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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 (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

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