Johnson & Johnson Reports 2019 First-Quarter Results:

  • Sales of $20.0 billion reflecting growth of 0.1%, operational growth of 3.9%* and adjusted operational growth of 5.5%*
  • EPS of $1.39 decreased 13.1%; adjusted EPS of $2.10 increased 1.9%*
  • Midpoint of adjusted EPS guidance maintained, overcoming incremental currency headwinds
  • Strength of business drives up guidance for operational sales and adjusted operational EPS

NEW BRUNSWICK, N.J., April 16, 2019 /PRNewswire/ -- Johnson & Johnson (NYSE: JNJ) today announced results for first-quarter 2019. "Our strong first-quarter results reflect continued underlying operational sales and adjusted EPS growth," said Alex Gorsky, Chairman and Chief Executive Officer. "At the same time, we remain focused on investing in innovative technologies and platforms that will make a meaningful difference in the lives of patients around the world. I am proud of our global colleagues' collective efforts to deliver on our long-term goals and our ability to create value for all of our stakeholders."

OVERALL FINANCIAL RESULTS:

 

FIRST QUARTER

 

($ in Millions, except EPS)

2019

2018

% Change

Reported Sales

$ 20,021

$ 20,009

0.1%

Net Earnings

3,749

4,367

(14.2)

EPS (diluted)

$ 1.39

$ 1.60

(13.1)%

       

Non-GAAP*

FIRST QUARTER

 

($ in Millions, except EPS)

2019

2018

% Change

Operational Sales

N/A

N/A

3.9%

Adjusted Operational Sales

N/A

N/A

5.5

Adjusted Net Earnings

5,661

5,635

0.5

Adjusted EPS (diluted)

$ 2.10

$ 2.06

1.9%

* Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

REGIONAL SALES RESULTS:

 

FIRST QUARTER

% Change

($ in Millions)

2019

2018

Reported

Operational1,2

Currency

Adjusted Operational1,3

U.S.

$ 10,129

$ 9,951

1.8%

1.8

-

3.1

International

9,892

10,058

(1.7)

6.0

(7.7)

7.9

Worldwide

$ 20,021

$ 20,009

0.1%

3.9

(3.8)

5.5

1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

Note: values may have been rounded

SEGMENT SALES RESULTS:

 

FIRST QUARTER

% Change

($ in Millions)

2019

2018

Reported

Operational1,2

Currency

Adjusted Operational1,3

Consumer

$ 3,318

$ 3,398

(2.4)%

2.2

(4.6)

0.7

Pharmaceuticals

10,244

9,844

4.1

7.9

(3.8)

7.9

Medical Devices

6,459

6,767

(4.6)

(1.0)

(3.6)

4.3

Worldwide

$ 20,021

$ 20,009

0.1%

3.9

(3.8)

5.5

1 Non-GAAP financial measure; refer to reconciliations of non-GAAP financial measures included in accompanying schedules

2 Excludes the impact of translational currency

3 Excludes the net impact of acquisitions and divestitures and translational currency

Note: values may have been rounded

SEGMENT COMMENTARY:

Consumer
Consumer worldwide operational sales, excluding the net impact of acquisitions and divestitures grew 0.7%* driven by over-the-counter products including TYLENOL analgesics, digestive health products and international anti-smoking aids; and NEUTROGENA beauty products, primarily offset by lower sales of baby care products.

Pharmaceutical
Pharmaceutical worldwide operational sales, excluding the net impact of acquisitions and divestitures grew 7.9%* driven by STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, IMBRUVICA (ibrutinib), an oral, once-daily therapy approved for use in treating certain B-cell malignancies, a type of blood or lymph node cancer, DARZALEX (daratumumab), for the treatment of multiple myeloma, TREMFYA (guselkumab), a biologic for the treatment of adults living with moderate to severe plaque psoriasis, INVEGA SUSTENNA/XEPLION/INVEGA TRINZA/TREVICTA (paliperidone palmitate), long-acting, injectable atypical antipsychotics for the treatment of schizophrenia in adults, PREZISTA/PREZCOBIX/REZOLSTA/SYMTUZA (D/C/F/TAF) for the treatment of human immunodeficiency virus type 1 (HIV-1) infection, UPTRAVI (selexipag), an oral prostacyclin receptor agonist used to treat pulmonary arterial hypertension and reduce hospitalization, and ERLEADA (apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with non-metastatic castration-resistant prostate cancer partially offset by declines in REMICADE (infliximab), a biologic approved for the treatment of a number of immune-mediated inflammatory diseases, and U.S. ZYTIGA (abiraterone acetate), an oral, once-daily medication for use in combination with prednisone for the treatment of metastatic, castration-resistant prostate cancer due to biosimilar and generic entrants.

Medical Devices
Worldwide Medical Devices operational sales, excluding the net impact of acquisitions and divestitures grew 4.3%* driven by the growth of electrophysiology products in the Interventional Solutions business; ACUVUE contact lenses in the Vision business; biosurgicals in the Advanced Surgery business; and wound closure products in the General Surgery business.

NOTABLE NEW ANNOUNCEMENTS IN THE QUARTER:

Acquisitions/Divestitures/Licenses

  • Completed the divestiture of Advanced Sterilization Products1 (press release)
  • Completed the acquisition of Auris Health, Inc.1 commercially available robotic platform technology (press release)
  • Entered into an exclusive worldwide collaboration and license agreement with MeiraGTx to develop gene therapy programs for inherited retinal diseases (press release)

Pipeline Updates

Regulatory Approvals

BALVERSA (erdafitinib) - Locally advanced or metastatic urothelial cancer (U.S.)1

(press release)

SPRAVATO (esketamine) - Treatment-resistant depression (U.S.)

(press release)

TREMFYA (guselkumab) - One-press patient-controlled injector (U.S.)

(press release)

DARZALEX (daratumumab) Split-dosing regimen (U.S.)

(press release)

IMBRUVICA (ibrutinib) plus obinutuzumab - Chronic lymphocytic leukemia (U.S.)

(press release)

Regulatory Submissions

INVOKANA (canagliflozin) - Chronic kidney disease in patients with Type 2 diabetes (U.S.)

(press release)

DARZALEX (daratumumab) - Combination therapy for transplant eligible multiple myeloma patients (U.S.,EU)

(press release - U.S.)

(press release - EU)

DARZALEX (daratumumab) - Combination therapy for transplant ineligible multiple myeloma patients (U.S.,EU)

(press release - U.S.)

(press release - EU)

Other

Antihistamine-releasing contact lens demonstrates positive Phase 3 results

(press release)

ACUVUE OASYS with TRANSITIONS LIGHT INTELLIGENT TECHNOLOGY availability (U.S)

(press release)

1 Subsequent to the quarter

FULL YEAR 2019 GUIDANCE:

Johnson & Johnson does not provide GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, acquisition-related expenses and purchase accounting fair value adjustments without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Johnson & Johnson's results computed in accordance with GAAP.

 

April 2019

January 2019

($ in Billions, except EPS)

   

Adjusted Operational Sales1,2

Change vs. Prior Year

2.5% - 3.5%

2.0% - 3.0%

Operational Sales2

Change vs. Prior Year

$82.0 to $82.8

0.5% - 1.5%

$81.6 to $82.4

0.0% - 1.0%

Estimated Reported Sales3

Change vs. Prior Year

$80.4 to $81.2

(1.5%) - (0.5%)

$80.4 to $81.2

(1.5%) - (0.5%)

     

Adjusted Operational EPS (Diluted)2,4

Change vs. Prior Year

$8.73 to $8.83

6.7% - 7.9%

$8.65 to $8.80

5.7% - 7.6%

Adjusted EPS (Diluted)3,4

Change vs. Prior Year

$8.53 to $8.63

4.3% - 5.5%

$8.50 to $8.65

3.9% - 5.8%

 

1 Non-GAAP financial measure; excludes the net impact of acquisitions and divestitures

2 Non-GAAP financial measure; excludes the impact of translational currency

3 Calculated using Euro Average Rate: April 2019 = $1.12; Euro Average Rate: Jan 2019 = $1.14 (Illustrative purposes only)

4 Non-GAAP financial measure; excludes intangible amortization expense and special items

Other modeling considerations will be provided on the webcast.

WEBCAST INFORMATION:
Johnson & Johnson will conduct a conference call with investors to discuss this earnings release today at 8:30 a.m., Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Johnson & Johnson website. A replay and podcast will be available approximately two hours after the live webcast in the Investors section of the company's website at events-and-presentations.

ABOUT JOHNSON & JOHNSON:
At Johnson & Johnson, we believe good health is the foundation of vibrant lives, thriving communities and forward progress. That's why for more than 130 years, we have aimed to keep people well at every age and every stage of life. Today, as the world's largest and most broadly-based health care company, we are committed to using our reach and size for good. We strive to improve access and affordability, create healthier communities, and put a healthy mind, body and environment within reach of everyone, everywhere. We are blending our heart, science and ingenuity to profoundly change the trajectory of health for humanity.

NON-GAAP FINANCIAL MEASURES:
*Operational sales growth excluding the impact of translational currency, adjusted operational sales growth excluding the net impact of acquisitions and divestitures and translational currency, as well as adjusted net earnings, adjusted diluted earnings per share and adjusted operational diluted earnings per share excluding after-tax intangible amortization expense and special items, are non-GAAP financial measures and should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Except for guidance measures, reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the accompanying financial schedules of the earnings release and the Investors section of the company's website at quarterly-results.

Copies of the financial schedules accompanying this earnings release are available on the company's website at quarterly-results. These schedules include supplementary sales data, a condensed consolidated statement of earnings, reconciliations of non-GAAP financial measures, and sales of key products/franchises. Additional information on Johnson & Johnson, including adjusted income before tax by segment, a pharmaceutical pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can also be found in the Investors section of the company's website at quarterly-results.

NOTE TO INVESTORS CONCERNING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, market position and business strategy. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Johnson & Johnson. Risks and uncertainties include, but are not limited to: economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in new product research and development, including uncertainty of clinical success and obtaining regulatory approvals; uncertainty of commercial success for new and existing products; challenges to patents; the impact of patent expirations; the ability of the company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; product efficacy or safety concerns resulting in product recalls or regulatory action; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; changes in behavior and spending patterns of purchasers of health care products and services; financial instability of international economies and legal systems and sovereign risk; increased scrutiny of the health care industry by government agencies. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 30, 2018, including in the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson. Any forward-looking statement made in this release speaks only as of the date of this release. Johnson & Johnson does not undertake to update any forward-looking statement as a result of new information or future events or developments.

Johnson & Johnson and Subsidiaries

                 

Supplementary Sales Data

                 
                   

(Unaudited; Dollars in Millions)

FIRST QUARTER

         

Percent Change

 

2019

 

2018

 

Total

 

Operations

 

Currency

Sales to customers by

                 

segment of business

                 
                   

Consumer

                 

U.S.

$ 1,438

 

1,436

 

0.2

%

0.2

 

-

International

1,880

 

1,962

 

(4.2)

 

3.7

 

(7.9)

 

3,318

 

3,398

 

(2.4)

 

2.2

 

(4.6)

                   

Pharmaceutical

                 

U.S.

5,582

 

5,354

 

4.3

 

4.3

 

-

International

4,662

 

4,490

 

3.9

 

12.2

 

(8.3)

 

10,244

 

9,844

 

4.1

 

7.9

 

(3.8)

                   

Medical Devices

                 

U.S.

3,109

 

3,161

 

(1.6)

 

(1.6)

 

-

International

3,350

 

3,606

 

(7.1)

 

(0.3)

 

(6.8)

 

6,459

 

6,767

 

(4.6)

 

(1.0)

 

(3.6)

                   

U.S.

10,129

 

9,951

 

1.8

 

1.8

 

-

International

9,892

 

10,058

 

(1.7)

 

6.0

 

(7.7)

Worldwide

$ 20,021

 

20,009

 

0.1

%

3.9

 

(3.8)

                   

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries

                 

Supplementary Sales Data

                 
                   

(Unaudited; Dollars in Millions)

FIRST QUARTER

         

Percent Change

 

2019

 

2018

 

Total

 

Operations

 

Currency

Sales to customers by

                 

geographic area

                 
                   

U.S.

$ 10,129

 

9,951

 

1.8

%

1.8

 

-

                   

Europe

4,609

 

4,797

 

(3.9)

 

4.5

 

(8.4)

Western Hemisphere excluding U.S.

1,503

 

1,567

 

(4.1)

 

8.7

 

(12.8)

Asia-Pacific, Africa

3,780

 

3,694

 

2.3

 

6.9

 

(4.6)

International

9,892

 

10,058

 

(1.7)

 

6.0

 

(7.7)

                   

Worldwide

$ 20,021

 

20,009

 

0.1

%

3.9

 

(3.8)

                   
                   

Note: Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

Johnson & Johnson and Subsidiaries

                 

Condensed Consolidated Statement of Earnings

                 
                   

(Unaudited; in Millions Except Per Share Figures)

FIRST QUARTER

                   
 

2019

 

2018

 

Percent

     

Percent

     

Percent

 

Increase

 

Amount

 

to Sales

 

Amount

 

to Sales

 

(Decrease)

Sales to customers

$ 20,021

 

100.0

 

$ 20,009

 

100.0

 

0.1

Cost of products sold

6,615

 

33.0

 

6,614

 

33.1

 

0.0

Gross Profit

13,406

 

67.0

 

13,395

 

66.9

 

0.1

Selling, marketing and administrative expenses

5,219

 

26.1

 

5,263

 

26.3

 

(0.8)

Research and development expense

2,858

 

14.3

 

2,404

 

12.0

 

18.9

In-process research and development

890

 

4.4

 

-

 

-

   

Interest (income) expense, net

3

 

0.0

 

145

 

0.7

   

Other (income) expense, net

(22)

 

(0.1)

 

60

 

0.3

   

Restructuring

36

 

0.2

 

42

 

0.2

   

Earnings before provision for taxes on income

4,422

 

22.1

 

5,481

 

27.4

 

(19.3)

Provision for taxes on income

673

 

3.4

 

1,114

 

5.6

 

(39.6)

Net earnings

3,749

 

18.7

 

4,367

 

21.8

 

(14.2)

                   

Net earnings per share (Diluted)

$ 1.39

     

$ 1.60

     

(13.1)

                   

Average shares outstanding (Diluted)

2,698.8

     

2,731.9

       
                   

Effective tax rate

15.2

%

   

20.3

%

     
                   

Adjusted earnings before provision for taxes and net earnings (1)

                 

Earnings before provision for taxes on income

$ 6,867

 

34.3

 

$ 6,858

 

34.3

 

0.1

Net earnings

$ 5,661

 

28.3

 

$ 5,635

 

28.2

 

0.5

Net earnings per share (Diluted)

$ 2.10

     

$ 2.06

     

1.9

Effective tax rate

17.6

%

   

17.8

%

     
                   

(1) See Reconciliation of Non-GAAP Financial Measures.

                 

Johnson & Johnson and Subsidiaries

                 

Reconciliation of Non-GAAP Financial Measures

                 
                   
     

First Quarter

 

% Incr. /

   

(Dollars in Millions Except Per Share Data)

   

2019

 

2018

 

(Decr.)

   
                   

Earnings before provision for taxes on income - as reported

   

$ 4,422

 

5,481

 

(19.3)

%

 

Intangible asset amortization expense

   

1,130

 

1,115

       

In-process research and development

   

890

 

-

       

Litigation expense

   

423

 

-

       

Unrealized (gain)/loss on securities

   

(158)

 

27

       

Restructuring/Other (1)

   

90

 

107

       

Actelion acquisition related cost

   

39

 

96

       

AMO acquisition related cost

   

28

 

21

       

Other

   

3

 

11

       

Earnings before provision for taxes on income - as adjusted

   

$ 6,867

 

6,858

 

0.1

%

 
                   

Net Earnings - as reported

   

$ 3,749

 

4,367

 

(14.2)

%

 

Intangible asset amortization expense

   

846

 

996

       

In-process research and development

   

703

 

-

       

Litigation expense

   

342

 

-

       

Unrealized (gain)/loss on securities

   

(125)

 

21

       

Restructuring/Other

   

75

 

81

       

Actelion acquisition related cost

   

37

 

92

       

AMO acquisition related cost

   

23

 

17

       

Impact of tax legislation (2)

   

-

 

52

       

Other

   

11

 

9

       

Net Earnings - as adjusted

   

$ 5,661

 

5,635

 

0.5

%

 
                   

Diluted Net Earnings per share - as reported

   

$ 1.39

 

1.60

 

(13.1)

%

 

Intangible asset amortization expense

   

0.31

 

0.36

       

In-process research and development

   

0.26

 

-

       

Litigation expense

   

0.13

 

-

       

Unrealized (gain)/loss on securities

   

(0.05)

 

0.01

       

Restructuring/Other

   

0.03

 

0.03

       

Actelion acquisition related cost

   

0.01

 

0.03

       

AMO acquisition related cost

   

0.01

 

0.01

       

Impact of tax legislation

   

-

 

0.02

       

Other

   

0.01

 

-

       

Diluted Net Earnings per share - as adjusted

   

$ 2.10

 

2.06

 

1.9

%

 
                   

Operational Diluted Net Earnings per share - as adjusted at 2017 foreign
currency exchange rates

       

1.93

       
                   

Impact of currency at 2018 foreign currency exchange rates

   

0.08

 

0.13

       
                   

Operational Diluted Net Earnings per share - as adjusted at 2018 foreign
currency exchange rates

   

$ 2.18

 

2.06

 

5.8

%

 
                   
                   

(1) Includes $23M recorded in cost of products sold and $31M recorded in other (income) expense in the first quarter 2019, and $6M recorded in cost of products sold

and $59M recorded in other (income) expense in the first quarter 2018

                   

(2) Includes foreign currency translation

Johnson & Johnson and Subsidiaries

               

Reconciliation of Non-GAAP Financial Measure

               
                 

Adjusted Operational Sales Growth

FIRST QUARTER 2019 ACTUAL vs. 2018 ACTUAL

                 

Segments

                 
   

Consumer

 

Pharmaceutical

 

Medical Devices

 

Total

WW As Reported

 

(2.4)%

 

4.1%

 

(4.6)%

 

0.1%

U.S.

 

0.2%

 

4.3%

 

(1.6)%

 

1.8%

International

 

(4.2)%

 

3.9%

 

(7.1)%

 

(1.7)%

                 

WW Currency

 

(4.6)

 

(3.8)

 

(3.6)

 

(3.8)

U.S.

 

-

 

-

 

-

 

-

International

 

(7.9)

 

(8.3)

 

(6.8)

 

(7.7)

                 

WW Operational

 

2.2%

 

7.9%

 

(1.0)%

 

3.9%

U.S.

 

0.2%

 

4.3%

 

(1.6)%

 

1.8%

International

 

3.7%

 

12.2%

 

(0.3)%

 

6.0%

                 

Beauty

               

Nizoral

 

0.4

         

0.1

U.S.

 

0.3

         

0.0

International

 

0.5

         

0.1

                 

OTC

               

Zarbees

 

(0.8)

         

(0.1)

U.S.

 

(2.0)

         

(0.3)

International

 

0.0

         

0.0

                 

Diabetes Care

               

LifeScan

         

5.1

 

1.7

U.S.

         

3.8

 

1.2

International

         

6.2

 

2.3

                 

Beauty

               

RoC

 

0.8

         

0.1

U.S.

 

1.5

         

0.2

International

 

0.3

         

0.1

                 

Beauty

               

Dr. Ci Labo - Japan

 

(2.1)

         

(0.4)

U.S.

 

0.0

         

0.0

International

 

(3.6)

         

(0.7)

                 

All Other Acquisitions and Divestitures

 

0.2

 

0.0

 

0.2

 

0.1

U.S.

 

0.0

 

0.0

 

0.3

 

0.1

International

 

0.4

 

0.0

 

0.0

 

0.1

                 

WW Adjusted Operational

 

0.7%

 

7.9%

 

4.3%

 

5.5%

U.S.

 

0.0%

 

4.3%

 

2.5%

 

3.1%

International

 

1.3%

 

12.2%

 

5.9%

 

7.9%

                 

Note: Percentages are based on actual, non-rounded figures and may not sum

   
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FIRST QUARTER

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

CONSUMER SEGMENT (2)

             

BABY CARE

             

US

 

$ 87

 

$ 97

-10.9%

-10.9%

-

Intl

 

307

 

360

-14.8%

-6.4%

-8.4%

WW

 

394

 

457

-14.0%

-7.4%

-6.6%

BEAUTY

             

US

 

588

 

611

-3.8%

-3.8%

-

Intl

 

502

 

473

6.2%

13.1%

-6.9%

WW

 

1,090

 

1,084

0.6%

3.6%

-3.0%

ORAL CARE

             

US

 

151

 

157

-3.5%

-3.5%

-

Intl

 

216

 

222

-2.8%

4.6%

-7.4%

WW

 

367

 

379

-3.1%

1.2%

-4.3%

OTC

             

US

 

507

 

465

9.1%

9.1%

-

Intl

 

580

 

607

-4.6%

2.8%

-7.4%

WW

 

1,087

 

1,072

1.3%

5.5%

-4.2%

WOMEN'S HEALTH

             

US

 

3

 

3

4.2%

4.2%

-

Intl

 

222

 

240

-7.5%

4.3%

-11.8%

WW

 

225

 

243

-7.3%

4.3%

-11.6%

WOUND CARE / OTHER

             

US

 

102

 

103

-0.9%

-0.9%

-

Intl

 

53

 

60

-11.6%

-6.0%

-5.6%

WW

 

155

 

163

-4.8%

-2.7%

-2.1%

               

TOTAL CONSUMER

             

US

 

1,438

 

1,436

0.2%

0.2%

-

Intl

 

1,880

 

1,962

-4.2%

3.7%

-7.9%

WW

 

$ 3,318

 

$ 3,398

-2.4%

2.2%

-4.6%

               
               

See footnotes at end of schedule

             
               
               
               
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FIRST QUARTER

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

PHARMACEUTICAL SEGMENT (2)(4)

             

IMMUNOLOGY

             

US

 

$ 2,163

 

$ 2,000

8.1%

8.1%

-

Intl

 

1,088

 

1,042

4.5%

12.6%

-8.1%

WW

 

3,251

 

3,042

6.9%

9.6%

-2.7%

REMICADE

             

US

 

774

 

916

-15.5%

-15.5%

-

US Exports (3)

 

76

 

142

-46.4%

-46.4%

-

Intl

 

252

 

331

-23.6%

-17.2%

-6.4%

WW

 

1,102

 

1,389

-20.6%

-19.1%

-1.5%

SIMPONI / SIMPONI ARIA

             

US

 

263

 

224

17.0%

17.0%

-

Intl

 

261

 

294

-11.1%

-3.8%

-7.3%

WW

 

524

 

518

1.0%

5.2%

-4.2%

STELARA

             

US

 

882

 

652

35.2%

35.2%

-

Intl

 

523

 

409

27.9%

37.2%

-9.3%

WW

 

1,405

 

1,061

32.4%

36.0%

-3.6%

TREMFYA

             

US

 

168

 

66

*

*

-

Intl

 

49

 

6

*

*

*

WW

 

217

 

72

*

*

*

OTHER IMMUNOLOGY(4)

             

US

 

-

 

-

-

-

-

Intl

 

3

 

2

19.5%

21.0%

-1.5%

WW

 

3

 

2

19.5%

21.0%

-1.5%

INFECTIOUS DISEASES

             

US

 

357

 

333

7.3%

7.3%

-

Intl

 

489

 

497

-1.7%

7.8%

-9.5%

WW

 

846

 

830

1.9%

7.6%

-5.7%

EDURANT / rilpivirine

             

US

 

12

 

14

-18.8%

-18.8%

-

Intl

 

199

 

196

2.2%

10.6%

-8.4%

WW

 

211

 

210

0.8%

8.6%

-7.8%

PREZISTA / PREZCOBIX / REZOLSTA / SYMTUZA

             

US

 

315

 

273

15.5%

15.5%

-

Intl

 

208

 

205

1.5%

11.9%

-10.4%

WW

 

523

 

478

9.5%

13.9%

-4.4%

OTHER INFECTIOUS DISEASES

             

US

 

30

 

46

-33.8%

-33.8%

-

Intl

 

82

 

96

-16.0%

-6.3%

-9.7%

WW

 

112

 

142

-21.7%

-15.1%

-6.6%

See footnotes at end of schedule

             
               
               
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FIRST QUARTER

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

NEUROSCIENCE

             

US

 

723

 

624

16.0%

16.0%

-

Intl

 

905

 

935

-3.2%

4.3%

-7.5%

WW

 

1,629

 

1,559

4.5%

9.0%

-4.5%

CONCERTA / methlyphenidate

             

US

 

97

 

66

47.7%

47.7%

-

Intl

 

116

 

107

8.5%

15.8%

-7.3%

WW

 

214

 

173

23.4%

28.0%

-4.6%

INVEGA SUSTENNA / XEPLION /
INVEGA TRINZA / TREVICTA

             

US

 

483

 

400

20.7%

20.7%

-

Intl

 

307

 

296

3.8%

12.3%

-8.5%

WW

 

790

 

696

13.5%

17.1%

-3.6%

RISPERDAL CONSTA

             

US

 

77

 

82

-6.8%

-6.8%

-

Intl

 

102

 

114

-10.3%

-2.4%

-7.9%

WW

 

179

 

196

-8.8%

-4.3%

-4.5%

OTHER NEUROSCIENCE

             

US

 

66

 

76

-12.0%

-12.0%

-

Intl

 

379

 

418

-9.2%

-2.5%

-6.7%

WW

 

446

 

494

-9.6%

-3.9%

-5.7%

ONCOLOGY

             

US

 

962

 

933

3.1%

3.1%

-

Intl

 

1,556

 

1,378

13.0%

22.2%

-9.2%

WW

 

2,518

 

2,311

9.0%

14.5%

-5.5%

DARZALEX

             

US

 

352

 

264

33.0%

33.0%

-

Intl

 

277

 

168

65.1%

80.1%

-15.0%

WW

 

629

 

432

45.5%

51.3%

-5.8%

IMBRUVICA

             

US

 

349

 

227

53.7%

53.7%

-

Intl

 

435

 

360

20.8%

32.0%

-11.2%

WW

 

784

 

587

33.5%

40.4%

-6.9%

VELCADE

             

US

 

-

 

-

-

-

-

Intl

 

263

 

313

-16.0%

-10.1%

-5.9%

WW

 

263

 

313

-16.0%

-10.1%

-5.9%

ZYTIGA / Abiraterone Acetate

             

US

 

185

 

407

-54.5%

-54.5%

-

Intl

 

494

 

438

12.9%

20.9%

-8.0%

WW

 

679

 

845

-19.6%

-15.4%

-4.2%

OTHER ONCOLOGY

             

US

 

76

 

35

*

*

-

Intl

 

87

 

99

-12.2%

-3.9%

-8.3%

WW

 

163

 

134

21.7%

27.8%

-6.1%

               
               
               
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FIRST QUARTER

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

PULMONARY HYPERTENSION

             

US

 

430

 

361

19.2%

19.2%

-

Intl

 

226

 

224

0.7%

8.6%

-7.9%

WW

 

656

 

585

12.1%

15.1%

-3.0%

OPSUMIT

             

US

 

172

 

149

15.9%

15.9%

-

Intl

 

133

 

122

8.9%

17.8%

-8.9%

WW

 

306

 

271

12.7%

16.8%

-4.1%

TRACLEER

             

US

 

61

 

68

-10.1%

-10.1%

-

Intl

 

56

 

72

-22.9%

-18.3%

-4.6%

WW

 

117

 

140

-16.7%

-14.4%

-2.3%

UPTRAVI

             

US

 

176

 

124

41.4%

41.4%

-

Intl

 

22

 

16

42.8%

53.6%

-10.8%

WW

 

198

 

140

41.6%

42.8%

-1.2%

OTHER

             

US

 

21

 

20

3.6%

3.6%

-

Intl

 

15

 

14

4.6%

17.1%

-12.5%

WW

 

35

 

34

4.0%

9.2%

-5.2%

CARDIOVASCULAR / METABOLISM / OTHER

             

US

 

947

 

1,103

-14.1%

-14.1%

-

Intl

 

398

 

414

-3.9%

2.7%

-6.6%

WW

 

1,345

 

1,517

-11.3%

-9.5%

-1.8%

XARELTO

             

US

 

542

 

578

-6.3%

-6.3%

-

Intl

 

-

 

-

-

-

-

WW

 

542

 

578

-6.3%

-6.3%

-

INVOKANA / INVOKAMET

             

US

 

154

 

204

-24.8%

-24.8%

-

Intl

 

49

 

44

11.6%

20.0%

-8.4%

WW

 

202

 

248

-18.4%

-16.9%

-1.5%

PROCRIT / EPREX

             

US

 

148

 

189

-21.6%

-21.6%

-

Intl

 

78

 

87

-10.2%

-5.2%

-5.0%

WW

 

226

 

276

-18.0%

-16.4%

-1.6%

OTHER

             

US

 

104

 

132

-21.3%

-21.3%

-

Intl

 

271

 

283

-4.4%

2.5%

-6.9%

WW

 

374

 

415

-9.7%

-5.1%

-4.6%

               

TOTAL PHARMACEUTICAL

             

US

 

5,582

 

5,354

4.3%

4.3%

-

Intl

 

4,662

 

4,490

3.9%

12.2%

-8.3%

WW

 

$ 10,244

 

$ 9,844

4.1%

7.9%

-3.8%

               
               
               

See footnotes at end of schedule

             
               
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FIRST QUARTER

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

MEDICAL DEVICES SEGMENT (2)(5)

             

DIABETES CARE(5)

             

US

 

$ -

 

$ 117

*

*

-

Intl

 

-

 

222

*

*

*

WW

 

-

 

339

*

*

*

INTERVENTIONAL SOLUTIONS

             

US

 

343

 

304

12.6%

12.6%

-

Intl

 

389

 

336

15.8%

22.7%

-6.9%

WW

 

732

 

640

14.3%

17.9%

-3.6%

ORTHOPAEDICS

             

US

 

1,318

 

1,307

0.9%

0.9%

-

Intl

 

885

 

943

-6.2%

0.7%

-6.9%

WW

 

2,204

 

2,250

-2.1%

0.8%

-2.9%

HIPS

             

US

 

213

 

209

2.1%

2.1%

-

Intl

 

148

 

154

-3.8%

3.5%

-7.3%

WW

 

361

 

363

-0.4%

2.7%

-3.1%

KNEES

             

US

 

223

 

228

-2.2%

-2.2%

-

Intl

 

146

 

159

-8.2%

-1.5%

-6.7%

WW

 

369

 

387

-4.7%

-1.9%

-2.8%

TRAUMA

             

US

 

417

 

407

2.5%

2.5%

-

Intl

 

268

 

289

-7.0%

-0.3%

-6.7%

WW

 

685

 

696

-1.4%

1.3%

-2.7%

SPINE & OTHER

             

US

 

465

 

463

0.3%

0.3%

-

Intl

 

323

 

341

-5.5%

1.3%

-6.8%

WW

 

788

 

804

-2.2%

0.7%

-2.9%

               
               
               
               
 

REPORTED SALES vs. PRIOR PERIOD ($MM)

 

FIRST QUARTER

         

% Change

   

2019

 

2018

Reported

Operational (1)

Currency

SURGERY

             

US

 

1,001

 

993

0.8%

0.8%

-

Intl

 

1,394

 

1,430

-2.6%

4.7%

-7.3%

WW

 

2,395

 

2,423

-1.2%

3.1%

-4.3%

ADVANCED

             

US

 

404

 

393

2.9%

2.9%

-

Intl

 

576

 

573

0.5%

7.7%

-7.2%

WW

 

980

 

966

1.5%

5.8%

-4.3%

GENERAL

             

US

 

425

 

423

0.3%

0.3%

-

Intl

 

665

 

704

-5.6%

1.6%

-7.2%

WW

 

1,089

 

1,127

-3.4%

1.1%

-4.5%

SPECIALTY

             

US

 

172

 

177

-2.5%

-2.5%

-

Intl

 

153

 

153

-0.2%

7.6%

-7.8%

WW

 

325

 

330

-1.4%

2.2%

-3.6%

VISION

             

US

 

446

 

440

1.5%

1.5%

-

Intl

 

682

 

675

1.1%

7.2%

-6.1%

WW

 

1,129

 

1,115

1.2%

5.0%

-3.8%

CONTACT LENSES / OTHER

             

US

 

321

 

309

4.1%

4.1%

-

Intl

 

502

 

498

1.0%

7.4%

-6.4%

WW

 

824

 

807

2.1%

6.1%

-4.0%

SURGICAL

             

US

 

125

 

131

-4.5%

-4.5%

-

Intl

 

180

 

177

1.3%

6.8%

-5.5%

WW

 

305

 

308

-1.1%

2.0%

-3.1%

               

TOTAL MEDICAL DEVICES

             

US

 

3,109

 

3,161

-1.6%

-1.6%

-

Intl

 

3,350

 

3,606

-7.1%

-0.3%

-6.8%

WW

 

$ 6,459

 

$ 6,767

-4.6%

-1.0%

-3.6%

               
               

Note: Columns and rows within tables may not add due to rounding. Percentages have been calculated using actual, non-rounded figures and, therefore, may not recalculate precisely.

               

* Percentage greater than 100% or not meaningful

(1) Operational growth excludes the effect of translational currency

(2) Unaudited

(3) Reported as U.S. sales

(4) Prior year amounts have been reclassified to conform to current year product disclosure

(5) Reflects LifeScan divestiture October 2, 2018

(PRNewsfoto/Johnson & Johnson)

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/johnson--johnson-reports-2019-first-quarter-results-300832766.html

SOURCE Johnson & Johnson


Company Codes: NYSE:JNJ

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