0.22
|
|
|
|
|
In-process research
and development
|
|
-
|
|
0.10
|
|
|
|
|
0.32
|
|
0.10
|
|
|
|
|
Diabetes asset
impairment
|
|
-
|
|
(0.04)
|
|
|
|
|
-
|
|
-
|
|
|
|
|
AMO acquisition
related cost
|
|
0.01
|
|
(0.07)
|
|
|
|
|
0.03
|
|
0.04
|
|
|
|
|
Contingent liability
reversal
|
|
-
|
|
-
|
|
|
|
|
(0.07)
|
|
-
|
|
|
|
|
Unrealized
loss/(gain) on securities
|
|
0.05
|
|
-
|
|
|
|
|
0.05
|
|
-
|
|
|
|
|
Impact of tax
legislation
|
|
(0.05)
|
|
4.94
|
|
|
|
|
(0.14)
|
|
4.94
|
|
|
|
|
Other
|
|
-
|
|
-
|
|
|
|
|
0.03
|
|
-
|
|
|
|
|
Diluted Net Earnings
per share - as adjusted
|
|
$
1.97
|
|
1.74
|
|
13.2
|
%
|
|
$
8.18
|
|
7.30
|
|
12.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted
at 2016 foreign currency exchange rates
|
|
|
|
1.67
|
|
|
|
|
|
|
7.24
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impact of currency at
2017 foreign currency exchange rates
|
0.05
|
|
0.07
|
|
|
|
|
(0.12)
|
|
0.06
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Diluted
Net Earnings per share - as adjusted
at 2017 foreign currency exchange rates
|
|
$
2.02
|
|
1.74
|
|
16.1
|
%
|
|
$
8.06
|
|
7.30
|
|
10.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Includes $32M
recorded in cost of products sold and $131M recorded in other
(income) expense for the fourth quarter 2018, and $42M recorded in
cost of products sold
|
and $98M recorded in other
(income) expense for the fourth quarter 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Includes $105M recorded in
cost of products sold and $344M recorded in other (income) expense
for twelve months YTD 2018, and $88M recorded in cost of products
sold
|
and $363M recorded in other
(income) expense for twelve months YTD 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Includes foreign
currency translation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
N/M = Not
Meaningful
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Johnson &
Johnson and Subsidiaries
|
|
|
|
|
|
|
|
|
Reconciliation of
Non-GAAP Financial Measure
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operational Sales
Growth Excluding Acquisitions and Divestitures
|
FOURTH
QUARTER 2018 ACTUAL vs. 2017 ACTUAL
|
|
Segments
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(1)
|
|
|
|
|
|
|
|
|
|
WW As
Reported:
|
|
3.3%
|
|
7.2%
|
|
(2.2)%
|
|
3.3%
|
U.S.
|
|
7.3%
|
|
2.8%
|
|
(3.0)%
|
|
1.5%
|
International
|
|
0.8%
|
|
13.7%
|
|
(1.4)%
|
|
5.1%
|
|
|
|
|
|
|
|
|
|
Wound Care /
Other
|
|
|
|
|
|
|
|
|
Compeed
|
|
0.7
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
1.2
|
|
|
|
|
|
0.3
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Nizoral
|
|
0.6
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.4
|
|
|
|
|
|
0.0
|
International
|
|
0.8
|
|
|
|
|
|
0.2
|
|
|
|
|
|
|
|
|
|
OTC
|
|
|
|
|
|
|
|
|
Zarbees
|
|
(0.8)
|
|
|
|
|
|
(0.1)
|
U.S.
|
|
(2.2)
|
|
|
|
|
|
(0.2)
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Diabetes
Care
|
|
|
|
|
|
|
|
|
LifeScan
|
|
|
|
|
|
5.3
|
|
1.9
|
U.S.
|
|
|
|
|
|
3.7
|
|
1.2
|
International
|
|
|
|
|
|
6.8
|
|
2.7
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.0
|
|
0.0
|
|
0.2
|
|
0.0
|
U.S.
|
|
0.0
|
|
0.0
|
|
0.3
|
|
0.1
|
International
|
|
0.0
|
|
0.0
|
|
0.0
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
3.8%
|
|
7.2%
|
|
3.3%
|
|
5.3%
|
U.S.
|
|
5.5%
|
|
2.8%
|
|
1.0%
|
|
2.6%
|
International
|
|
2.8%
|
|
13.7%
|
|
5.4%
|
|
8.3%
|
|
|
|
|
|
|
|
|
|
(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 2018 ACTUAL vs. 2017 ACTUAL
|
|
Segments
|
|
|
Consumer
|
|
Pharmaceutical
|
|
Medical
Devices
|
|
Total
|
|
|
Operational %
(1)
|
|
|
|
|
|
|
|
|
|
WW As
Reported:
|
|
2.2%
|
|
11.8%
|
|
1.1%
|
|
6.3%
|
U.S.
|
|
3.5%
|
|
8.4%
|
|
0.1%
|
|
5.1%
|
International
|
|
1.4%
|
|
16.5%
|
|
1.9%
|
|
7.7%
|
|
|
|
|
|
|
|
|
|
Pulmonary
Hypertension
|
|
|
|
|
|
|
|
|
Actelion
|
|
|
|
(3.2)
|
|
|
|
(1.5)
|
U.S.
|
|
|
|
(3.4)
|
|
|
|
(1.8)
|
International
|
|
|
|
(2.8)
|
|
|
|
(1.1)
|
|
|
|
|
|
|
|
|
|
Cardiovascular /
Metabolism / Other
|
|
|
|
|
|
|
|
|
Actelion
|
|
|
|
(0.2)
|
|
|
|
(0.1)
|
U.S.
|
|
|
|
(0.1)
|
|
|
|
(0.1)
|
International
|
|
|
|
(0.2)
|
|
|
|
(0.1)
|
|
|
|
|
|
|
|
|
|
Spine &
Other
|
|
|
|
|
|
|
|
|
Codman
Neuroscience
|
|
|
|
|
|
0.7
|
|
0.3
|
U.S.
|
|
|
|
|
|
0.5
|
|
0.2
|
International
|
|
|
|
|
|
1.1
|
|
0.4
|
|
|
|
|
|
|
|
|
|
Wound Care /
Other
|
|
|
|
|
|
|
|
|
Compeed
|
|
0.9
|
|
|
|
|
|
0.2
|
U.S.
|
|
0.0
|
|
|
|
|
|
0.0
|
International
|
|
1.4
|
|
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
|
Vision
|
|
|
|
|
|
|
|
|
Vision Surgical
& Eye Health Business
|
|
|
|
|
|
(0.7)
|
|
(0.3)
|
U.S.
|
|
|
|
|
|
(0.7)
|
|
(0.2)
|
International
|
|
|
|
|
|
(0.8)
|
|
(0.3)
|
|
|
|
|
|
|
|
|
|
Beauty
|
|
|
|
|
|
|
|
|
Nizoral
|
|
0.3
|
|
|
|
|
|
0.1
|
U.S.
|
|
0.2
|
|
|
|
|
|
0.0
|
International
|
|
0.4
|
|
|
|
|
|
0.1
|
|
|
|
|
|
|
|
|
|
OTC
|
|
|
|
|
|
|
|
|
Zarbees
|
|
(0.3)
|
|
|
|
|
|
0.0
|
U.S.
|
|
(0.6)
|
|
|
|
|
|
(0.1)
|
International
|
|
0.0
|
|
|
|
|
|
0.0
|
|
|
|
|
|
|
|
|
|
Diabetes
Care
|
|
|
|
|
|
|
|
|
LifeScan
|
|
|
|
|
|
1.4
|
|
0.5
|
U.S.
|
|
|
|
|
|
0.9
|
|
0.3
|
International
|
|
|
|
|
|
1.8
|
|
0.7
|
|
|
|
|
|
|
|
|
|
All Other
Acquisitions and Divestitures
|
|
0.1
|
|
0.0
|
|
0.1
|
|
0.0
|
U.S.
|
|
0.0
|
|
0.0
|
|
0.2
|
|
0.0
|
International
|
|
0.1
|
|
0.0
|
|
0.0
|
|
0.0
|
|
|
|
|
|
|
|
|
|
WW Ops excluding
Acquisitions and Divestitures
|
|
3.2%
|
|
8.4%
|
|
2.6%
|
|
5.5%
|
U.S.
|
|
3.1%
|
|
4.9%
|
|
1.0%
|
|
3.4%
|
International
|
|
3.3%
|
|
13.5%
|
|
4.0%
|
|
7.8%
|
|
|
|
|
|
|
|
|
|
(1)Operational growth excludes the effect
of translational currency
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2018
|
|
2017
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2018
|
|
2017
|
Reported
|
Operational
(1)
|
Currency
|
CONSUMER SEGMENT
(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BABY CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
116
|
|
$
123
|
-5.7%
|
-5.7%
|
-
|
|
|
$
422
|
|
$
449
|
-6.0%
|
-6.0%
|
-
|
Intl
|
|
357
|
|
367
|
-2.7%
|
4.8%
|
-7.5%
|
|
|
1,436
|
|
1,467
|
-2.1%
|
0.8%
|
-2.9%
|
WW
|
|
473
|
|
490
|
-3.5%
|
2.1%
|
-5.6%
|
|
|
1,858
|
|
1,916
|
-3.0%
|
-0.8%
|
-2.2%
|
BEAUTY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
612
|
|
596
|
2.7%
|
2.7%
|
-
|
|
|
2,403
|
|
2,335
|
2.9%
|
2.9%
|
-
|
Intl
|
|
499
|
|
514
|
-2.9%
|
2.4%
|
-5.3%
|
|
|
1,979
|
|
1,865
|
6.1%
|
6.2%
|
-0.1%
|
WW
|
|
1,111
|
|
1,110
|
0.1%
|
2.5%
|
-2.4%
|
|
|
4,382
|
|
4,200
|
4.3%
|
4.4%
|
-0.1%
|
ORAL CARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
165
|
|
156
|
5.8%
|
5.8%
|
-
|
|
|
637
|
|
616
|
3.4%
|
3.4%
|
-
|
Intl
|
|
234
|
|
237
|
-1.3%
|
3.5%
|
-4.8%
|
|
|
918
|
|
915
|
0.3%
|
0.5%
|
-0.2%
|
WW
|
|
399
|
|
393
|
1.5%
|
4.4%
|
-2.9%
|
|
|
1,555
|
|
1,531
|
1.6%
|
1.7%
|
-0.1%
|
OTC
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
491
|
|
406
|
20.9%
|
20.9%
|
-
|
|
|
1,850
|
|
1,716
|
7.8%
|
7.8%
|
-
|
Intl
|
|
657
|
|
699
|
-6.0%
|
-2.0%
|
-4.0%
|
|
|
2,484
|
|
2,410
|
3.1%
|
2.1%
|
1.0%
|
WW
|
|
1,148
|
|
1,105
|
3.9%
|
6.4%
|
-2.5%
|
|
|
4,334
|
|
4,126
|
5.0%
|
4.4%
|
0.6%
|
WOMEN'S
HEALTH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3
|
|
3
|
0.0%
|
0.0%
|
-
|
|
|
13
|
|
12
|
8.3%
|
8.3%
|
-
|
Intl
|
|
254
|
|
259
|
-1.9%
|
7.9%
|
-9.8%
|
|
|
1,036
|
|
1,038
|
-0.2%
|
3.5%
|
-3.7%
|
WW
|
|
257
|
|
262
|
-1.9%
|
7.8%
|
-9.7%
|
|
|
1,049
|
|
1,050
|
-0.1%
|
3.5%
|
-3.6%
|
WOUND CARE /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
92
|
|
95
|
-3.2%
|
-3.2%
|
-
|
|
|
436
|
|
437
|
-0.2%
|
-0.2%
|
-
|
Intl
|
|
56
|
|
85
|
-34.1%
|
-31.2%
|
-2.9%
|
|
|
239
|
|
342
|
-30.1%
|
-30.2%
|
0.1%
|
WW
|
|
148
|
|
180
|
-17.8%
|
-16.4%
|
-1.4%
|
|
|
675
|
|
779
|
-13.4%
|
-13.5%
|
0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
CONSUMER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,479
|
|
1,379
|
7.3%
|
7.3%
|
-
|
|
|
5,761
|
|
5,565
|
3.5%
|
3.5%
|
-
|
Intl
|
|
2,057
|
|
2,161
|
-4.8%
|
0.8%
|
-5.6%
|
|
|
8,092
|
|
8,037
|
0.7%
|
1.4%
|
-0.7%
|
WW
|
|
$
3,536
|
|
$
3,540
|
-0.1%
|
3.3%
|
-3.4%
|
|
|
$
13,853
|
|
$
13,602
|
1.8%
|
2.2%
|
-0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2018
|
|
2017
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2018
|
|
2017
|
Reported
|
Operational
(1)
|
Currency
|
PHARMACEUTICAL
SEGMENT (2)(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IMMUNOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
2,356
|
|
$
2,227
|
5.8%
|
5.8%
|
-
|
|
|
$
9,073
|
|
$
8,871
|
2.3%
|
2.3%
|
-
|
Intl
|
|
986
|
|
859
|
14.8%
|
19.8%
|
-5.0%
|
|
|
4,047
|
|
3,373
|
20.0%
|
18.9%
|
1.1%
|
WW
|
|
3,342
|
|
3,086
|
8.3%
|
9.7%
|
-1.4%
|
|
|
13,120
|
|
12,244
|
7.2%
|
6.9%
|
0.3%
|
REMICADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
843
|
|
1,073
|
-21.4%
|
-21.4%
|
-
|
|
|
3,664
|
|
4,525
|
-19.0%
|
-19.0%
|
-
|
US Exports
(3)
|
|
90
|
|
115
|
-21.7%
|
-21.7%
|
-
|
|
|
436
|
|
563
|
-22.6%
|
-22.6%
|
-
|
Intl
|
|
305
|
|
278
|
9.7%
|
15.4%
|
-5.7%
|
|
|
1,226
|
|
1,227
|
-0.1%
|
0.5%
|
-0.6%
|
WW
|
|
1,238
|
|
1,466
|
-15.6%
|
-14.5%
|
-1.1%
|
|
|
5,326
|
|
6,315
|
-15.7%
|
-15.6%
|
-0.1%
|
SIMPONI / SIMPONI
ARIA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
272
|
|
253
|
7.5%
|
7.5%
|
-
|
|
|
1,051
|
|
954
|
10.2%
|
10.2%
|
-
|
Intl
|
|
210
|
|
237
|
-11.4%
|
-6.3%
|
-5.1%
|
|
|
1,033
|
|
879
|
17.5%
|
16.7%
|
0.8%
|
WW
|
|
482
|
|
490
|
-1.6%
|
0.9%
|
-2.5%
|
|
|
2,084
|
|
1,833
|
13.7%
|
13.3%
|
0.4%
|
STELARA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,009
|
|
740
|
36.4%
|
36.4%
|
-
|
|
|
3,469
|
|
2,767
|
25.4%
|
25.4%
|
-
|
Intl
|
|
435
|
|
341
|
27.6%
|
32.0%
|
-4.4%
|
|
|
1,687
|
|
1,244
|
35.6%
|
32.7%
|
2.9%
|
WW
|
|
1,444
|
|
1,081
|
33.6%
|
35.0%
|
-1.4%
|
|
|
5,156
|
|
4,011
|
28.5%
|
27.6%
|
0.9%
|
TREMFYA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
142
|
|
46
|
*
|
*
|
-
|
|
|
453
|
|
62
|
*
|
*
|
-
|
Intl
|
|
33
|
|
1
|
*
|
*
|
*
|
|
|
91
|
|
1
|
*
|
*
|
*
|
WW
|
|
175
|
|
47
|
*
|
*
|
*
|
|
|
544
|
|
63
|
*
|
*
|
*
|
OTHER
IMMUNOLOGY(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
3
|
|
2
|
50.0%
|
53.1%
|
-3.1%
|
|
|
10
|
|
22
|
-54.5%
|
-54.0%
|
-0.5%
|
WW
|
|
3
|
|
2
|
50.0%
|
53.1%
|
-3.1%
|
|
|
10
|
|
22
|
-54.5%
|
-54.0%
|
-0.5%
|
INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
372
|
|
338
|
10.1%
|
10.1%
|
-
|
|
|
1,378
|
|
1,358
|
1.5%
|
1.5%
|
-
|
Intl
|
|
430
|
|
462
|
-6.9%
|
-2.4%
|
-4.5%
|
|
|
1,926
|
|
1,796
|
7.2%
|
5.4%
|
1.8%
|
WW
|
|
802
|
|
800
|
0.3%
|
2.9%
|
-2.6%
|
|
|
3,304
|
|
3,154
|
4.8%
|
3.8%
|
1.0%
|
EDURANT /
rilpivirine
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
16
|
|
14
|
14.3%
|
14.3%
|
-
|
|
|
58
|
|
58
|
0.0%
|
0.0%
|
-
|
Intl
|
|
177
|
|
178
|
-0.6%
|
3.0%
|
-3.6%
|
|
|
758
|
|
656
|
15.5%
|
11.1%
|
4.4%
|
WW
|
|
193
|
|
192
|
0.5%
|
3.9%
|
-3.4%
|
|
|
816
|
|
714
|
14.3%
|
10.3%
|
4.0%
|
PREZISTA / PREZCOBIX /
REZOLSTA / SYMTUZA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
322
|
|
285
|
13.0%
|
13.0%
|
-
|
|
|
1,169
|
|
1,109
|
5.4%
|
5.4%
|
-
|
Intl
|
|
173
|
|
185
|
-6.5%
|
-2.3%
|
-4.2%
|
|
|
786
|
|
712
|
10.4%
|
9.5%
|
0.9%
|
WW
|
|
495
|
|
470
|
5.3%
|
7.0%
|
-1.7%
|
|
|
1,955
|
|
1,821
|
7.4%
|
7.0%
|
0.4%
|
OTHER INFECTIOUS
DISEASES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
34
|
|
39
|
-12.8%
|
-12.8%
|
-
|
|
|
151
|
|
191
|
-20.9%
|
-20.9%
|
-
|
Intl
|
|
80
|
|
99
|
-19.2%
|
-12.7%
|
-6.5%
|
|
|
382
|
|
428
|
-10.7%
|
-10.1%
|
-0.6%
|
WW
|
|
114
|
|
138
|
-17.4%
|
-12.8%
|
-4.6%
|
|
|
533
|
|
619
|
-13.9%
|
-13.5%
|
-0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
|
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
|
|
2018
|
|
2017
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2018
|
|
2017
|
Reported
|
Operational
(1)
|
Currency
|
|
|
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
660
|
|
699
|
-5.6%
|
-5.6%
|
-
|
|
|
2,574
|
|
2,630
|
-2.1%
|
-2.1%
|
-
|
|
|
Intl
|
|
840
|
|
825
|
1.8%
|
6.3%
|
-4.5%
|
|
|
3,503
|
|
3,356
|
4.4%
|
3.3%
|
1.1%
|
|
|
WW
|
|
1,500
|
|
1,524
|
-1.6%
|
0.8%
|
-2.4%
|
|
|
6,077
|
|
5,986
|
1.5%
|
0.9%
|
0.6%
|
|
|
CONCERTA /
methlyphenidate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
38
|
|
100
|
-62.0%
|
-62.0%
|
-
|
|
|
229
|
|
384
|
-40.4%
|
-40.4%
|
-
|
|
|
Intl
|
|
112
|
|
103
|
8.7%
|
13.2%
|
-4.5%
|
|
|
434
|
|
407
|
6.6%
|
6.7%
|
-0.1%
|
|
|
WW
|
|
150
|
|
203
|
-26.1%
|
-23.8%
|
-2.3%
|
|
|
663
|
|
791
|
-16.2%
|
-16.2%
|
0.0%
|
|
|
INVEGA SUSTENNA /
XEPLION / TRINZA / TREVICTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
485
|
|
436
|
11.2%
|
11.2%
|
-
|
|
|
1,791
|
|
1,590
|
12.6%
|
12.6%
|
-
|
|
|
Intl
|
|
278
|
|
257
|
8.2%
|
12.6%
|
-4.4%
|
|
|
1,137
|
|
979
|
16.1%
|
13.7%
|
2.4%
|
|
|
WW
|
|
763
|
|
693
|
10.1%
|
11.7%
|
-1.6%
|
|
|
2,928
|
|
2,569
|
14.0%
|
13.1%
|
0.9%
|
|
|
RISPERDAL
CONSTA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
77
|
|
87
|
-11.5%
|
-11.5%
|
-
|
|
|
315
|
|
360
|
-12.5%
|
-12.5%
|
-
|
|
|
Intl
|
|
101
|
|
110
|
-8.2%
|
-3.6%
|
-4.6%
|
|
|
422
|
|
445
|
-5.2%
|
-6.4%
|
1.2%
|
|
|
WW
|
|
178
|
|
197
|
-9.6%
|
-7.1%
|
-2.5%
|
|
|
737
|
|
805
|
-8.4%
|
-9.1%
|
0.7%
|
|
|
OTHER
NEUROSCIENCE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
60
|
|
76
|
-21.1%
|
-21.1%
|
-
|
|
|
239
|
|
296
|
-19.3%
|
-19.3%
|
-
|
|
|
Intl
|
|
349
|
|
355
|
-1.7%
|
2.8%
|
-4.5%
|
|
|
1,510
|
|
1,525
|
-1.0%
|
-1.6%
|
0.6%
|
|
|
WW
|
|
409
|
|
431
|
-5.1%
|
-1.4%
|
-3.7%
|
|
|
1,749
|
|
1,821
|
-4.0%
|
-4.5%
|
0.5%
|
|
|
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,063
|
|
891
|
19.3%
|
19.3%
|
-
|
|
|
4,331
|
|
3,098
|
39.8%
|
39.8%
|
-
|
|
|
Intl
|
|
1,426
|
|
1,148
|
24.2%
|
29.2%
|
-5.0%
|
|
|
5,513
|
|
4,160
|
32.5%
|
30.4%
|
2.1%
|
|
|
WW
|
|
2,489
|
|
2,039
|
22.1%
|
24.9%
|
-2.8%
|
|
|
9,844
|
|
7,258
|
35.6%
|
34.4%
|
1.2%
|
|
|
DARZALEX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
323
|
|
241
|
34.0%
|
34.0%
|
-
|
|
|
1,203
|
|
884
|
36.1%
|
36.1%
|
-
|
|
|
Intl
|
|
261
|
|
130
|
*
|
*
|
*
|
|
|
822
|
|
358
|
*
|
*
|
*
|
|
|
WW
|
|
584
|
|
371
|
57.4%
|
59.6%
|
-2.2%
|
|
|
2,025
|
|
1,242
|
63.0%
|
62.4%
|
0.6%
|
|
|
IMBRUVICA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
318
|
|
219
|
45.2%
|
45.2%
|
-
|
|
|
1,129
|
|
841
|
34.2%
|
34.2%
|
-
|
|
|
Intl
|
|
385
|
|
303
|
27.1%
|
34.1%
|
-7.0%
|
|
|
1,486
|
|
1,052
|
41.3%
|
39.9%
|
1.4%
|
|
|
WW
|
|
703
|
|
522
|
34.7%
|
38.8%
|
-4.1%
|
|
|
2,615
|
|
1,893
|
38.1%
|
37.3%
|
0.8%
|
|
|
VELCADE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
Intl
|
|
252
|
|
271
|
-7.0%
|
-3.1%
|
-3.9%
|
|
|
1,116
|
|
1,114
|
0.2%
|
-2.0%
|
2.2%
|
|
|
WW
|
|
252
|
|
271
|
-7.0%
|
-3.1%
|
-3.9%
|
|
|
1,116
|
|
1,114
|
0.2%
|
-2.0%
|
2.2%
|
|
|
ZYTIGA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
351
|
|
402
|
-12.7%
|
-12.7%
|
-
|
|
|
1,771
|
|
1,228
|
44.2%
|
44.2%
|
-
|
|
|
Intl
|
|
435
|
|
353
|
23.2%
|
27.1%
|
-3.9%
|
|
|
1,727
|
|
1,277
|
35.2%
|
32.2%
|
3.0%
|
|
|
WW
|
|
786
|
|
755
|
4.1%
|
5.9%
|
-1.8%
|
|
|
3,498
|
|
2,505
|
39.6%
|
38.1%
|
1.5%
|
|
|
OTHER
ONCOLOGY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
71
|
|
29
|
*
|
*
|
-
|
|
|
228
|
|
145
|
57.2%
|
57.2%
|
-
|
|
|
Intl
|
|
93
|
|
91
|
2.2%
|
7.0%
|
-4.8%
|
|
|
362
|
|
359
|
0.8%
|
-0.2%
|
1.0%
|
|
|
WW
|
|
164
|
|
120
|
36.7%
|
40.3%
|
-3.6%
|
|
|
590
|
|
504
|
17.1%
|
16.4%
|
0.7%
|
|
|
PULMONARY
HYPERTENSION(4)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
436
|
|
365
|
19.5%
|
19.5%
|
-
|
|
|
1,651
|
|
773
|
*
|
*
|
-
|
|
|
Intl
|
|
231
|
|
245
|
-5.7%
|
-1.7%
|
-4.0%
|
|
|
922
|
|
554
|
66.4%
|
64.2%
|
2.2%
|
|
|
WW
|
|
667
|
|
610
|
9.3%
|
10.9%
|
-1.6%
|
|
|
2,573
|
|
1,327
|
93.9%
|
93.0%
|
0.9%
|
|
|
OPSUMIT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
189
|
|
146
|
29.5%
|
29.5%
|
-
|
|
|
700
|
|
320
|
*
|
*
|
-
|
|
|
Intl
|
|
134
|
|
123
|
8.9%
|
13.8%
|
-4.9%
|
|
|
515
|
|
253
|
*
|
*
|
*
|
|
|
WW
|
|
323
|
|
269
|
20.1%
|
22.3%
|
-2.2%
|
|
|
1,215
|
|
573
|
*
|
*
|
*
|
|
|
TRACLEER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
60
|
|
76
|
-21.1%
|
-21.1%
|
-
|
|
|
268
|
|
161
|
66.5%
|
66.5%
|
-
|
|
|
Intl
|
|
64
|
|
91
|
-29.7%
|
-27.2%
|
-2.5%
|
|
|
278
|
|
242
|
14.9%
|
13.2%
|
1.7%
|
|
|
WW
|
|
124
|
|
167
|
-25.7%
|
-24.4%
|
-1.3%
|
|
|
546
|
|
403
|
35.5%
|
34.5%
|
1.0%
|
|
|
UPTRAVI
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
165
|
|
117
|
41.0%
|
41.0%
|
-
|
|
|
598
|
|
238
|
*
|
*
|
-
|
|
|
Intl
|
|
16
|
|
13
|
23.1%
|
27.3%
|
-4.2%
|
|
|
65
|
|
25
|
*
|
*
|
*
|
|
|
WW
|
|
181
|
|
130
|
39.2%
|
39.6%
|
-0.4%
|
|
|
663
|
|
263
|
*
|
*
|
*
|
|
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
22
|
|
26
|
-15.4%
|
-15.4%
|
-
|
|
|
85
|
|
54
|
57.4%
|
57.4%
|
-
|
|
|
Intl
|
|
17
|
|
18
|
-5.6%
|
0.7%
|
-6.3%
|
|
|
64
|
|
34
|
88.2%
|
89.1%
|
-0.9%
|
|
|
WW
|
|
39
|
|
44
|
-11.4%
|
-8.9%
|
-2.5%
|
|
|
149
|
|
88
|
69.3%
|
69.6%
|
-0.3%
|
|
|
CARDIOVASCULAR /
METABOLISM / OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,049
|
|
1,256
|
-16.5%
|
-16.5%
|
-
|
|
|
4,279
|
|
4,744
|
-9.8%
|
-9.8%
|
-
|
|
|
Intl
|
|
341
|
|
366
|
-6.8%
|
-1.5%
|
-5.3%
|
|
|
1,537
|
|
1,543
|
-0.4%
|
-1.2%
|
0.8%
|
|
|
WW
|
|
1,390
|
|
1,622
|
-14.3%
|
-13.1%
|
-1.2%
|
|
|
5,816
|
|
6,287
|
-7.5%
|
-7.7%
|
0.2%
|
|
|
XARELTO
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
608
|
|
710
|
-14.4%
|
-14.4%
|
-
|
|
|
2,477
|
|
2,500
|
-0.9%
|
-0.9%
|
-
|
|
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
WW
|
|
608
|
|
710
|
-14.4%
|
-14.4%
|
-
|
|
|
2,477
|
|
2,500
|
-0.9%
|
-0.9%
|
-
|
|
|
INVOKANA /
INVOKAMET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
188
|
|
221
|
-14.9%
|
-14.9%
|
-
|
|
|
711
|
|
944
|
-24.7%
|
-24.7%
|
-
|
|
|
Intl
|
|
40
|
|
46
|
-13.0%
|
-7.9%
|
-5.1%
|
|
|
170
|
|
167
|
1.8%
|
1.3%
|
0.5%
|
|
|
WW
|
|
228
|
|
267
|
-14.6%
|
-13.7%
|
-0.9%
|
|
|
881
|
|
1,111
|
-20.7%
|
-20.8%
|
0.1%
|
|
|
PROCRIT /
EPREX
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
151
|
|
164
|
-7.9%
|
-7.9%
|
-
|
|
|
674
|
|
675
|
-0.1%
|
-0.1%
|
-
|
|
|
Intl
|
|
70
|
|
68
|
2.9%
|
6.7%
|
-3.8%
|
|
|
314
|
|
297
|
5.7%
|
3.7%
|
2.0%
|
|
|
WW
|
|
221
|
|
232
|
-4.7%
|
-3.6%
|
-1.1%
|
|
|
988
|
|
972
|
1.6%
|
1.0%
|
0.6%
|
|
|
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
102
|
|
161
|
-36.6%
|
-36.6%
|
-
|
|
|
417
|
|
625
|
-33.3%
|
-33.3%
|
-
|
|
|
Intl
|
|
231
|
|
252
|
-8.3%
|
-2.5%
|
-5.8%
|
|
|
1,053
|
|
1,079
|
-2.4%
|
-3.0%
|
0.6%
|
|
|
WW
|
|
333
|
|
413
|
-19.4%
|
-15.9%
|
-3.5%
|
|
|
1,470
|
|
1,704
|
-13.7%
|
-14.1%
|
0.4%
|
|
|
TOTAL
PHARMACEUTICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
5,936
|
|
5,776
|
2.8%
|
2.8%
|
-
|
|
|
23,286
|
|
21,474
|
8.4%
|
8.4%
|
-
|
|
|
Intl
|
|
4,254
|
|
3,905
|
8.9%
|
13.7%
|
-4.8%
|
|
|
17,448
|
|
14,782
|
18.0%
|
16.5%
|
1.5%
|
|
|
WW
|
|
$
10,190
|
|
$
9,681
|
5.3%
|
7.2%
|
-1.9%
|
|
|
$
40,734
|
|
$
36,256
|
12.4%
|
11.8%
|
0.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See footnotes at end
of schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REPORTED SALES vs.
PRIOR PERIOD ($MM)
|
|
FOURTH
QUARTER
|
|
TWELVE
MONTHS
|
|
|
|
|
|
%
Change
|
|
|
|
|
|
%
Change
|
|
|
2018
|
|
2017
|
Reported
|
Operational
(1)
|
Currency
|
|
|
2018
|
|
2017
|
Reported
|
Operational
(1)
|
Currency
|
MEDICAL DEVICES
SEGMENT (2)(5)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIABETES
CARE(6)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
$
-
|
|
$
130
|
*
|
*
|
-
|
|
|
$
371
|
|
$
612
|
-39.4%
|
-39.4%
|
-
|
Intl
|
|
-
|
|
260
|
*
|
*
|
*
|
|
|
638
|
|
1,003
|
-36.4%
|
-36.8%
|
0.4%
|
WW
|
|
-
|
|
390
|
*
|
*
|
*
|
|
|
1,009
|
|
1,615
|
-37.5%
|
-37.7%
|
0.2%
|
DIAGNOSTICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
-
|
-
|
-
|
-
|
Intl
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
1
|
*
|
*
|
*
|
WW
|
|
-
|
|
-
|
-
|
-
|
-
|
|
|
-
|
|
1
|
*
|
*
|
*
|
INTERVENTIONAL
SOLUTIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
336
|
|
305
|
10.2%
|
10.2%
|
0.0%
|
|
|
1,283
|
|
1,148
|
11.8%
|
11.8%
|
-
|
Intl
|
|
350
|
|
316
|
10.8%
|
14.2%
|
-3.4%
|
|
|
1,363
|
|
1,148
|
18.7%
|
16.5%
|
2.2%
|
WW
|
|
686
|
|
621
|
10.5%
|
12.2%
|
-1.7%
|
|
|
2,646
|
|
2,296
|
15.2%
|
14.1%
|
1.1%
|
ORTHOPAEDICS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,358
|
|
1,370
|
-0.9%
|
-0.9%
|
-
|
|
|
5,281
|
|
5,404
|
-2.3%
|
-2.3%
|
-
|
Intl
|
|
904
|
|
916
|
-1.3%
|
2.4%
|
-3.7%
|
|
|
3,604
|
|
3,654
|
-1.4%
|
-2.9%
|
1.5%
|
WW
|
|
2,262
|
|
2,286
|
-1.0%
|
0.5%
|
-1.5%
|
|
|
8,885
|
|
9,058
|
-1.9%
|
-2.5%
|
0.6%
|
HIPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
220
|
|
215
|
2.3%
|
2.3%
|
-
|
|
|
841
|
|
827
|
1.7%
|
1.7%
|
-
|
Intl
|
|
145
|
|
149
|
-2.7%
|
1.4%
|
-4.1%
|
|
|
577
|
|
567
|
1.8%
|
0.5%
|
1.3%
|
WW
|
|
365
|
|
364
|
0.3%
|
2.0%
|
-1.7%
|
|
|
1,418
|
|
1,394
|
1.7%
|
1.2%
|
0.5%
|
KNEES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
239
|
|
246
|
-2.8%
|
-2.8%
|
-
|
|
|
911
|
|
948
|
-3.9%
|
-3.9%
|
-
|
Intl
|
|
153
|
|
151
|
1.3%
|
5.2%
|
-3.9%
|
|
|
591
|
|
575
|
2.8%
|
1.5%
|
1.3%
|
WW
|
|
392
|
|
397
|
-1.3%
|
0.2%
|
-1.5%
|
|
|
1,502
|
|
1,523
|
-1.4%
|
-1.9%
|
0.5%
|
TRAUMA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
403
|
|
397
|
1.5%
|
1.5%
|
-
|
|
|
1,599
|
|
1,576
|
1.5%
|
1.5%
|
-
|
Intl
|
|
271
|
|
272
|
-0.4%
|
3.4%
|
-3.8%
|
|
|
1,100
|
|
1,040
|
5.8%
|
4.2%
|
1.6%
|
WW
|
|
674
|
|
669
|
0.7%
|
2.2%
|
-1.5%
|
|
|
2,699
|
|
2,616
|
3.2%
|
2.5%
|
0.7%
|
SPINE &
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
496
|
|
512
|
-3.1%
|
-3.1%
|
-
|
|
|
1,930
|
|
2,053
|
-6.0%
|
-6.0%
|
-
|
Intl
|
|
335
|
|
344
|
-2.6%
|
0.9%
|
-3.5%
|
|
|
1,336
|
|
1,472
|
-9.2%
|
-10.7%
|
1.5%
|
WW
|
|
831
|
|
856
|
-2.9%
|
-1.5%
|
-1.4%
|
|
|
3,266
|
|
3,525
|
-7.3%
|
-7.9%
|
0.6%
|
SURGERY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
1,094
|
|
1,076
|
1.7%
|
1.7%
|
-
|
|
|
4,125
|
|
4,085
|
1.0%
|
1.0%
|
-
|
Intl
|
|
1,493
|
|
1,482
|
0.7%
|
5.4%
|
-4.7%
|
|
|
5,776
|
|
5,474
|
5.5%
|
5.1%
|
0.4%
|
WW
|
|
2,587
|
|
2,558
|
1.1%
|
3.8%
|
-2.7%
|
|
|
9,901
|
|
9,559
|
3.6%
|
3.4%
|
0.2%
|
ADVANCED
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
441
|
|
430
|
2.6%
|
2.6%
|
-
|
|
|
1,657
|
|
1,620
|
2.3%
|
2.3%
|
-
|
Intl
|
|
614
|
|
593
|
3.5%
|
8.0%
|
-4.5%
|
|
|
2,345
|
|
2,136
|
9.8%
|
9.1%
|
0.7%
|
WW
|
|
1,055
|
|
1,023
|
3.1%
|
5.7%
|
-2.6%
|
|
|
4,002
|
|
3,756
|
6.5%
|
6.1%
|
0.4%
|
GENERAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
469
|
|
452
|
3.8%
|
3.8%
|
-
|
|
|
1,751
|
|
1,728
|
1.3%
|
1.3%
|
-
|
Intl
|
|
712
|
|
718
|
-0.8%
|
3.9%
|
-4.7%
|
|
|
2,806
|
|
2,735
|
2.6%
|
2.2%
|
0.4%
|
WW
|
|
1,181
|
|
1,170
|
0.9%
|
3.8%
|
-2.9%
|
|
|
4,557
|
|
4,463
|
2.1%
|
1.8%
|
0.3%
|
SPECIALTY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
184
|
|
194
|
-5.2%
|
-5.2%
|
-
|
|
|
717
|
|
737
|
-2.7%
|
-2.7%
|
-
|
Intl
|
|
167
|
|
171
|
-2.3%
|
2.7%
|
-5.0%
|
|
|
625
|
|
603
|
3.6%
|
4.2%
|
-0.6%
|
WW
|
|
351
|
|
365
|
-3.8%
|
-1.4%
|
-2.4%
|
|
|
1,342
|
|
1,340
|
0.1%
|
0.4%
|
-0.3%
|
VISION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
426
|
|
433
|
-1.6%
|
-1.6%
|
-
|
|
|
1,777
|
|
1,575
|
12.8%
|
12.8%
|
-
|
Intl
|
|
707
|
|
686
|
3.1%
|
6.8%
|
-3.7%
|
|
|
2,776
|
|
2,488
|
11.6%
|
11.0%
|
0.6%
|
WW
|
|
1,133
|
|
1,119
|
1.3%
|
3.6%
|
-2.3%
|
|
|
4,553
|
|
4,063
|
12.1%
|
11.8%
|
0.3%
|
CONTACT LENSES /
OTHER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
289
|
|
290
|
-0.3%
|
-0.3%
|
-
|
|
|
1,237
|
|
1,122
|
10.2%
|
10.2%
|
-
|
Intl
|
|
527
|
|
510
|
3.3%
|
7.2%
|
-3.9%
|
|
|
2,065
|
|
1,914
|
7.9%
|
7.4%
|
0.5%
|
WW
|
|
816
|
|
800
|
2.0%
|
4.5%
|
-2.5%
|
|
|
3,302
|
|
3,036
|
8.8%
|
8.5%
|
0.3%
|
SURGICAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
137
|
|
143
|
-4.2%
|
-4.2%
|
-
|
|
|
540
|
|
453
|
19.2%
|
19.2%
|
-
|
Intl
|
|
180
|
|
176
|
2.3%
|
5.3%
|
-3.0%
|
|
|
711
|
|
574
|
23.9%
|
23.1%
|
0.8%
|
WW
|
|
317
|
|
319
|
-0.6%
|
1.1%
|
-1.7%
|
|
|
1,251
|
|
1,027
|
21.8%
|
21.4%
|
0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL MEDICAL
DEVICES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
3,214
|
|
3,314
|
-3.0%
|
-3.0%
|
-
|
|
|
12,837
|
|
12,824
|
0.1%
|
0.1%
|
-
|
Intl
|
|
3,454
|
|
3,660
|
-5.6%
|
-1.4%
|
-4.2%
|
|
|
14,157
|
|
13,768
|
2.8%
|
1.9%
|
0.9%
|
WW
|
|
$
6,668
|
|
6,974
|
-4.4%
|
-2.2%
|
-2.2%
|
|
|
$
26,994
|
|
$
26,592
|
1.5%
|
1.1%
|
0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* Percentage greater
than 100% or not meaningful
|
(1) Operational
growth excludes the effect of translational currency
|
(2)
Unaudited
|
(3) Reported as U.S.
sales
|
(4) Products acquired
from Actelion acquisition on June 16, 2017
|
(5) Prior year
amounts have been reclassified to conform to current year product
disclosure
|
(6) Reflects LifeScan
divestiture October 2, 2018
|
Pharmaceutical
Supplemental Schedule
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior quarter
amounts have been reclassified to
conform to current quarter product disclosure ($MM)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Full
Year
|
|
|
|
Q1
|
|
Q2
|
|
Q3
|
|
Q4
|
PHARMACEUTICAL
SEGMENT(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
TREMFYA
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
62
|
|
|
|
66
|
|
102
|
|
143
|
|
142
|
Intl
|
|
1
|
|
|
|
6
|
|
24
|
|
28
|
|
33
|
WW
|
|
63
|
|
|
|
72
|
|
126
|
|
171
|
|
175
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER
IMMUNOLOGY(2)
|
|
|
|
|
|
|
|
|
|
|
|
|
US
|
|
-
|
|
|
|
-
|
|
-
|
|
-
|
|
-
|
Intl
|
|
22
|
|
|
|
2
|
|
3
|
|
2
|
|
3
|
WW
|
|
22
|
|
|
|
2
|
|
3
|
|
2
|
|
3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
Unaudited
|
(2) Prior year
amounts have been reclassified to conform to current year product
disclosure
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2018-fourth-quarter-results-300781914.html
SOURCE Johnson & Johnson